Main Street America vs. Preferred Mutual: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for car insurance, Main Street America offers significantly more affordable rates than Preferred Mutual
• Main Street America offers less expensive average premiums for policyholders who live in suburban areas
• Main Street America tends to be a much cheaper option for policyholders who live in rural neighborhoods

Main Street America or Preferred Mutual: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. You've probably seen commercials and billboards from companies offering considerable savings, but exactly how much money can you save by switching?

You might have narrowed your search down to Main Street America or Preferred Mutual as potential options, but which carrier will offer you less expensive rates?

Looking at nationwide averages, Main Street America has average rates that are around 60% a month more affordable than those from Preferred Mutual.

However, that doesn't necessarily mean Main Street America will be the cheaper option for each driver. Auto insurance carriers use a ton of complex algorithms to determine prices, so depending on where you live or how clean your driving record is (among a whole range of other factors), you could see wildly different rates from the ones above.

Wanting to know if Main Street America or Preferred Mutual is really the right company for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Main Street America vs. Preferred Mutual: Average Car Insurance Rates by State

Main Street America and Preferred Mutual only compete against each other in one states, with Main Street America offering more affordable premiums to the average driver in all of them. New York has the most noticable difference, where Main Street America rates are $291 cheaper than insurance prices at Preferred Mutual.

There are plenty of other factors that go into your car insurance cost than just where you live. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance premiums of any other group of drivers out there on the road. The reason is that teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

That being said, that doesn't mean teen drivers can't still save money on their insurance. Just look at the table above -- where 18-year-old drivers who have Main Street America for their car insurance pay over 55% less than those who use Preferred Mutual.

Even so, with both companies, you'll see your prices lower significantly by the time you turn 25. For example, average premiums for Main Street America policyholders reduce about $250 and Preferred Mutual's rates decrease more than $500 over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll usually enjoy the lowest auto insurance premiums you'll ever see. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for insurance.

So, which carrier offers the best rates to retired drivers? Main Street America gets the edge, with premiums for drivers 65 and older $217 less expensive than the national average for Preferred Mutual.

Which is the Best Company for Married Drivers?

Did you know that car insurance prices are normally more expensive for single policyholders than they are for married couples? That's typically because married policyholders tend to own and insure several vehicles, which can often earn you a discount.

For those who are single, the difference in average rates between these two carriers is significant, with Main Street America premiums coming in at around half of Preferred Mutual's. For married drivers, the advantage is clear again - Main Street America has the edge when it comes to average prices.

Main Street America or Preferred Mutual: Average Rates by Gender

Did you know women generally pay less for insurance than men? That's because women are less likely to get into accidents and get speeding tickets, which decreases the chances of filing a claim with insurance.

Surprisingly, with Main Street America, men normallypay about 3% less per month than women, and around 3% more with Preferred Mutual.

Looking at the data for each company specifically, Main Street America offers the most affordable average rates for both men and women. On average, male drivers save about $326 a month and women save about $304 with Main Street America compared to the average Preferred Mutual policyholder.

Main Street America vs. Preferred Mutual: Compare State Minimum vs. Full Coverage Rates

*State minimum value indicates liability-only policies at each state's minimum bodily injury and property damage (BI/PD) limits

**Full coverage indicates state minimum BI/PD limits with collision and comprehensive coverages added to policy.

It's no secret that auto insurance can be a complicated subject for most people. There are so many different terms and limits that it can make it pretty confusing to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (that covers property damage and bodily injury for other drivers and passengers if you cause a collision) and full coverage (which usually refers to having collision and comprehensive coverages alongside liability).

Looking specifically at state minimum liability insurance, Main Street America has the significant edge, with average monthly prices coming in at $159. If you want a full coverage policy with the same state minimum limits, Main Street America again has the edge, with policies averaging around $295 per month to Preferred Mutual's $850.

Is Main Street America or Preferred Mutual Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance companies offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that speeding tickets and at-fault collisions lead to higher rates, but which carrier -- Main Street America or Preferred Mutual -- has the cheapest premiums for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Main Street America for their auto insurance can typically expect their monthly bill to go up about 26% after getting a speeding ticket. Preferred Mutual policyholders can expect a less drastic increase of around 1%.

But Main Street America tends to offer the best prices for drivers both with clean records and with a ticket -- their rates are around 55% cheaper for drivers with clean records and 40% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Main Street America can expect to see about an $40 -- or around 19% -- rise in their car insurance prices. Drivers who use Preferred Mutual for their insurance will see a monthly bill about $97 (or 20%) more expensive after reporting an accident to their auto insurance company.

At the end of the day, drivers who use Main Street America end up with the cheaper prices after an accident, with average rates coming in at $215 compared to Preferred Mutual's $486.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your car insurance bill. For example, Preferred Mutual increases average prices by more than $500 a month -- that's more than a 55% increase.

But if you end up with a DUI charge and are looking for more affordable premiums, Main Street America tends to be more affordable for the average driver, with monthly premiums coming in at around $283 to Preferred Mutual's $902.

How does Credit Score Impact Main Street America and Preferred Mutual Rates?

Did you know many auto insurance carriers take your credit score into account when determining rates? This isn't true for everyone (Massachusetts, for example, has banned the use of credit score as an auto insurance factor) but it will come into play for many drivers.

Car insurance companies argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, policyholders with good credit will often be rewarded with cheaper premiums.

So, which carrier offers the most affordable rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Main Street America or Preferred Mutual Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a sizable impact on your monthly insurance payment? Generally, the more milage you put on your car, the more you can expect to pay for coverage.

For both remote workers and those taking short commutes, Main Street America tends to be the less expensive option. Preferred Mutual's average prices for drivers with 6,000 annual miles come in nearly 60% more expensive than Main Street America. Those who drive 12,000 miles every year can expect to pay just under 60% more with Preferred Mutual over Main Street America.

Main Street America or Preferred Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can play a pretty big role in how much you pay for car insurance. Normally, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

Main Street America boasts the cheapest average prices for drivers in all types of areas, no matter if they're urban, suburban, or rural.

If you live in a rural area, you can expect to pay about $188 monthly with Main Street America compared to Preferred Mutual's $253. People in suburban areas pay a monthly premium of around $230 with Main Street America compared to $472 with Preferred Mutual. In urban areas, Main Street America's average premiums are about $264 while Preferred Mutual offers rates around $902.

Main Street America vs. Preferred Mutual Discounts

You want to save as much money as you can, right? The best way to do that is by taking advantage of as many auto insurance discounts as possible.

The difficult part is finding all of the discounts you qualify for, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Main Street America and Preferred Mutual so that you can find the one that has the most discounts and, therefore, the largest savings.

Looking at the total number of discounts, Main Street America comes out ahead with 18 discounts to Preferred Mutual's 14.

Both carriers offer lots of the same discounts -- like anti-theft discounts, DRL discounts, discounts for being a good driver, and discounts for insuring multiple cars with the same company -- but Main Street America also offers discounts for distant student, driver training, EFT, and more.

On the other hand, Preferred Mutual has a few proprietary discounts of their own like annual mileage discounts and group discounts.

Final Thoughts: Is Main Street America or Preferred Mutual Best for You?

So, you've seen how different variables can affect your car insurance prices. We've shown you all the discounts each company offers, too. That's all well and good, but at the end of the day, is Main Street America or Preferred Mutual the best company for you, your vehicle, and your wallet?

Main Street America might be best for you if....

• Your driving record includes a DUI charge.
• You live in an suburban area.
• You and your spouse are buying insurance together.

Preferred Mutual might be best for you if...

• You have a more unique driver profile than those we mentioned above.

Hopefully, this guide has ben a valuable resource as you compare Main Street America and Preferred Mutual. We also hope we've given you the information you need to make the best decision about your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your insurance policy is to compare quotes from a handful of companies, not just Main Street America and Preferred Mutual. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of the top auto insurance carriers in your area, all in just a few minutes.

Main Street America vs. Preferred Mutual FAQs

Is Main Street America or Preferred Mutual cheaper?

Main Street America is the more affordable of the two companies when looking at national average premiums, with policies averaging $227 per month with Main Street America and $542 for Preferred Mutual. That being said, that doesn't mean Main Street America will be the lowest carrier for each driver, since there are lots of different factors that come into play when it comes to your car insurance bill.

Who is better, Main Street America or Preferred Mutual?

Unfortunately, the answer truly is "it depends.". One company is not "better" for every policyholder -- it all boils down to your unique auto insurance profile.

Why do Main Street America and Preferred Mutual offer me different rates?

Insurance carriers use a lot of different variables when calculating the prices they charge. Things such as your driving record, age, where your home is, gender, and sometimes even things like your credit score can all be taken into consideration. Both Main Street America and Preferred Mutual calculate premiums using different formulas, so it's likely they'll offer different rates. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from several different companies.

How do I know if Main Street America or Preferred Mutual is right for me?

The only way to find the car insurance company that's right for you is by getting quotes from multiple carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your area information and you'll get quotes from dozens of your local top auto insurance companies for free. That way, you can guarantee you're getting the most affordable price. And maybe you'll find that the best carrier for you isn't Main Street America or Preferred Mutual at all, but another you hadn't even thought of!

Methodology

All of the data referenced in this article has been gathered in collaboration with Quadrant Information Services. We analyzed more than 2.5 million rows of carrier-reported data to calculate the average rates referenced above. All rates are based on an insurance profile of a single-vehicle policy for a driver that owns a 2016 Honda Accord. For more information on how we calculate rates, please reference our data methodology.