Meemic vs. Travelers: Which Company is the Best Fit for You?

Quick Facts

• In general, Travelers offers significantly more affordable rates than Meemic
• Travelers tends to be a much less expensive option for policyholders who live in rural neighborhoods
• Travelers offers cheaper average prices for drivers who have a speeding ticket on their driving record

Meemic or Travelers: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering hefty savings, but exactly how much money can you save by switching?

You might have narrowed your search down to Meemic or Travelers as potential options, but between the two, which carrier will save you the most?

Looking at nationwide averages, Travelers is quite a bit cheaper than Meemic, with rates averaging $167 a month compared to $281 with Meemic.

But Travelers may not be the lowest or best option for every driver out there. Car insurance carriers use a variety of complex algorithms to determine prices, so depending on where you live or how old you are (among a whole range of other factors), you could see wildly different premiums from the ones above.

Luckily, we've broken down average rates from both Meemic and Travelers by a variety of different rate factors, so read on to find out which company is the best for you.

Meemic vs. Travelers: Average Car Insurance Rates by State

Meemic and Travelers only compete against each other in Michigan, where Meemic offers the cheaper average premiums. Undefined drivers tend to pay about undefined per month less on average compared to drivers who use undefined for their auto insurance.

That being said, there's a lot more that goes into your car insurance bill than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance prices of any other group of drivers. Usually, that's because teen drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

Even so, that doesn't mean teen drivers can't still save money on their car insurance. For example, 18-year-old drivers pay an average of over 15% less a month by choosing Travelers over Meemic.

That being said, both companies will offer you dramatically lower premiums once you turn 25. For example, average rates for Meemic policyholders reduce around $150 and Travelers's prices lower more than $200 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the cheapest insurance premiums you'll ever see. After all, they've likely been driving for quite some time, which typically lowers their chances of collisions and other infractions that can raise prices.

When looking at Meemic and Travelers specifically, which carrier is best for retired drivers? Travelers gets the edge here, with average rates coming in at about $132 per month compared to Meemic's $279.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly more affordable auto insurance premiums than those who are single. That's generally because married policyholders tend to own and insure more than one vehicle, which can often earn you a discount.

For single policyholders, the difference in average rates between these two carriers is significant, with Travelers prices coming in at a third less than Meemic's. The advantage for married couples with Travelers is also obvious, where drivers save almost 50% per month.

Meemic or Travelers: Average Rates by Gender

You may not know, but car insurance is usually more expensive for men than for women. This is because men are statistically more likely than women to get into a collision or get pulled over for speeding, which leads to increased risk for insurers and, therefore, higher rates.

Women and men get the same monthly premiums with Meemic, and around $11 more with Travelers.

Looking at the data for each company specifically, Travelers offers the most affordable average prices for both men and women. On average, women save about $120 a month and men save about $109 with Travelers compared to the average Meemic policyholder.

Meemic vs. Travelers: 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.

Auto insurance isn't the easiest topic to understand. There are several different coverages that account for many different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause an accident.

However, most policies end up falling into two different types of coverage -- liability coverage (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with a liability policy).

Looking specifically at state minimum liability insurance, Travelers has the significant edge, with average monthly premiums coming in at $108. If you want a full coverage policy with the same state minimum limits, Travelers again has the edge, with policies averaging around $225 per month to Meemic's $361.

Is Meemic or Travelers Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance companies offering great prices 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 at-fault accidents and speeding tickets lead to higher rates, but which carrier -- Meemic or Travelers -- has the lowest premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Meemic for their auto insurance can normally expect their monthly bill to go up about 36% after getting a speeding ticket. Travelers policyholders can expect a less drastic increase of around 20%.

But Travelers is typically the cheaper option for both drivers who have clean records and those with a recent ticket -- their rates are around 27% less expensive for drivers with clean records and 42% cheaper for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Meemic can expect to see about an $74 -- or around 30% -- rise in their insurance rates. Drivers who use Travelers for their auto insurance will see a monthly bill about $45 (or 26%) more expensive after reporting an accident to their insurance company.

At the end of the day, the more affordable prices come from Travelers, with average premiums coming in at $173 compared to Meemic Insurance Company's $250.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly car insurance bill -- generally a lot more than a collision or speeding ticket. For example, Meemic increases average prices by nearly $250 a month -- that's nearly a 60% increase.

How does Credit Score Impact Meemic and Travelers Rates?

You may not have known, but your credit score can come into play when carriers calculate your monthly bill. This isn't true for everyone (for example, Michigan and California are two states that ban the practice entirely), but it does affect quite a few drivers out there.

Auto 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 less expensive rates.

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

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Meemic or Travelers Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in how much car insurance carriers will charge for coverage. Typically, the more milage you put on your vehicle each year, the more you can expect to pay for coverage.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Meemic charges. However, there's a small difference in monthly prices for Travelers, with drivers who put 6,000 miles on their car annually paying around $5 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Travelers is the more affordable company.

Meemic or Travelers: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can play a considerable role in how much you pay for insurance. Generally, those who live in urban areas will pay more than policyholders in rural areas since there are a lot more cars on the road where they live, which increases the chances of an accident.

Travelers boasts the cheapest average rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

Those in rural areas can expect to save about $112 with Travelers compared to Meemic. People who live in suburban areas pay around $113 less with Travelers compared to Meemic. For drivers in urban ZIP codes, Travelers's average premiums are about $118 less than Meemic Insurance Company.

Meemic vs. Travelers Discounts

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

But with what seems like a million different discounts out there, it can be hard to nail down the carrier that has the most discounts for your unique driver profile and to find all the discounts you qualify for.

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

Travelers knocks Meemic out of the park when it comes to the sheer number of discounts available, offering 25 different discounts to Meemic's 25.

Both companies offer quite a few of the same discounts -- like anti-theft discounts, discounts for being a defensive driver, and group discounts -- but Travelers also offers discounts for ABS, advance quote, alternative fuel, and more.

On the other hand, Meemic has a few proprietary discounts of their own like employee discounts and prior carrier discounts.

Final Thoughts: Is Meemic or Travelers Best for You?

You've seen the effect certain variables have on your auto insurance and the different discounts carriers offer. That's all well and good, but at the end of the day, is Meemic or Travelers the right fit for you?

Travelers might be best for you if....

• You have a speeding ticket on your driving record.
• You have a short commute.

Meemic might be best for you if...

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

Hopefully, this guide helps you get a good idea of the differences between Meemic and Travelers. We also hope we've given you the information you need to make the best decision about your insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several companies, not just Meemic and Travelers. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get multiple quotes from some of the best insurance carriers in your area, all for free.

Meemic vs. Travelers FAQs

Is Meemic or Travelers cheaper?

Travelers is the less expensive of the two companies when looking at national average rates, with policies averaging $167 per month with Travelers and $281 for Meemic. However, that doesn't mean Travelers will be the lowest company for each driver, since there are a bunch of different factors that are considered when it comes to your car insurance payment.

Who is better, Meemic or Travelers?

Unfortunately, the real answer is "it depends.". One carrier is not necessarily "better" for everyone -- it all boils down to your unique auto insurance profile.

Why do Meemic and Travelers offer me different rates?

Car insurance carriers use a lot of different variables when determining the prices they charge. Factors such as age, gender, where you live, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Meemic and Travelers calculate rates using different formulas, so it's likely they'll offer different prices. The best way to determine which company is the cheapest for you is by comparing personalized quotes from lots of different companies.

How do I know if Meemic or Travelers is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from multiple carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code 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 best rate. And maybe you'll find that the best company for you isn't Meemic or Travelers 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.