Memberselect vs. State Farm: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for car insurance, State Farm offers significantly less expensive prices than Memberselect
• State Farm offers more affordable rates for couples purchasing auto insurance together
• State Farm offers more affordable average premiums for drivers who have an at-fault accident on their record

Memberselect vs. State Farm: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching your auto insurance. After all, you've seen ads from all sorts of companies offering hefty discounts. But exactly how much can you save by switching?

You might be considering Memberselect or State Farm as potential options, but which one has cheaper prices for insurance?

Looking at nationwide averages, State Farm has average rates that are about 40% per month more affordable than those from Memberselect.

However, that doesn't necessarily mean State Farm will be the less expensive option for every single driver. After all, car insurance companies can offer drastically different rates to each driver depending on rating factors like your age, where you call home, your driving record, or even your credit score (among other things). So, at the end of the day, rates from every company will differ quite a bit from person to person.

Luckily, we've broken down average prices from both Memberselect and State Farm by many different rate factors, so read on to find out which carrier is the best for you.

Memberselect or State Farm: Average Car Insurance Rates by State

Memberselect and State Farm only compete against each other in Minnesota, where State Farm offers the cheaper average premiums. For Minnesota residents, State Farm offers insurance for $119 a month on average. Memberselect's average rates come out to be over 70% more expensive, at $274 monthly.

That being said, there's a lot more that goes into your auto insurance payment than just your home state. Read on to find out more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- typically pay a lot for car insurance compared to older drivers. It's because young, inexperienced 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 auto insurance. As you can see above, teens who use State Farm save more than $95 a month compared to those who use Memberselect.

But with both carriers, you'll see your premiums drop significantly by the time drivers turn 25. State Farm offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Memberselect's average prices lower nearly 40% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the most affordable insurance rates you can find. After all, they've likely been driving for quite some time, which generally reduces their chances of accidents and other infractions that can increase prices.

When looking at Memberselect and State Farm specifically, which company is best for retired drivers? State Farm gets the edge, with premiums for drivers 65 and older almost 55% cheaper than the national average for Memberselect.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are usually less expensive for married policyholders than they are for those who are single? That's because policies for married couples normally cover more than one car, which a lot of companies will offer you a discount for.

When it comes to relationship status, State Farm is the clear winner for single policyholders, with prices around $122 per month more affordable than Memberselect, on average. The advantage for married drivers with State Farm is also obvious, where drivers save over 45% a month.

Memberselect vs. State Farm: Average Rates by Gender

Did you know men tend to pay more for insurance than women? This is because men are statistically more likely than women to get tickets and get into accidents, which leads to increased risk for insurers and, therefore, higher premiums.

Men usually pay more than $10 per month more than women with Memberselect, and about $10 with State Farm.

Looking at the data for each carrier specifically, State Farm offers the cheapest average rates for both men and women, with average prices $116 less for men and $117 cheaper for women.

Memberselect or State Farm: 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. Everyone needs car insurance, but there are so many different terms and limits that it can be hard to find the right policy.

Even so, the most common policies that many drivers look at fall into two categories -- liability only (that covers bodily injury and property damage for other drivers and passengers if you cause an accident) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with liability).

If you're looking for state minimum liability insurance, State Farm typically offers significantly cheaper premiums of $99 compared to Memberselect's $183. When it comes to full coverage policies with similar limits, State Farm again has the edge, with policies around $150 a month less expensive than Memberselect, on average.

Is Memberselect or State Farm Better for Drivers with Spotty Records?

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

Collisions and tickets will most likely raise your premiums, but is Memberselect or State Farm more affordable for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Memberselect policyholders can expect their prices to go up an average of $58 per month if they get a ticket, while State Farm generally raises rates about $21 a month, on average.

That being said, State Farm has cheaper prices for drivers in both categories. Drivers with a clean record can save around $45 per month and drivers with a speeding ticket can save about $82 a month with State Farm.

Which Company is Best for Drivers After an Accident?

Memberselect drivers who get in a collision can expect to see their premiums climb by over $35, while those who have insurance through State Farm will see around a $30 increase.

Overall, State Farm offers the most affordable rates for drivers with an at-fault collision on their records, with monthly prices averaging $163 compared to MemberSelect Insurance Company's $216.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple ticket or even an accident. On average, Memberselect will climb your premiums about 62% after a DUI, while State Farm's average rates rise by over 25%.

How does Credit Score Impact Memberselect and State Farm Rates?

In many cases, your credit score can come into play when companies calculate your monthly bill. This isn't always the case (Massachusetts, for example, has banned the use of credit score as a rating factor) but it will come into play for quite a few policyholders.

Auto insurance carriers argue that those with good credit scores are more likely to pay their bills on time each month, which decreases the risk involved on their end, while the opposite is true for those with bad credit.

So, which company offers the best 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 Memberselect or State Farm 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 your monthly prices. Typically, those who drive less will end up with less expensive rates since there's less of a chance of getting into a collision and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure, State Farm offers more affordable premiums than Memberselect. Memberselect's average prices for drivers with 6,000 annual miles come in just under 45% more expensive than State Farm. Those who drive 12,000 miles every year can expect to pay more than 40% more with Memberselect over State Farm.

Memberselect vs. State Farm: Compare Rates for Urban, Suburban, and Rural Drivers

We've already mentioned how your home state can play a role in how much you pay for car insurance, but the type of area you live in can have a big impact as well. Generally, those who live in urban areas will pay more than policyholders in rural areas because there are a lot more vehicles on the roads in those areas.

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

Drivers in rural ZIP codes see the most affordable rates from both companies, but State Farm comes out on top with average premiums around $127 per month. State Farm also has cheaper average prices for policyholders in urban and suburban ZIP codes -- a 37% and 47% per month respective difference when compared to Memberselect drivers in similar areas.

Memberselect vs. State Farm Discounts

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

But where do you even start? With so many discounts out there, it may seem challenging to find all the of the ones you can take advantage of.

In the table below, we've compared all of the different discounts offered by Memberselect and State Farm so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

State Farm knocks Memberselect out of the park when it comes to the sheer number of discounts available, offering 23 different discounts to Memberselect's 23.

Both carriers offer quite a few of the same discounts -- like discounts for being a defensive driver, discounts for being a good driver, and discounts for being a good student -- but State Farm also offers ABS discounts, annual mileage discounts, drive safe & save discounts, and more that Memberselect does not.

On the flip side, Memberselect has a couple unique discounts of its own -- AAA discounts, advance quote discounts, EFT discounts, and more.

Final Thoughts: Is Memberselect or State Farm Best for You?

You've seen the role certain factors have on your auto insurance and the different discounts companies offer. But, when it comes down to it, which insurance company is the right carrier for you and your specific profile and needs?

State Farm might be best for you if....

• You haven't received any speeding tickets or been in an accident in the last few years.
• You have below-average credit.
• Your neighborhood is in the suburbs.

Memberselect might be best for you if...

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

We hope this guide helps you get a good idea of the differences between Memberselect and State Farm and that you can now make a more informed decision when it comes to your car 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 a handful of carriers, not just Memberselect and State Farm. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get multiple free quotes from some of the best insurance companies in your area, all in just a few minutes.

Memberselect vs. State Farm FAQs

Is Memberselect or State Farm cheaper?

Looking just at the national average rates, State Farm is the more affordable of the two carriers, offering average rates of $158 a month compared to $274 for Memberselect. However, State Farm won't necessarily be the lowest carrier for each policyholder, since there are a bunch of different variables that are considered when it comes to your car insurance cost.

Who is better, Memberselect or State Farm?

Unfortunately, the real answer is "it depends.". No single company is necessarily "better" for everyone -- it all depends on what your unique insurance profile looks like.

Why do Memberselect and State Farm offer me different rates?

Auto insurance companies take a look at many different factors when calculating the prices they charge policyholders. Things such as where you park your car, where your home is, age, gender, and sometimes even things like your credit score can all be used. Both Memberselect and State Farm calculate premiums differently, so each one will most likely offer different rates. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from a range of different carriers.

How do I know if Memberselect or State Farm is right for me?

The only way to find the car insurance company that's right for you is by getting quotes from multiple companies and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best insurance carriers in your area. That way, you can guarantee you're getting the lowest premium. And who knows, the best carrier for you might not be Memberselect or State Farm at all!

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.