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

Quick Facts

• Based on national averages for insurance, Pemco offers significantly less expensive premiums than Travelers
• Pemco tends to be a much more affordable option for single people who will be the only person on the auto insurance policy
• Travelers may help you save more money -- they offer more discounts than PEMCO Insurance

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

So, you're considering switching to 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've maybe even narrowed your search down to Pemco or Travelers, but which carrier will save you the most?

Looking at nationwide averages, Travelers is quite a bit more expensive than Pemco, with prices averaging $167 a month compared to just $107 with Pemco.

But that doesn't necessarily mean Pemco will be the cheaper option for each driver. Insurance carriers vary their premiums depending on things like where you live, how good your credit score is, how clean your driving record is, how old you are, and all sorts of other factors, so prices could differ drastically from person to person.

So, if you want to find out which of Pemco or Travelers is really the best for you, keep reading to see average rates for each carrier broken down by lots of different rate factors.

Pemco vs. Travelers: Average Car Insurance Rates by State

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

But there's more to calculating auto insurance rates than just the state you live in. Read on to learn more.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for car insurance compared to older drivers. That's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

That being said, that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use Pemco save almost 40% a month compared to those who use Travelers.

Even so, with both companies, you'll see your premiums lower significantly by the time drivers turn 25. For example, average prices for Pemco policyholders drop over 55% and Travelers's premiums decrease more than 60% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the most affordable car insurance rates out there. After all, they've likely been driving for quite some time, which typically lowers their chances of collisions and other infractions that can raise premiums.

When looking at Pemco and Travelers specifically, which company is best for retired drivers? Pemco gets the edge here, with average rates coming in at around $91 a month compared to Travelers's $132.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance prices tend to be more affordable for married couples than they are for those who are single. That's because policies for married drivers normally cover more than one vehicle, which several carriers will give you a discount for.

For single drivers, the difference in average rates between these two companies is significant, with Pemco premiums coming in at a third less than Travelers's. The advantage for married policyholders with Pemco is also obvious, where drivers save about $50 per month.

Pemco or Travelers: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they are less likely to file a claim with insurance. So, women tend to pay less for insurance than men.

Typically, women see prices around 4% a month less with Pemco, and about 6% less with Travelers.

Looking at overall affordability, Pemco comes out on top for both men and women, with average rates 37% less for men and 35% cheaper for women.

Pemco 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.

For most people, auto insurance can be pretty complicated. There are so many different limits and coverages that it can make it pretty confusing to find the right policy for you.

However, the most common policies that drivers look at fall into two categories -- liability coverage (that covers bodily injury and property damage for other drivers and their passengers if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside liability).

Looking specifically at state minimum limits for liability insurance, Pemco has the significant edge, with average monthly prices coming in at $62. If you want a full coverage policy with the same state minimum limits, Pemco again has the edge, with policies averaging around $152 per month to Travelers's $225.

Is Pemco or Travelers Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their insurance. But that's not to say you can't save money if you don't have the best driving record, either.

It's no secret secret that speeding tickets and accidents lead to higher premiums, but which carrier -- Pemco or Travelers -- has the cheapest prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Pemco for their car insurance can typically expect their monthly bill to go up about 16% after getting a speeding ticket. Travelers policyholders can expect a bit more drastic of an increase of around 20%.

That being said, Pemco is normally the cheaper option for drivers both with a ticket and with a clean record, offering premiums that are 34% and 37% less expensive, respectively, compared to Travelers.

Which Company is Best for Drivers After an Accident?

Both carriers will increase rates pretty significantly if you get into an at-fault collision with Travelers raising by about 26%. Pemco has a less extreme climb, but you can still expect to pay nearly 25% more than you were prior to your first accident.

At the end of the day, the cheaper premiums come from Pemco, with average rates coming in at $111 compared to Travelers's $173.

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 insurance bill -- usually a lot more than an accident or speeding ticket. For example, Travelers increases average prices by more than $75 a month -- that's just under a 40% increase.

How does Credit Score Impact Pemco and Travelers Rates?

Did you know many car insurance companies take your credit score into account when determining premiums? This isn't true for everyone (for example, are two states that ban the practice entirely), but it will come into play for lots of drivers.

Auto insurance carriers argue that someone with bad credit is less likely to pay their bills on time, which makes them riskier to insure. Because of that, policyholders with bad credit will often be forced to pay more.

Looking specifically at Pemco and Travelers, which company has the lowest prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Pemco 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 your monthly rates. Generally, those who drive fewer miles will end up with more affordable premiums since there's less of a chance of causing a collision and filing an insurance claim.

For both remote workers and those taking short commutes, Pemco offers less expensive rates than Travelers. Travelers average prices for drivers with 6,000 annual miles come in around $60 more expensive than Pemco. Those who drive 12,000 miles yearly can expect to pay about $59 more with Travelers over Pemco.

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

Where you call home can play a big role in how much you pay for insurance. Usually, if you live in a rural area with fewer cars on the road, you'll pay a little less for auto insurance, while the opposite is true for people in urban areas.

Pemco boasts the most affordable average premiums for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to save around $48 with Pemco compared to Travelers. People who live in suburban areas pay about $41 less with Pemco compared to Travelers. For policyholders in urban ZIP codes, PEMCO Insurance's average prices are around $89 less than Travelers.

Pemco vs. Travelers Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can. That's where auto insurance discounts comes into play.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you're eligible for.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Pemco and Travelers so that you can easily see which company offers the most discounts and see which ones you might be able to take advantage of.

Travelers blows Pemco away when it comes to the sheer amount of discounts available, offering 25 different discounts to Pemco's 12.

A couple of those are overlapping for things like advance quote discounts, discounts for being a defensive driver, discounts for being a good student, and paid in full discounts. Travelers also offers discounts for ABS, alternative fuel, continuous insurance, and more.

On the other hand, Pemco has a few proprietary discounts of their own for things like employee discounts, homeowner discounts, and low mileage discounts.

Final Thoughts: Is Pemco or Travelers Best for You?

So, you've seen how different variables can affect your car insurance premiums. We've broken down the different discounts each carrier offers, too. But, when it comes down to it, is Pemco or Travelers the best one for you and your specific needs?

Pemco might be best for you if....

• Your driving record includes a DUI charge.
• You're of retirement age and want to take advantage of lower prices.

Travelers might be best for you if...

• You value the experience that comes with a large national insurance company.
• You care about discounts (Travelers offers the most).

Hopefully, this guide helps you get a better idea of the difference between Pemco and Travelers 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 multiple companies, not just Pemco and Travelers. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP code below and get free quotes from dozens of the top insurance carriers in your area, all in just a few minutes.

Pemco vs. Travelers FAQs

Is Pemco or Travelers cheaper?

Pemco is the cheaper of the two companies when looking at national average rates, with policies averaging $107 per month with Pemco and $167 for Travelers. However, that doesn't mean Pemco will be the cheapest carrier for every policyholder, since there are a bunch of different factors that are considered when it comes to your car insurance bill.

Who is better, Pemco or Travelers?

Unfortunately, the answer truly is "it depends.". Neither company is necessarily "better" for each policyholder -- it all boils down to your unique insurance profile.

Why do Pemco and Travelers offer me different rates?

Auto insurance carriers use quite a few different variables when calculating the prices they charge. Factors such as gender, your driving record, where you live, age, and sometimes even things like your credit score can all be used. Both Pemco and Travelers calculate rates differently, so it's likely they'll offer different premiums. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from a variety of different companies.

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

The only way to find the insurance company that's right for you is by getting quotes from several carriers 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 information once and you'll get quotes from dozens of your local top auto insurance companies for free. With those, you can guarantee you're getting the best rate. And maybe you'll find that the best carrier for you isn't Pemco 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.