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

Quick Facts

• Looking at the national averages for insurance, Concord Group offers significantly more affordable premiums than State Farm
• Concord Group has cheaper rates for policyholders who drive fewer than 6,000 miles every year
• State Farm may help you save more money -- they offer more discounts than Concord Group Insurance

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Concord Group or State Farm: Which Company has the Cheapest Car Insurance?

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering huge savings. But exactly how much can you save by switching?

You've maybe even narrowed it down to Concord Group or State Farm as potential options, but which one will offer you less expensive prices?

Looking at nationwide averages, Concord Group is quite a bit cheaper than State Farm, with premiums averaging $74 a month compared to $158 with State Farm.

But Concord Group may not be the most affordable or best option for each driver out there. Auto insurance carriers use a variety of complex algorithms to determine rates, so depending on where you live or how old you are (among a wide array of other factors), you could see wildly different premiums from the ones above.

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

Concord Group vs. State Farm: Average Car Insurance Rates by State

Concord Group and State Farm only compete against each other in three states, with Concord Group offering more affordable rates to the average driver in all of them. Maine has the most noticable difference, where Concord Group premiums are $30 less expensive than insurance rates at State Farm.

But there's more to calculating car insurance prices than just your home state. Read on to learn more.

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Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for auto insurance than any group on the road. It's because teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

That being said, that doesn't mean that teen drivers have to just accept sky-high insurance premiums. For example, 18-year-old drivers pay an average of almost 55% less per month by choosing Concord Group over State Farm.

However, both companies will decrease rates by the time drivers turn 25. For example, average prices for Concord Group policyholders reduce over 50% and State Farm's premiums drop nearly 60% over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the cheapest car insurance prices you can find. You've been on the road for years, and all that experience pays off when it comes to your monthly rates for auto insurance.

When looking at Concord Group and State Farm specifically, which company is best for retired drivers? Concord Group gets the edge, with premiums for drivers 65 and older $57 cheaper than the national average for State Farm.

Which is the Best Company for Married Drivers?

Did you know that car insurance prices are generally more expensive for those who are single than they are for married couples? That's usually because married drivers tend to own and insure multiple vehicles, which can often earn you a discount.

For single drivers, the difference in average rates between these two carriers is significant, with Concord Group premiums coming in at around half of State Farm's. The advantage for married policyholders with Concord Group is also obvious, where drivers save about $70 a month.

Concord Group or State Farm: Average Rates by Gender

Men are statistically more likely than women to get pulled over for speeding or get into a collision. That means when it comes to insurance men will generally end up paying a little more.

On average, men see rates around $10 per month higher with Concord Group, and about $12 more with State Farm.

Looking at the data for each carrier specifically, Concord Group offers the lowest average prices for both men and women, with average premiums $85 less for men and $83 cheaper for women.

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Concord Group vs. 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. There are so many different terms and limits that it can make it pretty confusing to find the right policy for you.

Even so, most policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause an accident) and full coverage (which normally refers to having collision and comprehensive coverages in addition to liability).

Looking specifically at state minimum liability insurance, Concord Group has the significant edge, with average monthly prices coming in at $47. If you want a full coverage policy with the same state minimum limits, Concord Group again has the edge, with policies averaging around $101 a month to State Farm's $216.

Is Concord Group or State Farm Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance companies offering great rates 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 collisions lead to higher prices, but which company -- Concord Group or State Farm -- has the cheapest premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Concord Group for their car insurance can usually expect their monthly bill to go up about 14% after getting a speeding ticket. State Farm policyholders can expect a less drastic increase of around 14%.

But Concord Group tends to offer the best prices for both drivers who have clean records and those with a recent ticket, offering rates that are 59% and 59% more affordable, respectively, compared to State Farm.

Which Company is Best for Drivers After an Accident?

Concord Group drivers who get in a collision can expect to see their prices climb by just under 35%, while those who have insurance through State Farm will see about a 20% increase.

At the end of the day, Concord Group offers the most affordable premiums for drivers with an at-fault collision on their records, with average rates coming in at $82 compared to State Farm's $163.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or speeding ticket when it comes to your insurance bill. For example, State Farm increases average prices by $45 per month -- that's more than a 25% increase.

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How does Credit Score Impact Concord Group and State Farm 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 (Hawaii, for example, has banned the use of credit score as a car insurance factor) but it does affect several policyholders out there.

The reasoning auto insurance companies use is that drivers with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper premiums, while those with poor credit will typically be forced to pay more.

So, which carrier offers the lowest rates for policyholders with poor, average, or good credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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Is Concord Group or State Farm 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 substantial impact on your monthly premiums? Normally, 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, Concord Group tends to be the less expensive option. Concord Group average prices for drivers with 6,000 annual miles come in nearly $80 cheaper than State Farm. Those who drive 12,000 miles yearly can expect to pay just under $90 less with Concord Group over State Farm.

Concord Group or State Farm: Compare Rates for Urban, Suburban, and Rural Drivers

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

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

For policyholders in urban ZIP codes, Concord Group Insurance's average prices are around 56% less than State Farm. People who live in suburban areas pay about 53% less with Concord Group compared to State Farm. Those in rural areas can expect to save around 48% with Concord Group compared to State Farm.

Concord Group vs. State Farm Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many auto insurance discounts as possible.

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

Luckily, we did the hard work for you and compared all of the different discounts offered by Concord Group and State Farm so that you can see which carrier can save you the most money each month.

State Farm knocks Concord Group out of the park when it comes to the sheer number of discounts available, offering 10 more discounts than Concord Group.

Both carriers offer quite a few of the same discounts -- like ABS discounts, discounts for being a defensive driver, and multi-policy discounts -- but State Farm also offers discounts for annual mileage, distant student, drive safe & save, and more.

On the other hand, Concord Group has a few proprietary discounts of their own for things like advance quote discounts, COVID-19 relief discount, group discounts, and more.

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Final Thoughts: Is Concord Group or State Farm Best for You?

So, we've broken down the average premiums for many of the variables car insurance companies look at, and we've shown you all the discounts each carrier offers. That's all well and good, but at the end of the day, is Concord Group or State Farm the right fit for you?

Concord Group might be best for you if....

• Your driving record includes a DUI charge.
• You want the most robust protection via a "full coverage" policy.
• You're of retirement age and want to take advantage of lower rates.

State Farm might be best for you if...

• You already have plans to move to another state -- undefined is only available in.
• You care about discounts (State Farm offers the most).

Hopefully, this guide helps you get a good idea of the differences between Concord Group and State Farm and that you can now make a more informed decision when it comes to 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 multiple carriers, not just Concord Group and State Farm. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of the top car insurance companies in your area, all in just a few minutes.

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Concord Group vs. State Farm FAQs

Is Concord Group or State Farm cheaper?

Concord Group is the more affordable of the two carriers when looking at national average prices, with policies averaging $74 a month with Concord Group and $158 for State Farm. Even so, that doesn't mean Concord Group will be the most affordable company for each driver, since there are a variety of different factors that come into play when it comes to your auto insurance payment.

Who is better, Concord Group or State Farm?

Unfortunately, the real answer is "it depends.". Neither carrier is "better" for everyone -- it all depends on what your unique insurance profile looks like.

Why do Concord Group and State Farm offer me different rates?

Car insurance companies use quite a few different variables when determining the premiums they charge. Factors like where you live, gender, where your home is, age, and sometimes even things like your credit score can all be taken into consideration. Both Concord Group and State Farm calculate prices using different formulas, so it's likely they'll offer different rates. The best way to determine which company is the lowest for you is by comparing personalized quotes from lots of different carriers.

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

The only way to find the auto insurance carrier that's right for you is by getting quotes from a handful of companies 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 car insurance carriers for free. That way, you can guarantee you're getting the cheapest premium. And maybe you'll find that the best company for you isn't Concord Group or State Farm at all, but another you hadn't even thought of!

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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.