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

Quick Facts

• Looking at the national averages for auto insurance, Pekin offers significantly more affordable rates than State Farm
• Pekin has cheaper premiums for policyholders who haven't received any speeding tickets or been in an accident in the last few years
• State Farm offers more discounts than Pekin Insurance

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

So, you're thinking about switching your auto insurance. With so many ads from all sorts of companies offering big discounts, you're probably wondering exactly how much you might be able to save.

You've maybe even narrowed your search down to Pekin or State Farm as your top options, but which one has less expensive prices for car insurance?

As you can see, State Farm has average rates that are about 55% per month more expensive than those from Pekin when looking at the national average rates for insurance.

However, that doesn't mean Pekin will necessarily be cheaper than State Farm for each driver. Auto insurance companies vary their premiums depending on things like how good your credit score is, how old you are, where you live, how clean your driving record is, and all sorts of other factors. So, at the end of the day, rates from each company will differ quite a bit from person to person.

So, if you want to find out which of Pekin or State Farm is really the best for you, keep reading to see average prices for each carrier broken down by a bunch of different rate factors.

Pekin or State Farm: Average Car Insurance Rates by State

Pekin and State Farm only compete against each other in Indiana, where Pekin offers the cheaper average rates. For Indiana residents, undefined offers car insurance for undefined monthly on average. undefined's average premiums come out to be more expensive, at undefined per month.

There's a lot more that goes into your auto insurance bill than just your home state. Read on to find out more.

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Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive insurance prices of any group on the road. The reason is that young, inexperienced drivers are statistically much more likely to get into an accident that results in a car insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. Just look at the table above -- where 18-year-old drivers who have Pekin for their car insurance pay nearly $200 less than those who use State Farm.

Even so, both carriers will lower premiums once you turn 25. State Farm offers the steepest drop, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Pekin still has the lowest prices at $62 a month.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll typically enjoy the most affordable auto insurance rates out there. You've been on the road for years, and all that experience pays off when it comes to your monthly premiums for insurance.

So, which company offers the best rates to retired drivers? Pekin gets the edge here, with average prices coming in at around $58 monthly compared to State Farm's $111.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are generally less expensive for married drivers than they are for single policyholders? That's normally because married couples tend to own and insure more than one car, which can often earn you a discount.

When it comes to relationship status, Pekin is the clear winner for single drivers, with rates about $95 a month more affordable than State Farm, on average. The advantage for married policyholders with Pekin is also obvious, where drivers save more than $65 per month.

Pekin vs. State Farm: Average Rates by Gender

You may not know, but men usually pay more for car insurance than women do. This is because men are more likely to get into accidents and get tickets, which increases the chances of an insurance claim.

On average, women see premiums around 1% a month less with Pekin, and about 7% less with State Farm when compared to their male counterparts.

Looking at overall affordability, Pekin offers the cheapest average prices for both men and women. On average, male drivers save about $89 per month and women save around $78 with Pekin compared to the average State Farm policyholder.

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Pekin 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.

Insurance can be a complicated subject for most people. Everyone needs car insurance, but there are so many different coverages and terms that it can be hard to find the right policy.

That being said, most policies that many drivers look at fall into two categories -- liability only (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to what you get with liability coverage).

If you're looking for state minimum liability limits, Pekin generally offers significantly less expensive rates of $46 compared to State Farm's $99. When it comes to full coverage policies with similar limits, Pekin again has the edge, with policies about $100 a month cheaper than State Farm, on average.

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

You've probably seen plenty of commercials from 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.

Accidents and tickets will most likely raise your prices, but is Pekin or State Farm more affordable for drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Pekin policyholders can expect their premiums to go up an average of $13 per month if they get a ticket, while State Farm normally raises rates around $21 a month, on average.

But Pekin has less expensive prices for drivers in both categories -- their rates are around 60% more affordable for drivers with clean records and 57% cheaper for those with a ticket.

Which Company is Best for Drivers After an Accident?

Pekin drivers who get in an accident can expect to see their rates climb by just under $20, while those who have insurance through State Farm will see about a $30 increase.

Overall, the less expensive prices come from Pekin, with monthly premiums averaging $73 compared to State Farm's $163.

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 auto insurance bill -- typically a lot more than a collision or speeding ticket. For example, Pekin increases average prices by $50 per month -- that's just under a 50% increase.

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How does Credit Score Impact Pekin and State Farm Rates?

Did you know that many insurance carriers take into account your credit score when calculating rates? This isn't always the case (Hawaii, for example, has banned the use of credit score as a rating factor) but it will come into play for many policyholders.

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

Looking specifically at Pekin and State Farm, which company has the lowest premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

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Is Pekin 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 pretty big impact on your monthly prices? Usually, the more miles you put on your car, the more you can expect to pay for coverage.

For both drivers who put 6,000 miles on their vehicles annually, as well as those who average twice that figure, Pekin offers cheaper premiums than State Farm. Pekin's average rates for drivers with 6,000 annual miles come in around $83 more affordable than State Farm. Those who drive 12,000 miles every year can expect to pay about $83 less with Pekin over State Farm.

Pekin 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 auto insurance, but the type of area you live in can have a large impact as well. Typically, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders because there are a lot fewer vehicles on the road in those areas, which reduces the chances of an accident.

When comparing these two carriers side-by-side, Pekin usually comes out as the most affordable option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to pay around $70 per month with Pekin compared to State Farm's $127. People in suburban areas pay about $68 with Pekin compared to State Farm's $161 a month. In urban areas, Pekin's average prices are around $85 while State Farm offers rates about $185.

Pekin 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.

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

In the table below, we've taken a look at all of the different discounts Pekin and State Farm offer their customers so that you can find the carrier that has the most discounts and, therefore, the biggest savings.

State Farm knocks Pekin out of the park when it comes to the sheer number of discounts available, offering 13 more discounts than Pekin.

A couple of those are overlapping for things like anti-theft discounts, discounts for being a good student, and multi-policy discounts. State Farm also offers ABS discounts, annual mileage discounts, distant student discounts, and more that Pekin does not.

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

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

So, you've seen how different factors can affect your auto insurance premiums. We've broken down the different discounts each company offers, too. That's all well and good, but at the end of the day, which insurance carrier is the right one for you, your vehicle, and your wallet?

Pekin might be best for you if....

• You've been pulled over for speeding recently.
• Your home is located in the suburbs.
• You've started working from home and don't have much of a commute.

State Farm might be best for you if...

• You are considering moving to another state -- undefined only offers policies to residents.
• You're looking for the company with the most discounts.

We hope this guide helps you get a better idea of the difference between Pekin and State Farm. We also hope we've given you the information you need to make the best decision when it comes to your car insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on insurance -- comparing quotes from multiple companies, not just Pekin and State Farm. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP code below and get free quotes from dozens of the top car insurance carriers in your area, all in just a few minutes.

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Pekin vs. State Farm FAQs

Is Pekin or State Farm cheaper?

Looking just at the national average prices, Pekin is the less expensive of the two companies, offering average rates of $74 a month compared to $158 for State Farm. However, Pekin won't necessarily be the lowest carrier for everyone, since there are a variety of different variables that are considered when it comes to your auto insurance payment.

Who is better, Pekin or State Farm?

Unfortunately, the answer truly is "it depends.". One company is not necessarily "better" for each driver -- it all depends on what your unique insurance profile looks like.

Why do Pekin and State Farm offer me different rates?

Car insurance carriers take a look at quite a few different factors when determining the rates they charge drivers. Variables like where your home is, age, where you call home, gender, and sometimes even things like your credit score can all be used. Both Pekin and State Farm calculate premiums using different formulas, so each one will most likely offer different prices. The only real way to see which carrier is the cheapest for you is by comparing personalized quotes from multiple different companies.

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

The only way to find the auto 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, sites like Compare.com do all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best insurance companies in your area. That way, you can guarantee you're getting the most affordable price. And who knows, the best carrier for you might not be Pekin or State Farm at all!

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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.