By: Ishan Mukhopadhyay  Oct. 01, 2018

In an analysis of car insurance policies in Mesa, AZ, conducted by Raltin, it was found that the difference between the cheapest and median priced policies was between $461 and $2036. The greatest difference between the cheapest and median car insurance prices was for the cohort of 18-year-old unmarried males with a clean 3-year record. The cheapest car insurance policy for that cohort was offered by Employers Insurance Guaranty at $977, while the median policy came from American Hallmark Insurance Company of Texas at $3013. For this comparison, Raltin used data for the year  2017 from the Premium Comparison and Complaint Ratios for Automobile Insurance report of the Arizona Department of Insurance.

Just like choosing wisely on insurance companies can influence car insurance premiums, other influential variables are coverage limits, deductibles, and the car model.The vehicle chosen for analysis is a 2010 Honda Civic Ex 4-door sedan. Raltin surveyed drivers with a clean driving record and no credit history. The bodily injury per person limit chosen is $15,000 and the property damage limit chosen is $10,000. The medical payment limit is $5,000. The comprehensive and collision deductibles are $250 and $500 respectively.

The biggest difference between the 75th and 25th percentile of insurance premiums is at 63.85%, for families with young drivers and no traffic violations in the last 3 years. This is followed by 25-year-old unmarried women with one minor violation and one not-at-fault accident in the prior 3 years. The difference for this cohort stands at 45.80%.

The coverage type chosen for this analysis was for the state minimum standard with a combined single limit of $40,000 or split limits of $15,000; bodily injury liability of $30,000; and property damage liability of $10,000.  

An analysis of car insurance policies for some key cohorts is presented below:

18-Year-Old Unmarried Males With A Clean Driving Record for the Last 3 Years: The cheapest car insurance for this segment comes from Employers Mutual Casualty Company at $977, while the median offering is from American Hallmark Insurance Company of Texas at $3,013 . The net savings for investing on the cheapest policy, for this cohort is $2036.

18-Year-Old Unmarried Females With a Clean Driving Record for the Last 3 Years: The cheapest car insurance company for this cohort is again Employers Mutual Casualty Company, but the premium stands at $100 less than for 18-year-old males with the same criteria. The saving from the median here is $1625.

42-Year-Old Married Couples With a Clean Driving Record for the Last 3 Years: This population group is considered to be the safest amongst all others. It is no wonder then that the cheapest premium for them is lower than all the other groups. This is offered by Geico Casualty Company and the saving from the median is $777.

81-Year-Old Single Females With a Clean Driving Record for the Last 3 Years: The cheapest option for this group once again comes from Employers Mutual Casualty Company at $468. Having said that, the median offered by Cincinnati Insurance Company is also extremely low at $1120.

41-Year-Old Unmarried Females With a Clean Driving Record for the Last 3 Years: The median for this group is offered by Central Mutual Insurance Company, and it stands lowest among all the groups, at $903.

Families With a 17-Year-Old Male Son With a Clean Driving Record for the Last 3 Years: The difference between the most expensive and median premium is the highest for this group at $7034. The cheapest half yearly premium is $983—nearly $1000 less—and is offered by United Services Automobile Association.

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The table below lists the prices for each of these cohorts along with the companies offering them.

CohortCheapest Car Insurance Companies in Mesa, AZSecond Cheapest Car Insurance Companies in Mesa, AZMedian Car Insurance Companies in Mesa, AZSecond Most Expensive Companies in Mesa, AZMost Expensive Car Insurance Companies in Mesa, AZDifference Between Cheapest and Median PricesDifference Between Most Expensive and Median Prices
18-Year-Old Unmarried Males with a Clean Driving Record for the Last 3 YearsEMPLOYERS MUTUAL CASUALTY COMPANY ($977)SECURA SUPREME INSURANCE COMPANY ($1274)AMERICAN HALLMARK INSURANCE COMPANY OF TEXAS ($3013)ENCOMPASS PROPERTY AND CASUALTY COMPANY ($6957)PERMANENT GENERAL ASSURANCE CORPORATION ($7857)$2036$4844
18-Year-Old Unmarried Females with a Clean Driving Record for the Last 3 YearsEMPLOYERS MUTUAL CASUALTY COMPANY ($877)SECURA SUPREME INSURANCE COMPANY ($1208)AMERICAN HALLMARK INSURANCE COMPANY OF TEXAS ($2502)LM INSURANCE CORPORATION ($5949)ENCOMPASS PROPERTY AND CASUALTY COMPANY ($5954)$1625$3542
42-Year-Old Married Couples With a Clean Driving Record for the Last 3 YearsGEICO CASUALTY COMPANY ($643)AMERICAN FAMILY INSURANCE COMPANY ($655)AMERICAN ACCESS CASUALTY COMPANY ($1431)LOYA INSURANCE COMPANY ($3251)PERMANENT GENERAL ASSURANCE CORPORATION ($4273)$777$2853
42-Year-Old Married Couples With One At-Fault Accident in the Last 3 YearsSTATE AUTO PROPERTY & CASUALTY INSURANCE COMPANY ($813)AMERICAN FAMILY INSURANCE COMPANY ($973)STATE FARM FIRE AND CASUALTY COMPANY ($1919)ELECTRIC INSURANCE COMPANY ($4733)PERMANENT GENERAL ASSURANCE CORPORATION ($6079)$1103$4163
81-Year-Old Single Females With a Clean Driving Record for the Last 3 YearsEMPLOYERS MUTUAL CASUALTY COMPANY ($468)BADGER MUTUAL INSURANCE COMPANY ($513)CINCINNATI INSURANCE COMPANY ($1120)ELECTRIC INSURANCE COMPANY ($2229)PERMANENT GENERAL ASSURANCE CORPORATION ($3120)$636$2016
41-Year-Old Unmarried Females with a Clean Driving Record for the Last 3 YearsSTATE AUTO PROPERTY & CASUALTY INSURANCE COMPANY ($442)AMERICAN FAMILY INSURANCE COMPANY ($452)CENTRAL MUTUAL INSURANCE COMPANY ($903)LM INSURANCE CORPORATION ($2061)PERMANENT GENERAL ASSURANCE CORPORATION ($2680)$461$1777
Families With a 17-Year-Old SonUNITED SERVICES AUTOMOBILE ASSOCIATION ($983)AMERICAN FAMILY INSURANCE COMPANY ($1055)COUNTRY MUTUAL INSURANCE COMPANY ($2780)ELECTRIC INSURANCE COMPANY ($6510)PERMANENT GENERAL ASSURANCE CORPORATION ($9814)$1797$7034


ABOUT THE AUTHOR

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Ishan Mukhopadhyay

Ishan has over 5 years of experience as a freelance journalist and a content writer. He graduated from The English and Foreign Languages University and holds a Masters degree from the University of Hyderabad. Apart from the English language, Ishan's other passion is data driven journalism.

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