Hastings Mutual vs. Electric Insurance

Which insurance company is right for you? Compare discounts, premiums, and quotes from Hastings Mutual and Electric.

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Hastings Mutual vs. Electric: What You Need to Know

Hastings Mutual Company was founded in 1885 as Michigan Mutual Tornado, Cyclone and Windstorm Insurance Company to help protect local residents against the tornados that had destroyed small communities of Hastings and other parts of Michigan. The company continued to grow over the years and expanded its business.

The history of Electric Insurance Company began in 1927 when EMLICO, its former company was established to provide GE (General Electric Company) with Workers’ Compensation insurance in Massachusetts. The company was doing so well that it started providing coverage nationally for GE and also included general liability and commercial auto in its product portfolio. By 1966, Electric Insurance Company was formed to ensure GE employees, but after a while, it expanded its business to all consumers. During the 1990s the company becomes one of the first P&C carriers to offer consumers web-based insurance quotes. Today, Electric Insurance manages approximately $160 million in personal lines premiums for nearly 135,000 policyholders and has about $450 million in total written premium. Its services are offered in all 50 states directly via mobile applications and the web and through independent agencies. Its consumer base is 60% of GE employees and 40% general customers.

Below is a list of average rates, rankings, products, and discounts for the two companies. For full company overviews, you can visit Hastings Mutual Insurance Co Overview and Electric Overview.

Hastings Mutual Insurance Co vs. Electric: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Hastings Mutual Insurance Co and Electric. On average, Hastings Mutual Insurance Co charges approximately $154.00 per month while Electric comes in at around $246.58 per month. For Hastings Mutual Insurance Co, the cheapest state average is Ohio at $106.69 per month and the most expensive is Illinois at $208.14 per month. For Electric, the cheapest state average is Missouri at $195.05 per month and the most expensive is Virginia at $350.30 per month.

Hastings Mutual Insurance Co

Average Rate

$154.00
Electric

Average Rate

$246.58
National

Average Rate

$120.03
State Hastings Mutual Insurance Co Electric
Connecticut- $196.83
Illinois $208.14 -
Indiana $128.93 -
Iowa $107.20 -
Kansas- $228.40
Kentucky- $229.03
Maine- $209.55
Michigan $170.40 -
Missouri- $195.05
Ohio $106.69 -
Virginia- $350.30
Wisconsin $128.52 -

Hastings Mutual Insurance Co vs. Electric: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Hastings Mutual Insurance Co and Electric typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Hastings Mutual Insurance Co Electric
1 Vehicle $147.43 $233.10
2 Vehicles $180.32 $297.56
3 Vehicles $250.02 $

Hastings Mutual Insurance Co vs. Electric: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Hastings Mutual Insurance Co charges $137.21 per month and Electric charges $218.53 per month for customers who own their home.

Own/Rent Hastings Mutual Insurance Co Electric
Own $137.21 $218.53
Rent $162.51 $259.12

What is Hastings Mutual and Electric Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Hastings Mutual and Electric ranked among the industry ratings.

ComparisonHastings MutualElectric
Year Founded18851966
Market Share0.2% (2018)
A.M. Best RatingAA
BBB RatingA+A+
Financial StrengthExcellentExcellent
JD Power RankingAbove Average

Hastings Mutual or Electric: Insurance Products Offered

What coverage is available through Hastings Mutual and Electric? Both insurance companies offer Auto, Condo, Home, Renters, and RV insurance. Additional products from Hastings Mutual insurance also include Commercial and Farm insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Hastings Mutual Insurance Co and Electric Insurance page.

InsuranceHastings MutualElectric
Auto Insurance
Commercial Insurance
Condo Insurance
Farm Insurance
Home Insurance
Motorcycle Insurance
Renters Insurance
RV Insurance
Umbrella Insurance

Hastings Mutual or Electric: Ways To Save

Hastings Mutual offers a wide range of discounts to its policyholders, including Claim Free, Defensive Driving, and Good Student discounts. In contrast, Electric also offers a few discounts that Hastings Mutual doesn’t, including Student-Away-from-Home, Safety Features, and Safe Driver discounts. Start taking advantage of discounts offered by insurance providers like Electric and Hastings Mutual insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

Hastings MutualElectric
Away at School DiscountAccident-free Discount
Claim Free DiscountDriver Training Credit
Defensive Driving DiscountElectric and Hybrid Vehicles Discount
Good Student DiscountEmployer Group Discounts
Multi-car DiscountFamily & Friends Referral Discount
Multi-policy DiscountGood Student Discount
Paid in Full DiscountLow Annual Mileage Discount
Paperless Bills DiscountMarried Status Discount
Mature Driver Accident Prevention Course Discount
Multi-policy Discount
New Auto Insurance Customer Discount
New Vehicle Discount
Passive Restraints
Payment-in-full Discount
Plan Ahead (Early Purchase) Discount
Safe Driver Discount
Safety Features Discount
Student-Away-from-Home Discount

Pros & Cons of Hastings Mutual & Electric

Pros

Hastings Mutual
  • Hastings Mutual Company focuses on providing A+ customer service and promoting strong relationships with its customers.
  • Established history: the company has 130 years of service and has built a good reputation among its customers.
  • It has affordable rates.
  • Offers Multi-Policy discounts.
Electric
  • Long list of discounts
  • Additional dedicated discount for General Electric employees
  • Provides the convenience of starting a claim online

Cons

Hastings Mutual
  • Limited service: coverage is available in only 6 midwestern states across the US.
  • It doesn’t offer an online application, you need to call an agent for a quote.
Electric
  • Confusing website information: the company lists the products, benefits, and discounts offered in different web pages making it difficult to get a full scope on what is offered.

Hastings Mutual or Electric Mobile Apps Options

The Always On Mobile app is available for iOS and Android. This mobile app can help you to view your auto insurance information, report an auto claim, upload photos of the vehicle damage, access 24 hours / 7 days a week emergency roadside assistance services, schedule glass repair and much more.

Hastings Mutual Mobile App
Hastings Mutual does not currently have a mobile app.
Electric Mobile App
iOS     12 user reviews
Android     1.934 user reviews

Hastings Mutual & Electric Contact Info

Hastings Mutual Contact Info
Address404 E. Woodlawn Ave. Hastings, MI 49058
Phone1-800-442-8277
Websitehttps://www.hastingsmutual.com/
Facebookhttps://www.facebook.com/HastingsMutual/
Linkedinhttps://www.linkedin.com/company/hastings-mutual-insurance-company/
Electric Contact Info
Address75 Sam Fonzo Drive, Beverly, MA 01915
Phone1-800-342-5342
Websitehttps://eic.electricinsurance.com/
Facebookhttps://www.facebook.com/ElectricInsuranceCompany/
Twitterhttps://twitter.com/ElectricInsCo
Youtubehttps://www.youtube.com/channel/UC2YooRh-4qPtDgZvFHdFMIw
Linkedinhttps://www.linkedin.com/company/electricinsurancecompany/

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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