Nationwide vs. State Farm Auto Insurance in 2021
Nationwide and State Farm are top competitors in the car insurance industry. When you compare Nationwide vs. State Farm auto insurance, you'll find that State Farm's rates are cheaper than Nationwide's. Scroll down to compare more Nationwide vs. State Farm car insurance quotes, discounts, and company ratings for free.
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UPDATED: Feb 6, 2021
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- State Farm has the largest market share in the auto insurance industry.
- Teen drivers pay less for auto insurance at Nationwide.
- State Farm DUI-based auto insurance is cheaper than Nationwide’s.
- You can save money on auto insurance when you bundle Nationwide pet insurance and Nationwide Retirement to your policy.
Our Nationwide vs. State Farm auto insurance review explains which company is the cheapest, the available auto insurance coverages, how to qualify for discounts, and each companies’ third-party ratings.
You can compare Nationwide vs. State Farm car insurance quotes in your area by entering your ZIP code in the free online comparison tool above.
Nationwide vs. State Farm Auto Insurance: Which company is the Cheapest?
Before we get into Nationwide vs. State Farm auto insurance rates, let’s see the matchup between both companies.
|Summary||Nationwide Auto Insurance Stats||State Farm Auto Insurance Stats|
|Headquarters||One West Nationwide Blvd. Columbus, OH 43215-2220||One State Farm Plaza Bloomington, IL 61710|
|Available in how many states?||All States||All States|
|Direct Premiums||$6.6 Billion||$41.1 Billion|
State Farm towers over Nationwide when you compare direct premiums. Nationwide’s market share is much smaller than State Farm’s share in the auto insurance industry.
Does that make State Farm a better or cheaper company? We’ll let you decide. If you want a concentrated look into State Farm, check out our State Farm auto insurance review.
Which is cheapest by driving record?
Your driving record stands between you and affordable car insurance. When you have a clean driving record, you can get auto insurance for a much lower price.
Is that true for Nationwide and State Farm? Let’s see.
|Driving Record Summary||Nationwide Monthly Auto Insurance Rates||State Farm Monthly Auto Insurance Rates|
|Clean Driving Record||$229||$235|
|With One Speeding Violation||$259||$266|
|With One Accident||$283||$283|
|With One DUI||$379||$303|
It appears that a clean driving record has the cheapest car insurance rate when compared to other driving records. DUIs on a driving record are the most expensive, but State Farm’s DUI-based car insurance is less expensive than Nationwide’s.
Which is cheapest by credit score?
Did you know your auto insurance company will determine your rates based on credit score?
A person with good credit will receive cheaper auto insurance rates than someone with poor credit. Car insurance companies believe poor credit is associated with higher chances of filing a claim.
So how does this affect Nationwide vs. State Farm car insurance rates? Let’s look at the rates below.
|Credit Score Summary||Nationwide Monthly Auto Insurance Rates||State Farm Monthly Auto Insurance Rates|
|Good Credit (670-739)||$244||$181|
|Fair Credit Score (580-669)||$271||$238|
|Poor Credit Score (300-579)||$340||$413|
Auto insurance rates based on good credit can save you hundreds per year. Poor credit can put a dent in your finances. However, Nationwideauto insurance is cheaper for policyholders with poor credit.
Which is cheapest by age and gender?
Auto insurance for teens is usually the most expensive rate you’ll find at any company. A driver’s age correlates to experience, but gender is associated with risk.
Since male drivers usually take more risks than female drivers, auto insurance companies increase rates for male drivers.
How are State Farm and Nationwide car insurance rates calculated? Let’s examine the monthly rates based on age and gender.
|Age, Gender, and Marital Status||Nationwide Monthly Auto Insurance Rates||State Farm Monthly Auto Insurance Rates|
|Married 35-year-old female||$197||$173|
|Married 35-year-old male||$199||$173|
|Married 60-year-old female||$178||$156|
|Married 60-year-old male||$185||$156|
|Single 17-year-old female||$480||$496|
|Single 17-year-old male||$598||$610|
|Single 25-year-old female||$224||$195|
|Single 25-year-old male||$241||$213|
State Farm insurance is cheaper for drivers 25 and older, but teen drivers can save more money on Nationwide insurance. If you qualify for discounts, you can slash prices to a more affordable rate.
Which is cheapest by coverage level?
Is the minimum car insurance requirement enough? Some states carry insufficient limits, even at the minimum requirement. It may be recommended that you buy a higher coverage limit.
But how does that affect Nationwide and State Farm auto insurance? Let’s look at the cost of car insurance based on coverage level.
|Coverage Level Summary||Nationwide Monthly Auto Insurance Rates||State Farm Monthly Auto Insurance Rates|
|Low Coverage Level (Depends on State)||$283||$255|
|Medium Coverage Level (50/100/50)||$287||$272|
|High Coverage Level (100/300/100)||$292||$288|
Although State Farm is cheaper, there’s not much difference in monthly auto insurance rates when you consider medium and high coverage. How so? Under the coverage level, Nationwide is only $4 more than State Farm.
Which is cheapest by commute mileage?
Driving your car less can save you money on car insurance and reduce your chances of getting into an accident. If you can go without driving your vehicle as much as the average person, you can expect cheaper rates on your auto insurance bill.
Let’s look at how miles per year can affect your Nationwide or State Farm auto insurance.
|Estimated Commute Mileage||Nationwide Monthly Auto Insurance Rates||State Farm Monthly Auto Insurance Rates|
|10 Miles Commute (6,000 miles/yr)||$286||$265|
|25 Miles Commute (12,000 miles/yr)||$289||$279|
State Farm is the cheaper company, but you’ll pay more money when you transition from 6,000 miles per year to 12,000 miles per year at State Farm, where Nationwide auto insurance only has a $3 increase.
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Nationwide vs. State Farm Auto Insurance Coverages
Are you looking for more coverage options? Both companies provide other auto insurance coverages you can choose from. But which company has more? Compare Nationwide vs. State Farm car insurance coverages below.
|Nationwide Auto Insurance Coverages||State Farm Auto Insurance Coverages|
|Bodily Injury Liability||Collision Coverage|
|Property Damage Liability||Comprehensive Coverage|
|Medical Payments coverage||Liability Coverage|
|Collision coverage||Car Rental and Travel Expenses Coverage|
|Comprehensive coverage||Uninsured Motorist Coverage|
|Uninsured & Underinsured Motorist Coverage||Underinsured Motorist Coverage|
|Personal Injury Protection||Medical Payments Coverage|
|GAP Coverage||Emergency Roadside Assistance|
|Rental Car Expense||Rideshare Driver Coverage|
|Total Loss Deductible Waiver|
|Towing and Labor Coverage|
When it comes to auto insurance coverage flexibility, Nationwide has the upper hand. State Farm is short on car insurance coverages, but it makes up for it with low cost.
Nationwide vs. State Farm Auto Insurance: Who has more discounts?
We mentioned discounts a few times in the guide, but now you get to see Nationwide and State Farm’s discount values. Match up the values and see which company can provide a better deal.
|Auto Insurance Discount Name||Nationwide Discount Values||State Farm Discount Values|
|Accident Free Discount||Varies||15%|
|Affinity group discount||Varies||N/A|
|Anti-lock Brake Discount||N/A||20%|
|Anti-Theft Device Discount||5%||15%|
|Claims Free Renewal Discount||N/A||Varies|
|Daytime Running Lights Discount||N/A||Varies|
|Defensive Driver Discount||10%||5%|
|Driving Habits Discount||Varies||30%|
|Driving training discount||N/A||Varies|
|Farm Bureau Discount||10%||N/A|
|Good Credit Discount||N/A||80%|
|Good Driver Discount||10%||25%|
|Good Student Discount||15%||25%|
|Home Owner Discount||N/A||Varies|
|Low Mileage Discount||N/A||10%|
|Mature driver discount||N/A||Varies|
|Multiple Policy Discount||25%||17%|
|Multiple Vehicle Discount||20%||20%|
|New Car Discount||N/A||40%|
|Paperless documents discount||Varies||N/A|
|Passive Restraint Discount||N/A||40%|
|Preferred payment discount||Varies||N/A|
|Senior Adult Discount||N/A||Varies|
|Student Away at School Discount||N/A||Varies|
State Farm appears to win the battle of the discounts with 24 total discounts against Nationwide’s 19 total discounts.
Nationwide vs. State Farm Auto Insurance Reviews
You’ve seen everything about Nationwide vs. State Farm car insurance rates. We’ve come to the review and rating portion of the guide.
To organize this section effectively, we split it into three parts to ensure you get everything you need to know about Nationwide and State Farm.
Pros and Cons
Let’s start with some of the advantages and disadvantages both companies face. We’ve put the pros and cons side-by-side so you can compare them more effectively.
|Nationwide Pros||Nationwide Cons||State Farm Pros||State Farm Cons|
|Choice of an agent or buying coverage directly.||Customer satisfaction ratings are average to below-average||Easy to file a claim||Cost is higher for customers with poor credit|
|One-stop shopping with lots of bundling options||No rideshare insurance available||Cheap auto insurance rates||Has fewer discounts than most competitors|
|Rates are below average in most states||Fewer add-on options than many other companies||Good financial strength ratings|
|Excellent customer review ratings|
State Farm has more pros than cons, while Nationwide appears to have an equal number of advantages and disadvantages.
Financial Strength and Credit Ratings
If you’ve ever wondered how well car insurance companies managed money, look at third-party financial strength and credit ratings. These ratings interpret the financial stability and customer experience in one singular score. Let’s look at the results.
|Agencies||Nationwide Ratings||State Farm Ratings|
|AM Best||A+ (Excellent)||A++ (Superior)|
|Better Business Bureau (BBB)||A||A+|
|Moody's||A1 (Good)||Aa1 (Excellent)|
|S&P||A+ (Good)||AA (Excellent)|
|NAIC Complaint Index||1.45||0.98|
|J.D. Power - Power Circle Ratings||About Average||Better Than Most|
Nationwide has good ratings, but State Farm has gone above and beyond. Third-party rating agencies can make or break a company. However, Nationwide and State Farm are part of an elite group, where they can easily make up for mistakes.
Mobile App Ratings
Smartphone access to your car insurance provider has become a near-essential to the customer experience.
If you want to access Nationwide and State Farm on your smartphone, you’ll need to create a Nationwide or State Farm insurance login. You can do this on your desktop computer or from your phone.
Once you create a State Farm or Nationwide insurance login, you can access the app on any smartphone.
Which auto insurance company performs better on iOS and Android? Let’s compare the mobile app star ratings:
|Smart Device Stores/Systems||Nationwide Mobile App Star Ratings||State Farm Mobile App Star Ratings|
|Apple App Store (iOS)||2 stars||3 stars|
|Google Play Store (Android)||3 stars||4 stars|
Nationwide is currently struggling with mobile app ratings, but State Farm appears to be doing okay. Your experience could vary, so give these apps a shot if you buy a policy from either company.
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Nationwide vs. State Farm Auto Insurance: The Bottom Line
State Farm has the advantage over Nationwide when you consider auto insurance rates, discounts, market share, and direct premiums. However, Nationwide has more coverage options and cheaper insurance rates for teens.
You don’t have to stop here though, the Nationwide vs. State Farm comparison could be different for you. Enter your ZIP code in the free online quote tool and see if your local area has Nationwide vs. State Farm car insurance quotes.