It is a daunting method to shop for auto insurance, and insurance firms are in no rush to simplify it. Auto insurance rates are dependent on various factors, some of which you can regulate and some of which you can not. To help you find out which car insurance provider is a better suit for you, we compare Nationally and State Farm.
One of the world's largest insurance firms is Nationwide and is located in Columbus, Ohio. Nationwide offers financial services such as annuities, mutual funds, pensions, and mortgages, in addition to insurance policies. In legislative properties, Nationwide has over $158 billion. The customers of Nationwide were also pleased with the ease of filing a claim, contact during the process of suing, and settlement of claims. The bulk of Nationwide's concerns came from consumers who were not pleased with their insurance plans' value.
Established in 1922, State Farm is quickly approaching its hundredth anniversary of offering car insurance. The company celebrated its millionth car insurance policy in 1944 and has since introduced to its offerings more forms of insurance. Customers have also reported positive interactions with State Farm with filing claims, claim settlement, and customer service. On the negative side, State Farm clients thought that during the claims process, they would benefit from improved communication and that overall value could be better, while State Farm's scores were still ahead of or on par with most rivals in these areas.
State Farm is a better choice for most customers than Nationwide based on their national average representative prices, as determined by the data in our report. State Farm has a national average representative rate of $1234 relative to Nationwide's national average representative automobile insurance rate of $1864, reflecting some savings. State Farm's study rate is lower than the $1416 national average rate, though Nationwide's is hundreds of dollars above the average.
Our study data shows that USAA is the only insurer with lower representative national average rates on our list than State Farm. State Farm placed in third place in our overall ranking of the cheapest insurance providers, with Nationwide landing at the top as the second most expensive.
In setting car insurance rates, age and gender play significant roles. In general, as drivers get older and more experienced, rates go down, although there are often exceptions to the rule. For all male driver profiles (25, 35, and 60), State Farm has lower average rates than Nationwide. Let's begin with the single 25-year-old male driver profile, with State Farm's average representative rate of $1469 and Nationwide's $2314. This driver profile would save about 12 percent with State Farm and pay about 39 percent more Nationwide than this group's national average cost of $1669. State Farm reveals a national average representative rate of $1205 for the married 35-year-old male driver profile, while the average representative rate for that driver profile Nationwide is $1774. This driver profile would save about 12 percent with State Farm than the national average rate of $1368 for this category and pay about 30 percent more with Nationwide. Next up is the driver profile for 60-year-old married men and research data shows average representative prices with State Farm of $1098 and Nationwide of $1649. This category's national average cost comes in at $1267, so this driver profile with State Farm would save about 13 percent and pay with Nationwide about 26 percent more.
According to the data in our report, State Farm's average representative rate for the single 25-year-old female driver profile is $ 1330, while the average representative rate of Nationwide for that driver profile is $2157. For all businesses in our sample for In this category, the average nationwide rate is $1593. State Farm's representative rate is about 17 percent below this level, and the usual rate of Nationwide is about 34 percent above that average. As women hit age 35 and get married, the rates in our research go down for both businesses. Data for State Farm indicates an average representative rate of $1205 for married 35-year-olds for the driver category, while the representative rate for this driver profile for Nationwide is $1754. For this category, the average representative rate is $1370. State Farm's representative rate is about 12 percent below this level, and the representative rate of Nationwide is about 28 percent above that average. They see another decline in rates as women reach 60. State Farm shows an expected rate for this driver profile of $1098, and according to study results, Nationwide's representative rate is $1535. For this category, the average rate is $1229. State Farm's representative rate is about 11 percent below this level, and the representative rate of Nationwide is about 25 percent above that average.
It should be noted that data shows that the national average representative rates of State Farm are the same for driver profiles for married men and women in the 35- and 60-year age groups. However, there is a gap in driver profiles for men and women in the 25-year age group, with higher average representative rates.
When they determine the premiums, several auto insurance companies weigh how many miles you drive in a year. Next, let's take a look at what you might expect, or 12000 miles per year, from Nationwide and State Farm for high mileage. According to research results, State Farm, which has a national average representative cost of $1234, would be better off with this driver profile. With an overall representation cost of $1864, Nationally comes in a little higher. For this driver profile, the average countrywide rate is $1416.
Thanks to its lower national average representative cost of $1114, State Farm again has an advantage. The total representation rate for Nationwide comes in at $1849. The countrywide average is $1371 for this category. You might be shocked to learn that low-mileage drivers do not save much compared to high-mileage drivers for both businesses. The group with low mileage saves just about 11 percent compared to the group with high mileage, based on State Farm's study rates. The savings for Nationwide are less than 1 percent.
Consumers might be shocked to learn that their credit score and credit history play a part in auto insurance pricing. Exactly how much your credit score influences your rates are challenging to figure out, but our survey data shed some light on the situation. According to data from our report, the driver profiles for drivers with good credit are better off with State Farm than with Nationwide. The average national representative rate for this group from State Farm is $1231, while the national average representative rate for this group from Nationwide is $1847. For this category, the average is $1401. State Farm's representative rate is approximately 12 percent lower than the norm, and Nationwide's is about 32 percent above the average.
We will look at our driver profiles for customers with bad credit on the other end of the continuum. Most auto insurance companies charge higher premiums for drivers with low credit because they are viewed as a greater risk. Our study data shows that Nationwide should be considered by clients that suit these driver profiles. With a national average representative cost of $2549, Nationwide is around midpack for these driver profiles. State Farm's average national representative price of $2745 comes in on the higher side for these driver profiles. For this category, only one rival insurance firm, Allstate, has more excellent representative rates. For this category, the average is $2353. The gap between State Farm's representative rates for good and bad credit is around 123 percent to illustrate how much credit can impact insurance premiums. The rise for Nationwide is around 38 percent.
Next up, we'll look at driving records that, according to our report, have a significant effect on car insurance rates. According to study data for our driver profiles, drivers with a clean record can expect to pay less for State Farm than Nationwide. State Farm's national average representative rate for this driver profile is $1234, while the average rate of Nationwide comes in at $1864. According to research results, the average for this driver's profile is $1416. State Farm's representative rate is approximately 13 percent below average, and Nationwide's is about 32 percent above average.
In more ways than one, getting a speeding ticket is costly. Your vehicle premium is likely to go up after you have paid the penalties. Our data from the study and driver profiles will help illustrate how much this moving breach can potentially cost. For the speeding ticket driver profiles, State Farm, with an average national representative cost of $1375, is the cheaper of these two firms. According to study results, which shows an average national representative rate of $2263 for these driver profiles, you will probably pay a bit more with Nationwide. For this category, the average rate is $1724. State Farm's representative rate for this profile is about 20% lower than average, and Nationwide's is about 31% higher than average.
According to our study data and driver profiles, customers who have a single instance of driving under the influence, or DUI, on their record should check out State Farm until Nationwide. For these driver profiles, State Farm has an average national representation rate of $1681, while the average representative rate for Nationwide is $4011. State Farm has the lowest representation rate for our driver profile with a DUI relative to our study's other insurance firms. The average representative rate of Nationwide is the highest among the category of insurance companies in the report. State Farm's representative rate is about 32 percent below average compared to the national average rate of $2464, and Nationwide's is about 63 percent higher.
Take a look at the gap between State Farm's representative premiums for the driver profile with a clean record and the premium for the driver profile with a DUI, a combined rise of 36 percent, to get a sense of how much these violations impact car insurance. The discrepancy with Nationwide is a rise of approximately 115 percent as the magnitude of the offense increases.
According to our driver profiles, State Farm is the less costly of these two insurance providers, by a wide margin, for consumers with a single accident on their driving record. Study data reveals that for our driver profiles with one crash, State Farm's average national representative rate is $1487, while the average representative rate of Nationwide for this category is $2766.
State Farm's representative rate for this driver profile is the second-lowest of the companies in the report, after USAA, but the highest is Nationwide's. State Farm's expected rate is again below average, by about 27 percent, with an average national rate of $2028, and Nationwide's is also above average, by about 36 percent.
The auto insurance rates published in this guide are based on the results of research completed by Way.com’s data team. Using a mix of public and internal data, we analyzed millions of rate averages across U.S. ZIP codes.
Quotes are typically based on a full coverage policy average unless otherwise noted within the content.
These rates were publicly sourced from insurer filings and should be used for comparative purposes only — your own quotes will differ. Given this, it’s important to go through our insurance steps form to find how much you can save with way.com
For most customers, State Farm is a better bet than Nationwide. USAA is the only insurer with lower representative national average rates on our list than State Farm.
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