Co-operative vs. Nationwide: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for insurance, Co-operative offers more affordable prices than Nationwide
• Co-operative tends to be a much less expensive option for drivers who have received a ticket within the last few years
• Nationwide offers more discounts than Co-operative Insurance Companies

Co-operative vs. Nationwide: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? After all, you've seen ads from all sorts of companies offering hefty discounts. But exactly how much can you save by switching?

You might be considering Co-operative or Nationwide, but between the two, which carrier will save you the most?

Looking at nationwide averages, Nationwide has average rates that are about 16% per month more expensive than those from Co-operative.

That being said, that doesn't necessarily mean Co-operative will be the cheaper option for each driver. Car insurance companies use tons of complex algorithms to calculate rates, so depending on how old you are or where you live (among a variety of other factors), you could see wildly different premiums from the ones above.

So, if you want to find out which of Co-operative or Nationwide is really the best for you, keep reading to see average rates for each company broken down by a range of different rate factors.

Co-operative or Nationwide: Average Car Insurance Rates by State

Co-operative and Nationwide only compete against each other in Vermont, where Nationwide offers the cheaper average prices. For Vermont residents, Nationwide offers auto insurance for $113 per month on average. Co-operative's average rates come out to be over 20% more expensive, at $143 a month.

There are plenty of other factors that go into your insurance payment than just where you call home. Read on to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance prices of any other group of drivers. That's typically because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

However, that doesn't mean that teen drivers have to just accept sky-high car insurance premiums. For example, 18-year-old drivers pay an average of nearly $85 less a month by choosing Co-operative over Nationwide.

Even so, both carriers will drop prices by the time you turn 25. For example, average premiums for Co-operative policyholders reduce more than 55% and Nationwide's rates decrease over 60% over that time.

Which is the Best Company for Retired Drivers?

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

But who has the best prices for retired drivers between Co-operative and Nationwide? Co-operative gets the edge here, with average rates coming in at around $107 monthly compared to Nationwide's $125.

Which is the Best Company for Married Drivers?

Did you know that insurance premiums are generally more affordable for married couples than they are for those who are single? That's because policies for married drivers usually cover more than one car, which quite a few companies will offer you a discount for.

When it comes to relationship status, Co-operative is the clear winner for single drivers, with prices about $36 per month cheaper than Nationwide, on average. The advantage for married policyholders with Co-operative is also obvious, where drivers save almost $15 a month.

Co-operative vs. Nationwide: Average Rates by Gender

Because men are more likely to get tickets and get into collisions, they are more likely to file a claim with insurance. Therefore, insurance carriers will tend to charge men more than women.

Usually, women see premiums around $10 per month less expensive with Co-operative, while with Nationwide, the difference is closer to $12 a month.

Looking at overall affordability, Co-operative offers the cheapest average rates for both men and women. On average, male drivers save about $28 per month and women save about $25 with Co-operative compared to the average Nationwide policyholder.

Co-operative or Nationwide: 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.

Car insurance isn't the easiest topic to understand. There are a variety of different coverages that account for many different things. Some protect you and your vehicle, while others only provide coverage for other people's property and health if you cause an accident.

But the most common policies that many drivers look at fall into two categories -- liability only (which provides bodily injury and property damage coverage for other drivers and their passengers if you cause a collision) and full coverage (which includes two additional coverages -- comprehensive and collision -- in addition to what you get with liability coverage).

If you're looking for state minimum liability insurance, Co-operative normally offers significantly more affordable prices of $65 compared to Nationwide's $112. When it comes to full coverage policies with similar limits, Co-operative again has the edge, with policies around $7 a month less expensive than Nationwide, on average.

Is Co-operative or Nationwide Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto 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 Co-operative or Nationwide cheaper for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers with Co-operative car insurance policies don't report seeing their rates increase after getting a ticket, but Nationwide policyholders can expect to see their monthly bill increase by about 15%.

However, Co-operative tends to offer the best prices for drivers both with a ticket and with a clean record -- their rates are around 16% less expensive for drivers with clean records and 30% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their insurance through Co-operative can expect to see around an $35 -- or about 25% -- increase in their auto insurance premiums. Drivers who use Nationwide for their insurance will see a monthly bill around $53 (or 30%) more expensive after reporting an accident to their car insurance carrier.

Overall, drivers who use Co-operative end up with the cheaper prices after an accident, with monthly rates averaging $140 compared to Nationwide's $178.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single accident or speeding ticket when it comes to your insurance bill. For example, Co-operative increases average prices by over $100 per month -- that's just under a 55% increase.

How does Credit Score Impact Co-operative and Nationwide Rates?

Did you know that many auto insurance carriers take your credit score into account when calculating premiums? This isn't always the case (for example, California and Michigan are two states that ban the practice entirely), but it does affect a lot of policyholders out there.

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 at Co-operative and Nationwide specifically, which one has the best prices for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Co-operative or Nationwide Better for Drivers who Work from Home or Have Short Commutes?

The amount of time you spend behind the wheel of your car plays a big role in your monthly auto insurance cost. Generally, the more miles you put on your vehicle each year, the more you can expect to pay for insurance.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Co-operative charges. However, there's a small difference in monthly rates for Nationwide, with policyholders who drive 6,000 miles each year paying about $1 less every month compared to those who drive 12,000 miles annually. Still, Co-operative is the cheaper option for drivers in both categories.

Co-operative vs. Nationwide: 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 car insurance, but the type of area you live in can have a big impact as well. Usually, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders because of the number of cars that are on the roads in those areas.

Co-operative tends to offer the cheapest rates for drivers in every type of area, no matter if it's urban, suburban, or rural.

If you live in a rural area, you can expect to save around 4% with Co-operative compared to Nationwide. Drivers in suburban ZIP codes pay about 6% less with Co-operative compared to Nationwide. In urban areas, Co-operative Insurance Companies's average premiums are around 31% less than Nationwide.

Co-operative vs. Nationwide Discounts

You want to save as much money as possible, right? The best way to do that is by taking advantage of as many auto insurance discounts as you can.

But with what seems like a million different discounts out there, it can be difficult to find all the ones you can take advantage of or to nail down the carrier that has the most discounts for your unique driver profile.

Below, we've broken down all of the different discounts offered by both Co-operative and Nationwide so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

Nationwide blows Co-operative away when it comes to the sheer amount of discounts available, offering 22 different discounts to Co-operative's 15.

Both carriers offer several of the same discounts -- like discounts for being a defensive driver, discounts for being a good driver, and group discounts -- but Nationwide also offers advance quote discounts, agency transfer discounts, distant student discounts, and more that Co-operative does not.

On the flip side, Co-operative has a couple unique discounts of its own -- ABS discounts, DRL discounts, hybrid vehicle discounts, and more.

Final Thoughts: Is Co-operative or Nationwide Best for You?

You've seen the role certain factors have on your car insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, which company is the right fit for you?

Co-operative might be best for you if....

• You have a DUI charge on your record.
• Your neighborhood is in the suburbs.
• You're buying insurance for a teen and looking for a wallet-friendly option.

Nationwide might be best for you if...

• You're thinking about moving to another state -- undefined only offers policies in.
• You're looking for the carrier with the most discounts.

We hope this guide helps you get a good idea of the differences between Co-operative and Nationwide and that it aids in making a more informed decision about your car insurance.

At the end of the day, the best way to make sure you're getting the best deal on your insurance policy is to compare quotes from multiple carriers, not just Co-operative and Nationwide. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get multiple free quotes from some of the best auto insurance companies in your area, all in just a few minutes.

Co-operative vs. Nationwide FAQs

Is Co-operative or Nationwide cheaper?

Looking just at the national average prices, Co-operative is the more affordable of the two carriers, offering average rates of $143 a month compared to $170 for Nationwide. Even so, Co-operative won't necessarily be the most affordable company for each driver, since there are several different variables that are considered when it comes to your insurance bill.

Who is better, Co-operative or Nationwide?

Sadly, the real answer is "it depends.". No single carrier is necessarily "better" for everyone -- it all depends on the makeup of your unique auto insurance profile.

Why do Co-operative and Nationwide offer me different rates?

Car insurance companies take a look at several different factors when determining the rates they charge drivers. Things like age, gender, where you park your vehicle, your driving record, and sometimes even things like your credit score can all be used. Both Co-operative and Nationwide calculate premiums using different variables, so each one will most likely offer different rates. The only real way to see which company is the lowest for you is by comparing personalized quotes from multiple different carriers.

How do I know if Co-operative or Nationwide is right for me?

The only way to find the auto insurance carrier that's right for you is by getting quotes from a handful of companies and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get free quotes from dozens of the best car insurance carriers in your area. With those, you can guarantee you're getting the best premium. And who knows, the best company for you might not be Co-operative or Nationwide at all!

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.