Colorado Farm Bureau vs. Nationwide: Which Company is the Best Fit for You?

Quick Facts

• In general, Colorado Farm Bureau offers significantly more affordable premiums than Nationwide
• Colorado Farm Bureau offers more affordable prices for policyholders who may not have much of a commute
• Nationwide offers more discounts than Colorado Farm Bureau Insurance

Colorado Farm Bureau 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 large discounts. But exactly how much can you save by switching?

You might have narrowed it down to Colorado Farm Bureau or Nationwide for your next policy, but between the two, which one will offer you less expensive premiums?

Looking at the national average rates for both companies, Nationwide has average rates that are about 22% per month more expensive than those from Colorado Farm Bureau.

That being said, that doesn't mean Colorado Farm Bureau will necessarily be cheaper than Nationwide for every single driver. Insurance carriers use a variety of complex algorithms to calculate prices, so depending on where you live or how old you are (among numerous other factors), you could see wildly different rates from the ones above.

Wanting to know if Colorado Farm Bureau or Nationwide is really the right company for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

Colorado Farm Bureau or Nationwide: Average Car Insurance Rates by State

Colorado Farm Bureau and Nationwide only compete against each other in Colorado, where Colorado Farm Bureau offers the cheaper average rates. For Colorado residents, undefined offers auto insurance for undefined per month on average. undefined's average premiums come out to be more expensive, at undefined a month.

There's a lot more that goes into your insurance payment than just your home state. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for auto insurance than any group on the road. Normally, that's 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 teen drivers can't still save money on their car insurance. For example, 18-year-old drivers pay an average of more than $150 less a month by choosing Colorado Farm Bureau over Nationwide.

Even so, both companies will offer you dramatically lower rates once you turn 25. For example, average prices for Colorado Farm Bureau policyholders decrease nearly $90 and Nationwide's premiums reduce around $250 over that time.

Which is the Best Company for Retired Drivers?

When it comes to auto insurance, patience and experience pay off, with drivers around retirement age paying some of the most affordable rates you can find.

When looking at Colorado Farm Bureau and Nationwide specifically, which carrier is best for retired drivers? Colorado Farm Bureau gets the slight edge, with prices for drivers 65 and older $11 less expensive than the national average for Nationwide.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance premiums tend to be more affordable for married couples than they are for single drivers. That's because policies for married drivers typically cover several cars, which lots of carriers will offer you a discount for.

When it comes to relationship status, Colorado Farm Bureau is the clear winner for single policyholders, with prices about $51 per month less expensive than Nationwide, on average. The advantage for married policyholders with Colorado Farm Bureau is also obvious, where drivers save over 15% a month.

Colorado Farm Bureau vs. Nationwide: Average Rates by Gender

Did you know women usually pay less for insurance than men? This is because men are statistically more likely than women to get into collisions and get speeding tickets, which leads to increased risk for insurers and, therefore, higher rates.

Men typically pay around 2% more per month than women with Colorado Farm Bureau, and about 7% more with Nationwide.

When it comes to the lowest premiums for each gender, Colorado Farm Bureau comes out on top for both men and women, with average rates $43 less for men and $33 cheaper for women.

Colorado Farm Bureau 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.

For most people, car insurance isn't the easiest topic to understand. There are a bunch of different coverages that account for a variety of 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 (that covers property damage and bodily injury for other drivers if you cause a collision) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, alongside what you get with a liability policy).

If you're looking for state minimum liability limits, Colorado Farm Bureau usually offers significantly more affordable premiums of $71 compared to Nationwide's $112. When it comes to full coverage policies with similar limits, Colorado Farm Bureau again has the edge, with policies around $35 a month cheaper than Nationwide, on average.

Is Colorado Farm Bureau or Nationwide Better for Drivers with Spotty Records?

It's no big secret that drivers who are accident-free get better deals on their auto insurance. But even if you have a spotty record, you can still find plenty of ways to save some cash on your monthly bill.

It's no secret secret that at-fault accidents and tickets lead to higher prices, but which company -- Colorado Farm Bureau or Nationwide -- has the most affordable rates for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Colorado Farm Bureau policyholders can expect their prices to go up an average of $22 per month if they get a ticket, while Nationwide normally raises premiums about $24 a month, on average.

That being said, Colorado Farm Bureau is generally the more affordable option for drivers both with clean records and with a speeding ticket -- their rates are around 10% cheaper for drivers with clean records and 10% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Colorado Farm Bureau drivers who get in an accident can expect to see their prices rise by just under 20%, while those who have insurance through Nationwide will see around a 30% increase.

Overall, the cheaper premiums come from Colorado Farm Bureau, with monthly rates averaging $137 compared to Nationwide's $178.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- usually a lot more than a collision or ticket. Nationwide drivers usually see a 46% climb in their auto insurance premiums after a DUI charge, while Colorado Farm Bureau will typically increase rates by about 22%.

How does Credit Score Impact Colorado Farm Bureau and Nationwide Rates?

You may not have known, but your credit score can come into play when companies determine your monthly bill. This isn't always the case (Massachusetts, for example, has banned the use of credit score as a rating factor) but it does affect many policyholders out there.

Insurance carriers argue that those with good credit scores are more likely to pay their bills on time each month, which lowers the risk involved on their end, while the opposite is true for those with bad credit.

Looking at Colorado Farm Bureau and Nationwide specifically, which company has the lowest prices for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Colorado Farm Bureau or Nationwide Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a considerable impact on your monthly car insurance bill. Normally, those who drive fewer miles will end up with more affordable rates since there's less of a chance of getting into an accident and causing an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Colorado Farm Bureau charges. However, there's a small difference in monthly premiums for Nationwide, with drivers who put 6,000 miles on their car annually paying around $1 less every month compared to those who drive 12,000 miles each year. Still, Colorado Farm Bureau is the less expensive option for drivers in both categories.

Colorado Farm Bureau vs. Nationwide: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can have a substantial impact on your monthly insurance cost. Generally, if you live in a rural area with fewer cars on the road, you'll pay a little less for car insurance, while the opposite is true for people in urban areas.

Colorado Farm Bureau boasts the cheapest average prices for drivers in every type of area, no matter if it's urban, suburban, or rural.

Policyholders in rural ZIP codes see the lowest premiums from both companies, but Colorado Farm Bureau comes out on top with average prices about $85 monthly. Colorado Farm Bureau also has more affordable average rates for drivers in urban and suburban ZIP codes -- a $44 and $3 per month respective difference when compared to Nationwide policyholders in similar areas.

Colorado Farm Bureau vs. Nationwide Discounts

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

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

In the section below, we've compared all of the different discounts offered by Colorado Farm Bureau and Nationwide so that you can find the one that has the most discounts and, therefore, the biggest savings.

Nationwide blows Colorado Farm Bureau away when it comes to the sheer amount of discounts available, offering 18 more discounts than Colorado Farm Bureau.

There are a couple discounts both carriers offer, but Nationwide also offers advance quote discounts, agency transfer discounts, anti-theft discounts, and more that Colorado Farm Bureau does not.

Colorado Farm Bureau's discounts come through just a few categories, including Defensive Driver, Driver Training, Good Student, and more.

Final Thoughts: Is Colorado Farm Bureau or Nationwide Best for You?

So, we've broken down the average prices for many of the variables car insurance companies look at, and we've shown you all the discounts each company offers. But, when it comes down to it, which insurance carrier is the right company for you and your specific needs?

Colorado Farm Bureau might be best for you if....

• You have an at-fault accident on your record.
• You're looking for more protection with "full coverage" insurance.
• You are purchasing your auto insurance with a spouse.

Nationwide might be best for you if...

• You already have plans to move to another state -- undefined is only available to residents.
• You want to save extra money with discounts.

We hope this guide helps you get a better idea of the difference between Colorado Farm Bureau and Nationwide and that you can now make a more informed decision when it comes to 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 a handful of carriers, not just Colorado Farm Bureau and Nationwide. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of top auto insurance companies in your area, all in just a few minutes.

Colorado Farm Bureau vs. Nationwide FAQs

Is Colorado Farm Bureau or Nationwide cheaper?

Looking just at the national average rates, Colorado Farm Bureau is the less expensive of the two carriers, offering average rates of $132 a month compared to $170 for Nationwide. Even so, Colorado Farm Bureau won't necessarily be the cheapest company for every policyholder, since there are several different factors (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Colorado Farm Bureau or Nationwide?

Unfortunately, the answer truly is "it depends.". No one carrier is necessarily "better" for everyone -- it all depends on the makeup of your unique insurance profile.

Why do Colorado Farm Bureau and Nationwide offer me different rates?

Car insurance companies take a look at quite a few different variables when calculating the premiums they charge drivers. Things like where you park your vehicle, age, gender, where you live, and sometimes even things like your credit score can all be taken into consideration. Both Colorado Farm Bureau and Nationwide calculate rates using different formulas, so each one will most likely offer different prices. The only real way to see which company is the most affordable for you is by comparing personalized quotes from many different carriers.

How do I know if Colorado Farm Bureau 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 multiple companies and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your information once 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 cheapest rate. And who knows, the best company for you might not be Colorado Farm Bureau 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.