Farmers Automobile vs. Nationwide: Which Company is the Best Fit for You?

Quick Facts

• Based on national averages for auto insurance, Farmers Automobile offers significantly less expensive premiums than Nationwide
• Farmers Automobile has cheaper rates for policyholders who live in the suburbs
• Nationwide offers more discounts than Farmers Automobile Insurance Association

Farmers Automobile vs. Nationwide: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering pretty big discounts, but exactly how much money can you save by switching?

You might have narrowed it down to Farmers Automobile or Nationwide for your next policy, but between the two, which company has more affordable premiums for insurance?

Looking at the national average rates for both companies, Farmers Automobile has average rates that are about 30% per month cheaper than those from Nationwide.

That being said, Farmers Automobile may not be the most affordable or best option for each driver out there. After all, auto insurance carriers can offer drastically different rates to each driver depending on rating factors like your age, where you call home, your driving record, or even your credit score (among other things). So, at the end of the day, prices from every carrier will differ quite a bit from person to person.

So, if you want to find out which of Farmers Automobile or Nationwide is really the best for you, keep reading to see average rates for each company broken down by lots of different rate factors.

Farmers Automobile or Nationwide: Average Car Insurance Rates by State

Farmers Automobile and Nationwide only compete against each other in two states, with Farmers Automobile offering less expensive premiums to the average driver in all of them. Illinois has the most noticable difference, where Farmers Automobile prices are over 40% more affordable than car insurance rates at Nationwide.

But there's more to auto insurance than just the state you live in. As we mentioned above, there's a lot of things that go into how insurance companies calculate your prices. Continue reading to see how other factors will affect your rates.

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- generally pay a lot for car insurance compared to older drivers. That's because young, inexperienced drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

Even so, that doesn't mean that teen drivers have to just accept sky-high auto insurance rates. For example, 18-year-old drivers pay an average of more than $100 less a month by choosing Farmers Automobile over Nationwide.

But both carriers will decrease premiums by the time drivers turn 25. For example, average rates for Farmers Automobile policyholders lower over 60% and Nationwide's prices reduce more than 60% over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age normally enjoy some of the lowest insurance premiums you'll ever find. After all, they've likely been driving for quite some time, which typically reduces their chances of accidents and other infractions that can increase rates.

But who has the best prices for retired drivers between Farmers Automobile and Nationwide? Farmers Automobile gets the edge here, with average premiums coming in at around $96 monthly compared to Nationwide's $125.

Which is the Best Company for Married Drivers?

You may not be aware, but car insurance prices tend to be more expensive for single drivers than they are for married policyholders. That's because policies for married couples usually cover more than one car, which quite a few companies will offer you a discount for.

When it comes to relationship status, Farmers Automobile is the clear winner for single policyholders, with premiums about $57 per month cheaper than Nationwide, on average. The advantage for married drivers with Farmers Automobile is also obvious, where drivers save over 25% a month.

Farmers Automobile vs. Nationwide: Average Rates by Gender

Men are statistically more likely than women to get into collisions and file an insurance claim. That means when it comes to insurance men will typically end up paying a little more.

With Farmers Automobile, men generally pay around 1% more per month than women., while with Nationwide, the difference is closer to 7% a month.

When it comes to the cheapest rates for each gender, Farmers Automobile comes out as the most affordable option for both genders. On average, male drivers save about $53 per month and women save about $42 with Farmers Automobile compared to the average Nationwide policyholder.

Farmers Automobile 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.

It's no secret that car insurance can be pretty complicated. There are several different coverages that account for a range 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.

However, most policies end up falling into two different types of coverage -- liability only (that covers property damage and bodily injury for other drivers and their passengers if you cause a collision) and full coverage (which includes two additional coverages -- comprehensive and collision -- alongside what you get with a liability policy).

If you're looking for state minimum liability limits, Farmers Automobile usually offers significantly less expensive prices of $75 compared to Nationwide's $112. When it comes to full coverage policies with similar limits, Farmers Automobile again has the edge, with policies around $60 a month more affordable than Nationwide, on average.

Is Farmers Automobile or Nationwide Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from auto insurance carriers offering great premiums for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

At-fault accidents and tickets will most likely raise your rates, but is Farmers Automobile or Nationwide less expensive for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

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

That being said, Farmers Automobile has more affordable premiums for drivers in both categories, offering prices that are $38 and $40 cheaper, respectively, compared to Nationwide.

Which Company is Best for Drivers After an Accident?

Farmers Automobile drivers who get in an accident can expect to see their premiums increase by $30, while those who have insurance through Nationwide will see around a $55 increase.

Overall, the less expensive rates come from Farmers Automobile, with monthly premiums averaging $117 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 car insurance bill -- typically a lot more than a collision or speeding ticket. On average, Nationwide will increase your prices about 46% after a DUI, while Farmers Automobile's average rates climb by over 50%.

How does Credit Score Impact Farmers Automobile and Nationwide Rates?

Did you know that many insurance companies take your credit score into account when calculating premiums? This isn't always the case (Hawaii, for example, has banned the use of credit score as a rating factor) but it might come into play for a lot of policyholders.

The reasoning auto insurance carriers use is that drivers with bad credit will be less likely to pay their bills on time; so normally, they'll be asked to pay more, while those with good credit will be rewarded with more affordable prices.

So, which carrier offers the cheapest rates for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

Which Company is Best for Drivers with Bad Credit?

Is Farmers Automobile 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 prices. Generally, those who drive less will end up with cheaper rates since there's less of a chance of getting into an accident and causing an insurance claim.

For both drivers who put 6,000 miles on their vehicles yearly, as well as those who average twice that figure, Farmers Automobile offers less expensive premiums than Nationwide. Nationwide's average rates for drivers with 6,000 annual miles come in just under 35% more expensive than Farmers Automobile. Those who drive 12,000 miles each year can expect to pay more than 20% more with Nationwide over Farmers Automobile.

Farmers Automobile 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 sizable impact as well. Usually, those who live in urban areas will pay more than drivers in rural areas because there are a lot more vehicles on the road in those areas, which increases the chances of an accident.

Farmers Automobile tends to offer the most affordable rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For policyholders in urban ZIP codes, Farmers Automobile offers prices around $192 per month compared to Nationwide's $199. People who live in suburban ZIP codes can expect to pay about $92 per month for Farmers Automobile and $159 for Nationwide. Lastly, those in rural areas tend to get the lowest premiums from both companies, with average monthly prices coming in at $84 and $151 for Farmers Automobile and Nationwide respectively.

Farmers Automobile vs. Nationwide Discounts

Regardless of why you might be in the market for a new insurance policy, you're always going to want to save as much money as possible, and the best way to do that is by taking advantage of as many auto insurance discounts as you can.

But where do you even start? With so many discounts out there, it may seem challenging to find all the of the ones you can take advantage of.

In the section below, we've compared all of the different discounts offered by Farmers Automobile and Nationwide so that you can see which one offers the most discounts and see which ones you might be able to take advantage of.

Nationwide knocks Farmers Automobile out of the park when it comes to the sheer number of discounts available, offering 22 different discounts to Farmers Automobile's 22.

Both carriers offer lots of the same discounts -- like anti-theft discounts, EFT discounts, and discounts for being a good student -- but Nationwide also offers agency transfer discounts, distant student discounts, driver training discounts, and more that Farmers Automobile does not.

On the flip side, Farmers Automobile has a couple unique discounts of its own -- hybrid vehicle discounts, discounts for insuring multiple cars with the same company, paid in full discounts, and more.

Final Thoughts: Is Farmers Automobile or Nationwide Best for You?

So, you've seen how different variables can affect your insurance premiums. We've broken down the different discounts each carrier offers, too. That's all well and good, but at the end of the day, which company is the right fit for you?

Farmers Automobile might be best for you if....

• You don't have any speeding tickets, DUIs, or at-fault collisions on your record.
• Your neighborhood is in a city.
• You're married and plan to have both of your names on the vehicle's auto insurance policy.

Nationwide might be best for you if...

• You value the experience that comes with a large national car insurance carrier.
• You care about discounts (Nationwide offers the most).

We hope this guide helps you get a good idea of the differences between Farmers Automobile and Nationwide. We also hope we've given you the information you need to make the best decision when it comes to your insurance.

But, at the end of the day, there's only one way to know for sure that you're getting the best possible deal on auto insurance -- comparing quotes from several companies, not just Farmers Automobile and Nationwide. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of top car insurance carriers in your area, all in just a few minutes.

Farmers Automobile vs. Nationwide FAQs

Is Farmers Automobile or Nationwide cheaper?

Looking just at the national average rates, Farmers Automobile is the cheaper of the two companies, offering average rates of $123 a month compared to $170 for Nationwide. However, Farmers Automobile won't necessarily be the cheapest company for every policyholder, since there are a variety of different factors that come into play when it comes to your insurance cost.

Who is better, Farmers Automobile or Nationwide?

Sadly, the answer truly is "it depends.". Neither carrier is "better" for everyone -- it all depends on what your unique car insurance profile looks like.

Why do Farmers Automobile and Nationwide offer me different rates?

Auto insurance carriers take a look at lots of different variables when determining the prices they charge drivers. Factors such as gender, your driving record, where you live, age, and sometimes even things like your credit score can all come into play. Both Farmers Automobile and Nationwide use different formulas, so each one will most likely offer different premiums. The only real way to see which company is the lowest for you is by comparing personalized quotes from a bunch of different companies.

How do I know if Farmers Automobile or Nationwide is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from a handful of carriers and finding the one best suited for your individual budget. Luckily, Compare.com does all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best auto insurance companies in your area. With those, you can guarantee you're getting the best price. And who knows, the best company for you might not be Farmers Automobile 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.