Farmers Mutual of Tennessee vs. Nationwide: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for auto insurance, Farmers Mutual of Tennessee offers significantly more affordable rates than Nationwide
• Farmers Mutual of Tennessee has cheaper prices for drivers with a DUI charge on their record
• Nationwide offers more discounts than Farmers Mutual of Tennessee

Farmers Mutual of Tennessee 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 big discounts. But exactly how much can you save by switching?

You've maybe even narrowed it down to Farmers Mutual of Tennessee or Nationwide as potential options, but between the two, which one has less expensive rates for car insurance?

Looking at the national average rates for both companies, Nationwide has average rates that are about 40% per month more expensive than those from Farmers Mutual of Tennessee.

However, that doesn't mean Farmers Mutual of Tennessee will necessarily be more affordable than Nationwide for each driver. After all, insurance carriers can offer drastically different rates to each driver depending on rating factors like your credit score, your driving record, your age, or even where you call home (among other things), so prices will vary quite a bit from person to person.

Luckily, we've broken down average premiums from both Farmers Mutual of Tennessee and Nationwide by a bunch of different rate factors, so read on to find out which company is the best for you.

Farmers Mutual of Tennessee or Nationwide: Average Car Insurance Rates by State

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But there's more to calculating insurance premiums than just the state you live in. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers usually pay a lot more for auto insurance than any group out there on the road. It's generally because young, inexperienced drivers are statistically much more likely to get into accidents since they have less experience on the roads.

But that doesn't mean that teen drivers have to just accept sky-high car insurance prices. For example, 18-year-old drivers pay an average of more than $150 less a month by choosing Farmers Mutual of Tennessee over Nationwide.

That being said, both companies will drop rates by the time drivers turn 25. Nationwide offers the steepest decrease, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. That being said, Farmers Mutual of Tennessee still has the most affordable premiums at $96 a month.

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 cheapest prices you'll ever see.

But who has the best rates for retired drivers between Farmers Mutual of Tennessee and Nationwide? Farmers Mutual of Tennessee gets the edge, with premiums for drivers 65 and older $58 less expensive than the national average for Nationwide.

Which is the Best Company for Married Drivers?

Did you know that insurance rates are typically cheaper for married drivers than they are for those who are single? That's because policies for married policyholders normally cover multiple cars, which many carriers will offer you a discount for.

When it comes to relationship status, Farmers Mutual of Tennessee is the clear winner for single policyholders, with prices around $83 per month more affordable than Nationwide, on average. For married couples, the advantage is clear again - Farmers Mutual of Tennessee has the edge when it comes to average premiums.

Farmers Mutual of Tennessee vs. Nationwide: Average Rates by Gender

You may not know, but car insurance is generally more expensive for men than for women. This is because women are less likely to get into collisions and get tickets, which lowers the chances of an insurance claim.

On average, women see prices over 15% a month less with Farmers Mutual of Tennessee, and about 7% less with Nationwide.

Looking at overall affordability, Farmers Mutual of Tennessee comes out on top for both men and women, with average premiums 39% less for men and 45% cheaper for women.

Farmers Mutual of Tennessee 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.

Auto insurance can be a complicated subject for most people. Everyone needs insurance, but there are so many different terms and coverages that it can be hard to find the right policy.

Even so, most policies that many drivers look at fall into two categories -- liability only (that covers property damage and bodily injury for other drivers and passengers if you cause an accident) and full coverage (which usually refers to having comprehensive and collision coverages in addition to what you get with a liability policy).

If you're looking for state minimum limits for liability insurance, Farmers Mutual of Tennessee normally offers significantly cheaper rates of $44 compared to Nationwide's $112. When it comes to full coverage policies with similar limits, Farmers Mutual of Tennessee again has the edge, with policies around $75 per month less expensive than Nationwide, on average.

Is Farmers Mutual of Tennessee or Nationwide Better for Drivers with Spotty Records?

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

At-fault accidents and tickets will most likely raise your premiums, but is Farmers Mutual of Tennessee or Nationwide cheaper for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers with Farmers Mutual of Tennessee auto insurance policies don't report seeing their prices increase after getting a ticket, but Nationwide policyholders can expect to see their monthly bill increase by about 15%.

But Farmers Mutual of Tennessee is typically the less expensive option for drivers both with a ticket and with a clean record. Drivers with a clean record can save around $39 a month with Farmers Mutual of Tennessee, and the same can be said for those with a speeding ticket, too.

Which Company is Best for Drivers After an Accident?

After an accident, drivers who have their car insurance through Farmers Mutual of Tennessee can expect to see about an $3 -- or around 3% -- increase in their insurance rates. Drivers who use Nationwide for their auto insurance will see a monthly bill about $53 (or 30%) more expensive after reporting a collision to their insurance carrier.

Overall, Farmers Mutual of Tennessee offers the lowest premiums for drivers with an at-fault accident on their records, with monthly prices averaging $89 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 collision or ticket when it comes to your car insurance bill. On average, Nationwide will climb your rates around 46% after a DUI, while Farmers Mutual of Tennessee's average premiums increase by over 35%.

How does Credit Score Impact Farmers Mutual of Tennessee and Nationwide Rates?

You may not have known, but your credit score can be used as one of the factors to calculate your monthly auto insurance rates. This isn't always the case (for example, Hawaii and California are two states that ban the practice entirely), but it might come into play for quite a few policyholders.

The reasoning car insurance companies use is that drivers with good credit will be more likely to pay their bills on time; so they'll reward them with cheaper prices, while those with poor credit will normally be forced to pay more.

Looking specifically at Farmers Mutual of Tennessee and Nationwide, which company has the cheapest premiums 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 Farmers Mutual of Tennessee or Nationwide Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a substantial impact on how much insurance carriers will charge for coverage. Typically, those who drive fewer miles will end up with more affordable prices 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 Farmers Mutual of Tennessee charges. However, there's a small difference in monthly rates for Nationwide, with drivers who put 6,000 miles on their vehicle annually paying about $1 less every month compared to those who drive 12,000 miles yearly. Still, Farmers Mutual of Tennessee is the cheaper option for drivers in both categories.

Farmers Mutual of Tennessee vs. Nationwide: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can have a considerable impact on your monthly car insurance bill. Usually, if you live in an urban area with more cars on the road, you'll pay a little more for insurance, while the opposite is true for people in rural areas.

Farmers Mutual of Tennessee boasts the cheapest average rates for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Farmers Mutual of Tennessee offers prices around $114 per month compared to Nationwide's $199. People who live in suburban ZIP codes can expect to pay about $95 per month for Farmers Mutual of Tennessee and $159 for Nationwide. Lastly, those in rural areas tend to get the most affordable rates from both companies, with average monthly prices coming in at $89 and $151 for Farmers Mutual of Tennessee and Nationwide respectively.

Farmers Mutual of Tennessee vs. Nationwide Discounts

Regardless of why you might be in the market for a new auto 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 car insurance discounts as you can.

But where do you even start? With what seems like a million different discounts out there, it may be hard to find all the ones you qualify for.

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

Nationwide blows Farmers Mutual of Tennessee away when it comes to the sheer amount of discounts available, offering 17 more discounts than Farmers Mutual of Tennessee.

Both carriers offer many of the same discounts -- like discounts for being a defensive driver, discounts for being a good driver, and multi-policy discounts -- but Nationwide also offers advance quote discounts, agency transfer discounts, anti-theft discounts, and more that Farmers Mutual of Tennessee does not.

On the flip side, Farmers Mutual of Tennessee has a couple unique discounts of its own -- forgiveness discounts and discounts for insuring multiple cars with the same company.

Final Thoughts: Is Farmers Mutual of Tennessee or Nationwide Best for You?

So, we've broken down the average premiums for many of the variables insurance companies look at, and we've shown you all the discounts each carrier offers. That's all well and good, but at the end of the day, which company is the right fit for you?

Farmers Mutual of Tennessee might be best for you if....

• You have below-average credit.
• You are over 65 years old and want to save some money on your auto insurance.

Nationwide might be best for you if...

• You value the experience that comes with a large national insurance carrier.
• You want to save extra money with discounts.

We hope this guide helps you get a better idea of the difference between Farmers Mutual of Tennessee 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 auto insurance policy is to compare quotes from a handful of carriers, not just Farmers Mutual of Tennessee 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 insurance companies in your area, all in just a few minutes.

Farmers Mutual of Tennessee vs. Nationwide FAQs

Is Farmers Mutual of Tennessee or Nationwide cheaper?

Looking just at the national average rates, Farmers Mutual of Tennessee is the less expensive of the two carriers, offering average rates of $100 a month compared to $170 for Nationwide. Even so, Farmers Mutual of Tennessee won't necessarily be the lowest company for each driver, since there are lots of different factors (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Farmers Mutual of Tennessee or Nationwide?

Unfortunately, the only answer we can give you is "it depends.". One carrier is not "better" for every driver -- it all depends on the makeup of your unique car insurance profile.

Why do Farmers Mutual of Tennessee and Nationwide offer me different rates?

Auto insurance companies take a look at a lot of different variables when calculating the prices they charge policyholders. Things like your driving record, where you park your car, age, gender, and sometimes even things like your credit score can all be used. Both Farmers Mutual of Tennessee and Nationwide calculate premiums using different formulas, so each one will most likely offer different prices. The only real way to see which company is the cheapest for you is by comparing personalized quotes from a range of different carriers.

How do I know if Farmers Mutual of Tennessee or Nationwide is right for me?

The only way to find the car 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, sites like Compare.com make it easy for you to do just that. Just enter your information once and you'll get free quotes from dozens of the best insurance carriers in your area. With those, you can guarantee you're getting the most affordable premium. And who knows, the best company for you might not be Farmers Mutual of Tennessee 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.