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

Quick Facts

• Based on national averages for insurance, Nationwide offers more affordable rates than Farmers Union
• Farmers Union offers more affordable prices for drivers with a DUI
• Nationwide has cheaper premiums for single people who will be the only person on the auto insurance policy

Farmers Union or Nationwide: Which Company has the Cheapest Car Insurance?

Are you in the market for a new insurance policy? With so many ads from all sorts of companies offering huge savings, you're probably wondering exactly how much you might be able to save.

You might be considering Farmers Union or Nationwide, but which company will offer you less expensive prices?

Looking at nationwide averages, Nationwide has average rates that are around 10% a month more affordable than those from Farmers Union.

That being said, Nationwide may not be the most affordable or best option for each driver out there. After all, car insurance carriers can offer drastically different rates to every driver depending on rating factors like your age, your driving record, your credit score, or even where you call home (among other things), so rates could change drastically from person to person.

Wanting to know if Farmers Union or Nationwide is really the right carrier for you? Keep on reading to see how average premiums can change based on all of the factors we've mentioned above.

Farmers Union vs. Nationwide: Average Car Insurance Rates by State

Farmers Union and Nationwide compete against each other in four states, with Farmers Union offering less expensive prices to the average driver in all of them. Minnesota has the most noticable difference, where Nationwide rates are $99 cheaper than insurance prices at Farmers Union.

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

Which is the Best Company For Young Drivers?

Young drivers -- especially teens -- normally pay a lot for insurance compared to older drivers. The reason is that teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high rates, teen drivers can still find ways to save money. For example, 18-year-old drivers pay an average of 2% less per month by choosing Farmers Union over Nationwide.

Even so, both companies will reduce premiums by the time you turn 25. For example, average rates for Farmers Union policyholders decrease almost 55% and Nationwide's prices lower over 60% over that time.

Which is the Best Company for Retired Drivers?

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

But who has the best prices for retired drivers between Farmers Union and Nationwide? Nationwide gets the edge, with premiums for drivers 65 and older $23 more affordable than the national average for Farmers Union.

Which is the Best Company for Married Drivers?

Did you know that auto insurance prices are typically more expensive for single drivers than they are for married couples? That's because policies for married policyholders generally cover multiple vehicles, which lots of carriers will give you a discount for.

For single policyholders, the difference in average premiums between these two companies is not very significant, with Nationwide rates coming in at about 7% less than Farmers Union's. But for married drivers, the advantage is clear - Nationwide offers the most affordable average prices.

Farmers Union or Nationwide: Average Rates by Gender

Men are statistically more likely than women to get into collisions and get tickets, which means they'll usually end up paying more for insurance than women.

Men normally pay around $10 a month more than women with Farmers Union, but with Nationwide, the difference is closer to $12 per month.

Looking at overall affordability, Nationwide comes out on top for both men and women, with average rates 10% less for men and 11% cheaper for women.

Farmers Union vs. 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 can be a complicated subject for most people. There are so many different limits and terms that it can make it pretty confusing to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which includes two additional coverages -- collision and comprehensive -- alongside liability coverage).

When it comes to state minimum limits for liability insurance, Farmers Union has the edge, while Nationwide offers the lowest average premiums for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $5 with Farmers Union Insurance, while full coverage comes out to be about $40 less expensive with Nationwide.

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

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

You'll probably end up paying more with collisions and speeding tickets on your record, but which of these two companies offers the cheapest premiums to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use Farmers Union for their auto insurance can usually expect their monthly bill to go up around 27% after getting a speeding ticket. Nationwide policyholders can expect a less drastic increase of about 16%.

However, Nationwide is generally the cheaper option for drivers both with clean records and with a ticket, offering prices that are 9% and 21% less expensive, respectively, compared to Farmers Union Insurance.

Which Company is Best for Drivers After an Accident?

Both carriers will raise premiums pretty significantly if you get into an at-fault collision with Farmers Union raising by around 33%. Nationwide has a less extreme raise, but you can still expect to pay nearly 30% more than you were prior to your first accident.

At the end of the day, drivers who use Nationwide end up with the cheaper prices after an accident, with average rates coming in at $178 compared to Farmers Union Insurance's $207.

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 speeding ticket when it comes to your car insurance bill. On average, Nationwide will increase your prices about 46% after a DUI, while Farmers Union's average premiums climb by just under 40%.

How does Credit Score Impact Farmers Union and Nationwide Rates?

In many cases, your credit score can be used as one of the variables to determine your monthly auto insurance rates. This isn't true for everyone (for example, Massachusetts and Michigan are two states that ban the practice entirely), but it might come into play for a lot of policyholders.

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.

So, which company offers the best prices 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 Union or Nationwide Better for Drivers who Work from Home or Have Short Commutes?

Did you know that the amount of time you spend in your car have a substantial impact on how much insurance carriers will charge for coverage? That's because the more milage you put on your car each year, the more likely you are to be in an accident and file an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Farmers Union charges. However, there's a small difference in monthly premiums for Nationwide, with policyholders who drive 6,000 miles each year paying around $1 less every month compared to those who drive 12,000 miles yearly. Still, for drivers in both categories, Nationwide is the more affordable carrier.

Farmers Union or Nationwide: Compare Rates for Urban, Suburban, and Rural Drivers

Where you live can play a large role in how much you pay for car insurance. Typically, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders since there are a lot more vehicles on the road where they live, which increases the chances of an accident.

Nationwide boasts the cheapest average rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

Those in rural areas can expect to save about $19 with Nationwide compared to Farmers Union. People who live in suburban areas pay around $13 less with Nationwide compared to Farmers Union. For drivers in urban ZIP codes, Nationwide's average premiums are about $27 less than Farmers Union Insurance.

Farmers Union vs. Nationwide Discounts

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

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

Luckily, we did the hard work for you and compared all of the different discounts offered by Farmers Union and Nationwide so that you can easily see which company offers the most discounts and, therefore, the largest savings.

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

Both companies offer many of the same discounts -- like distant student discounts, discounts for being a good student, and group discounts -- but Nationwide also offers discounts for advance quote, agency transfer, anti-theft, and more.

On the other hand, Farmers Union has a few proprietary discounts of their own for things like farm discounts, minor child discounts, multi-car discounts, and more.

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

You've seen the effect certain factors have on your auto insurance and the different discounts carriers offer. That's all well and good, but when it comes down to it, is Farmers Union or Nationwide the best one for you, your vehicle, and your wallet?

Nationwide might be best for you if....

• You have a clean driving record, free of accidents, tickets, or DUIs.
• You're looking for the company with the most discounts.
• You drive fewer than 6,000 miles annually.

Farmers Union might be best for you if...

• Your driving record includes a DUI charge.
• You're looking for the best prices on liability only coverage.
• You want to save money while purchasing insurance for a teenager.

Hopefully, this guide has ben a valuable resource as you compare Farmers Union and Nationwide. We also hope we've given you the information you need to make the best decision about your auto insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple companies, not just Farmers Union and Nationwide. Luckily, sites like Compare.com make it easy for you to do just that. Simply enter your ZIP codes below and get multiple quotes from some of the best insurance carriers in your area, all for free.

Farmers Union vs. Nationwide FAQs

Is Farmers Union or Nationwide cheaper?

Nationwide is the cheaper of the two companies when looking at national average rates, with policies averaging $170 a month with Nationwide and $189 for Farmers Union. But that doesn't mean Nationwide will be the most affordable carrier for each driver, since there are multiple different variables that are considered when it comes to your car insurance cost.

Who is better, Farmers Union or Nationwide?

Sadly, the only answer we can give you is "it depends.". No single company is "better" for everyone -- it all boils down to your unique auto insurance profile. For example, Nationwide is more affordable for drivers with excellent credit, while Farmers Union offers cheaper prices for drivers with a recent DUI.

Why do Farmers Union and Nationwide offer me different rates?

Car insurance carriers use several different factors when determining the premiums they charge. Things such as where your home is, where you park your car, gender, age, and sometimes even things like your credit score can all be used. Both Farmers Union and Nationwide use different formulas, so it's likely they'll offer different rates. The best way to determine which carrier is the cheapest for you is by comparing personalized quotes from many different companies.

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

The only way to find the auto insurance company 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, sites like Compare.com do all the hard work for you. Just enter your ZIP code and you'll get quotes from dozens of your local top insurance companies for free. That way, you can guarantee you're getting the best price. And maybe you'll find that the best carrier for you isn't Farmers Union or Nationwide at all, but another you hadn't even thought of!

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.