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

Quick Facts

• In general, Imt offers significantly cheaper premiums than Nationwide
• Imt offers more affordable rates for policyholders whose driving record contains an at-fault collision
• Nationwide may help you save more money -- they offer more discounts than IMT Insurance

Imt or 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 savings. But exactly how much can you save by switching?

You've maybe even narrowed it down to Imt or Nationwide as your top options, but which company has less expensive prices for insurance?

Looking at the national average rates for both carriers, Imt has average rates that are around 35% a month more affordable than those from Nationwide.

Even so, Imt may not be the lowest or best option for every driver out there. Auto insurance companies use tons of complex algorithms to determine rates, so depending on how good your credit score is or where you live (among lots of other factors), you could see wildly different premiums from the ones above.

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

Imt vs. Nationwide: Average Car Insurance Rates by State

Imt and Nationwide only compete against each other in two states, with Nationwide offering cheaper prices to the average driver in all of them. Wisconsin has the most noticable difference, where Imt premiums are $25 more affordable than car insurance rates at Nationwide.

But there's more to auto insurance than just where you call home. As we mentioned above, there's a lot of things that go into how insurance carriers calculate your premiums. Read on to find out more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for auto insurance than any other group of drivers out there on the road. Generally, that's because teen drivers are statistically much more likely to cause collisions and other accidents that will result in an insurance claim.

That being said, that doesn't mean teen drivers can't still save money on their insurance. As you can see above, teens who use Imt save almost 45% per month compared to those who use Nationwide.

But with both companies, you'll see your prices lower significantly once you turn 25. For example, average premiums for Imt policyholders drop about $95 and Nationwide's rates reduce nearly $250 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 prices out there.

When looking at Imt and Nationwide specifically, which carrier is best for retired drivers? Imt gets the edge here, with average premiums coming in at around $82 per month compared to Nationwide's $125.

Which is the Best Company for Married Drivers?

Single policyholders tend to get offered slightly more expensive insurance rates than married policyholders. This usually boils down to married drivers having more than one vehicle on their policy -- something quite a few car insurance carriers will reward with discounts.

For those who are single, the difference in average prices between these two companies is significant, with Imt rates coming in at a third less than Nationwide's. The advantage for married couples with Imt is also obvious, where drivers save about $40 a month.

Imt or Nationwide: Average Rates by Gender

Because women are less likely to get tickets and get into accidents, they run a lower risk of filing a claim with insurance. So, women tend to pay less for auto insurance than men.

On average, men see prices around $10 per month higher with Imt, and about $12 more with Nationwide.

When it comes to the most affordable premiums for each gender, Imt comes out as the cheapest option for both genders, with average rates $61 less for men and $61 cheaper for women.

Imt 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.

For most people, insurance can be pretty complicated. There are a variety of different coverages that account for multiple different things. Some protect you and your car, while others only provide coverage for other people's property and health if you cause a collision.

However, the most common policies that drivers look at fall into two categories -- liability coverage (that covers bodily injury and property damage for other drivers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to liability).

Looking specifically at state minimum liability limits, Imt has the significant edge, with average monthly premiums coming in at $58. If you want a full coverage policy with the same state minimum limits, Imt again has the edge, with policies averaging around $160 a month to Nationwide's $229.

Is Imt or Nationwide Better for Drivers with Spotty Records?

It's no secret -- drivers with good records end up getting the best deals on their auto insurance. But that's not to say you can't save money if you don't have the best driving record, either.

It's no secret secret that at-fault collisions and speeding tickets lead to higher prices, but which company -- Imt or Nationwide -- has the most affordable premiums for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Imt for their car insurance can usually expect their monthly bill to go up about 15% after getting a speeding ticket. Nationwide policyholders can expect a bit more drastic of an increase of around 16%.

Even so, Imt has less expensive prices for drivers in both categories. With IMT Insurance, drivers with a clean record can save about $49 per month and drivers with a ticket can save around $60 a month.

Which Company is Best for Drivers After an Accident?

Imt drivers who get in a collision can expect to see their rates increase by just under $60, while those who have insurance through Nationwide will see about a $55 increase.

At the end of the day, the more affordable prices come from Imt, with average rates coming in at $134 compared to Nationwide's $178.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge on your record, it's probably going to cost you more than a simple speeding ticket or even an accident. Nationwide drivers usually see a 46% increase in their insurance premiums after a DUI charge, while Imt will typically climb prices by around 44%.

How does Credit Score Impact Imt and Nationwide Rates?

Did you know many car insurance carriers take into account your credit score when determining premiums? This isn't true for everyone (Michigan, for example, has banned the use of credit score as an auto insurance factor) but it might come into play for several policyholders.

Auto 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 Imt and Nationwide specifically, which one has the lowest rates 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 Imt 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 sizable impact on how much car insurance carriers will charge for coverage? Generally, the more milage you put on your vehicle, 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 Imt charges. However, there's a small difference in monthly prices for Nationwide, with drivers who put 6,000 miles on their car yearly paying about $1 less every month compared to those who drive 12,000 miles annually. Still, for drivers in both categories, Imt is the cheaper carrier.

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

Where you park your vehicle can have a big impact on your monthly auto insurance bill. Normally, drivers who live in less densely populated rural areas will pay quite a bit less than urban policyholders since there are a lot fewer cars on the road where they live, which lowers the chances of an accident.

Imt tends to offer the lowest rates for drivers in all areas, regardless of if they're urban, suburban, or rural.

For drivers in urban ZIP codes, IMT Insurance's average prices are around $63 less than Nationwide. People who live in suburban areas pay about $59 less with Imt compared to Nationwide. Those in rural areas can expect to save around $61 with Imt compared to Nationwide.

Imt vs. Nationwide Discounts

No matter why you might be in the market for a new car insurance policy, you're always going to want to save as much money as you can, and the best way to do that is by utilizing as many auto insurance discounts as possible.

But with what seems like a million different discounts out there, it can be difficult 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.

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

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

There are a couple discounts both companies offer, but Nationwide also offers discounts for advance quote, agency transfer, anti-theft, and more.

On the other hand, Imt has a few proprietary discounts of their own for things like commercial product discounts, minor child discounts, and paid in full discounts.

Final Thoughts: Is Imt or Nationwide Best for You?

You've seen the effect certain variables have on your insurance and the different discounts carriers offer. But, at the end of the day, which company is the right carrier for you and your specific profile and needs?

Imt might be best for you if....

• You haven't received any speeding tickets or been in a collision in the last few years.
• You want the most robust protection via a "full coverage" policy.
• You and your spouse are buying auto insurance together.

Nationwide might be best for you if...

• You value the experience that comes with a large national car insurance carrier.
• You're looking for discounts -- Nationwide has the most.

Hopefully, this guide helps you get a better idea of the difference between Imt and Nationwide and that you can now make a more informed decision when it comes to your insurance.

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

Imt vs. Nationwide FAQs

Is Imt or Nationwide cheaper?

Imt is the less expensive of the two companies when looking at national average premiums, with policies averaging $109 per month with Imt and $170 for Nationwide. That being said, that doesn't mean Imt will be the most affordable company for each driver, since there are a bunch of different factors that come into play when it comes to your insurance cost.

Who is better, Imt or Nationwide?

Unfortunately, the real answer is "it depends.". No one carrier is "better" for every policyholder -- it all depends on what your unique car insurance profile looks like.

Why do Imt and Nationwide offer me different rates?

Insurance carriers use a lot of different variables when calculating the rates they charge. Factors like gender, age, where you call home, your driving record, and sometimes even things like your credit score can all be taken into consideration. Both Imt and Nationwide use different formulas, so it's likely they'll offer different premiums. The best way to determine which company is the lowest for you is by comparing personalized quotes from many different companies.

How do I know if Imt 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 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 quotes from dozens of your local top car insurance companies for free. With those, you can guarantee you're getting the best price. And maybe you'll find that the best company for you isn't Imt 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.