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

Quick Facts

• Looking at the national averages for car insurance, Nationwide offers less expensive rates than Iowa Mutual
• Nationwide offers more affordable average prices for drivers who have an at-fault accident on their record
• Nationwide tends to be a much cheaper option for drivers with a DUI charge on their record

Iowa Mutual vs. 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 discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed your search down to Iowa Mutual or Nationwide as your top options, but between the two, which one has less expensive rates for auto insurance?

Looking at the national average rates for both companies, Nationwide is about $41 per month cheaper than Iowa Mutual.

Even so, Nationwide may not be the most affordable or best option for every single driver out there. Car insurance carriers vary their prices depending on things like how old you are, how clean your driving record is, how good your credit score is, where you live, and tons of other factors, so premiums could differ drastically from person to person.

Luckily, we've broken down average prices from both Iowa Mutual and Nationwide by multiple different rate factors, so read on to find out which carrier is the best for you.

Iowa Mutual or Nationwide: Average Car Insurance Rates by State

Iowa Mutual and Nationwide only compete against each other in Nebraska, where Nationwide offers the cheaper average premiums. For Nebraska residents, Nationwide offers insurance for $138 a month on average. Iowa Mutual's average rates come out to be over 50% more expensive, at $211 per month.

That being said, there are plenty of other factors that go into your auto insurance payment than just where you live. Read on to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers normally pay a lot more for car insurance than any other group of drivers. It's generally because young, inexperienced 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 prices, teen drivers can still find ways to save money. As you can see above, teens who use Nationwide save more than $100 a month compared to those who use Iowa Mutual.

However, both companies will offer you dramatically lower premiums by the time drivers turn 25. Nationwide offers the steepest reduction, with 25-year-olds paying less than a third of what 18-year-old drivers are charged. Iowa Mutual's average rates drop nearly 65% during that same period.

Which is the Best Company for Retired Drivers?

Drivers around retirement age usually enjoy some of the cheapest insurance prices you'll ever see. 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 premiums for retired drivers between Iowa Mutual and Nationwide? Nationwide gets the edge, with prices for drivers 65 and older almost 15% more affordable than the national average for Iowa Mutual.

Which is the Best Company for Married Drivers?

Did you know that car insurance rates are usually more expensive for single policyholders than they are for married policyholders? That's normally because married drivers tend to own and insure several cars, which can often earn you a discount.

When it comes to relationship status, Nationwide is the clear winner for those who are single, with premiums around $49 per month less expensive than Iowa Mutual, on average. The advantage for married couples with Nationwide is also obvious, where drivers save nearly 20% a month.

Iowa Mutual vs. Nationwide: Average Rates by Gender

Did you know women tend to pay less for insurance than men? This is because men are more likely to get tickets and get into accidents, which increases the chances of an insurance claim.

Generally, men see prices almost 15% per month higher with Iowa Mutual, and about 7% more with Nationwide.

Looking at overall affordability, Nationwide comes out as the lowest option for both genders, with average premiums $52 less for men and $31 cheaper for women.

Iowa Mutual 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 isn't the easiest topic to understand. Everyone needs insurance, but there are so many different terms and limits that it can be hard to find the right policy.

The two most common policies end up falling into two different types of coverage -- liability only (which provides bodily injury and property damage coverage for other drivers and their passengers if you cause an accident) and full coverage (which generally refers to having comprehensive and collision coverages in addition to what you get with a liability policy).

In this case, Iowa Mutual offers the most affordable average rates for state minimum liability insurance, while Nationwide has the edge for full coverage policies with similar coverage limits. Drivers looking for basic state minimum coverage can save around $20 with Iowa Mutual, while full coverage comes out to be around $100 cheaper with Nationwide.

Is Iowa Mutual 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.

At-fault collisions and tickets will most likely raise your premiums, but is Iowa Mutual or Nationwide more affordable for drivers with less-than-perfect records?

Which Company is Best for Drivers with Speeding Tickets?

Iowa Mutual policyholders can expect their prices to go up an average of $11 a month if they get a ticket, while Nationwide typically raises rates about $24 per month, on average.

But Nationwide has less expensive prices for drivers in both categories. Drivers with a clean record can save around $39 a month and drivers with a speeding ticket can save about $26 per month with Nationwide.

Which Company is Best for Drivers After an Accident?

Iowa Mutual policyholders who get in a collision can expect to see their premiums rise by just under 15%, while those who have insurance through Nationwide will see around a 30% increase.

Overall, Nationwide offers the lowest rates for drivers with an at-fault collision on their records, with monthly prices averaging $178 compared to Iowa Mutual's $191.

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 ticket or even an accident. On average, Iowa Mutual will climb your premiums about 48% after a DUI, while Nationwide's average rates increase by over 45%.

How does Credit Score Impact Iowa Mutual and Nationwide Rates?

Did you know that many car insurance carriers take your credit score into account when calculating premiums? This isn't always the case (for example, Michigan and Massachusetts are two states that ban the practice entirely), but it does affect lots of drivers out there.

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

Looking at Iowa Mutual and Nationwide specifically, which carrier has the best 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 Iowa Mutual 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 premiums. That's because the more miles you drive, the more likely you are to get into a collision and cause an insurance claim.

As you can see in the table above, annual mileage doesn't have much of an impact on how much Iowa Mutual charges. However, there's a small difference in monthly rates 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 annually. Still, Nationwide is the more affordable option for drivers in both categories.

Iowa Mutual 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 auto insurance, but the type of area you live in can have a big impact as well. Generally, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers because there are a lot more vehicles on the roads in those areas.

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

Policyholders in rural ZIP codes see the most affordable prices from both carriers, but Nationwide comes out on top with average premiums about $151 monthly. Nationwide also has cheaper average prices for drivers in urban and suburban ZIP codes -- a 20% and 20% a month respective difference when compared to Iowa Mutual policyholders in similar areas.

Iowa Mutual vs. Nationwide Discounts

Regardless of 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 possible, and the best way to do that is by utilizing as many insurance discounts as you can.

The difficult part is finding all of the discounts you're eligible for, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

In the section below, we've taken a look at all of the different discounts Iowa Mutual and Nationwide offer their customers so that you can see which company offers the most discounts and see which ones you might be able to take advantage of.

Nationwide knocks Iowa Mutual out of the park when it comes to the sheer number of discounts available, offering 10 more discounts than Iowa Mutual.

A couple of those are overlapping for things like anti-theft discounts, discounts for being a defensive driver, and discounts for being a good student. Nationwide also offers advance quote discounts, agency transfer discounts, distant student discounts, and more that Iowa Mutual does not.

On the flip side, Iowa Mutual has a couple unique discounts of its own -- ABS discounts, claim free discounts, hybrid vehicle discounts, and more.

Final Thoughts: Is Iowa Mutual or Nationwide Best for You?

You've seen the effect certain factors have on your car insurance and the different discounts companies offer. But, at the end of the day, which insurance company is the best one for you and your specific driver profile?

Nationwide might be best for you if....

• You already have plans to move to another state -- undefined only offers policies to residents.
• You're looking for more protection with "full coverage" auto insurance.
• You are over 65 years old and want to save some money on your insurance.

Iowa Mutual might be best for you if...

• You want basic car insurance coverage at the state minimum limits.

We hope this guide has ben a valuable resource as you compare Iowa Mutual and Nationwide. We also hope we've given you the information you need to make the best decision when it comes to your auto 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 insurance -- comparing quotes from a handful of carriers, not just Iowa Mutual and Nationwide. Luckily, Compare.com makes it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of the top auto insurance companies in your area, all in just a few minutes.

Iowa Mutual vs. Nationwide FAQs

Is Iowa Mutual or Nationwide cheaper?

Looking just at the national average premiums, Nationwide is the more affordable of the two carriers, offering average rates of $170 per month compared to $211 for Iowa Mutual. That being said, Nationwide won't necessarily be the cheapest carrier for each policyholder, since there are a bunch of different variables (things like age, gender, driving record, etc.) that play a role in how much you pay.

Who is better, Iowa Mutual or Nationwide?

Sadly, the real answer is "it depends.". No one company is necessarily "better" for every driver -- it all boils down to your unique car insurance profile.

Why do Iowa Mutual and Nationwide offer me different rates?

Auto insurance companies take a look at quite a few different factors when determining the rates they charge drivers. Things like your driving record, gender, where you live, age, and sometimes even things like your credit score can all be used. Both Iowa Mutual and Nationwide calculate prices using different formulas, so each one will most likely offer different premiums. The only real way to see which carrier is the most affordable for you is by comparing personalized quotes from lots of different carriers.

How do I know if Iowa Mutual or Nationwide is right for me?

The only way to find the insurance company 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 do all the hard work for you. Just enter your area information and you'll get free quotes from dozens of the best car insurance carriers in your area. That way, you can guarantee you're getting the best premium. And who knows, the best carrier for you might not be Iowa Mutual 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.