Nationwide vs. North Carolina Farm Bureau: Which Company is the Best Fit for You?

Quick Facts

• Looking at the national averages for auto insurance, North Carolina Farm Bureau offers significantly cheaper rates than Nationwide
• Nationwide offers less expensive average premiums for drivers with a DUI charge on their record
• North Carolina Farm Bureau has more affordable rates for drivers who have an at-fault accident on their record

Nationwide vs. North Carolina Farm Bureau: Which Company has the Cheapest Car Insurance?

So, you're considering switching your auto insurance. You've probably seen commercials and billboards from companies offering hefty discounts, but exactly how much money can you save by switching?

You've maybe even narrowed it down to Nationwide or North Carolina Farm Bureau, but which carrier has less expensive premiums for car insurance?

Looking at the national average rates for both companies, Nationwide is about $40 more per month than North Carolina Farm Bureau.

However, that doesn't necessarily mean North Carolina Farm Bureau will be the more affordable option for each driver. After all, insurance carriers can offer drastically different rates to each driver depending on rating factors like where you call home, your driving record, your age, or even your credit score (among other things), so prices could change drastically from person to person.

Luckily, we've broken down average premiums from both Nationwide and North Carolina Farm Bureau by lots of different rate factors, so read on to find out which carrier is the best for you.

Nationwide or North Carolina Farm Bureau: Average Car Insurance Rates by State

Nationwide and North Carolina Farm Bureau only compete against each other in North Carolina, where Nationwide offers the cheaper average rates. For North Carolina residents, Nationwide offers auto insurance for $117 monthly on average. North Carolina Farm Bureau's average prices come out to be over 10% more expensive, at $130 per month.

But there's more to car 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 rates. Continue reading to learn more about how other factors will affect your rates.

Which is the Best Company For Young Drivers?

You might already know that teen drivers typically 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.

That being said, that doesn't mean that teen drivers have to just accept sky-high insurance prices. For example, 18-year-old drivers pay an average of nearly $200 less a month by choosing North Carolina Farm Bureau over Nationwide. It's worth noting that Nationwide offers auto insurance in 34 different states compared to North Carolina Farm Bureau's one, which can skew the average premiums a bit, but the difference here is still considerable.

But with both carriers, you'll see your rates decrease significantly by the time you turn 25. For example, average prices for Nationwide policyholders drop more than 60% and North Carolina Farm Bureau's premiums lower almost 35% over that time.

Which is the Best Company for Retired Drivers?

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

So, which company offers the best premiums to retired drivers? North Carolina Farm Bureau gets the slight edge here, with average prices coming in at around $120 a month compared to Nationwide's $125. Even so, that difference is less than 5%, which means it ultimately will come down to other variables, such as your credit score or where you live.

Which is the Best Company for Married Drivers?

Did you know that auto insurance premiums are generally cheaper for married policyholders than they are for those who are single? This usually boils down to married drivers having more than one car on their policy -- something several insurance companies will reward with discounts.

When it comes to relationship status, North Carolina Farm Bureau is the clear winner for single policyholders, with rates about $64 per month more affordable than Nationwide, on average. But for married couples, that advantage is much less clear - North Carolina Farm Bureau has the edge when it comes to average premiums , but the difference is less than $10.

Nationwide vs. North Carolina Farm Bureau: Average Rates by Gender

Because men are more likely to get into accidents and get tickets, they are more likely to file a claim with insurance. Therefore, men tend to pay more for car insurance than women.

Men usually pay over $10 a month more than women with Nationwide; women and men get the same monthly prices with North Carolina Farm Bureau.

Looking at the data for each carrier specifically, North Carolina Farm Bureau offers the most affordable average rates for both men and women. On average, women save about $34 per month and men save around $46 with North Carolina Farm Bureau compared to the average Nationwide policyholder.

Nationwide or North Carolina Farm Bureau: 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 auto insurance can be pretty complicated. There are so many different terms and coverages that it can make it pretty confusing to find the right policy.

But the most common policies that many drivers look at fall into two categories -- liability only (which covers the other party's property damage and injuries if you cause an accident) and full coverage (which typically refers to having comprehensive and collision coverages alongside what you get with a liability policy).

If you're looking for state minimum limits for liability insurance, North Carolina Farm Bureau normally offers significantly less expensive premiums of $78 compared to Nationwide's $112. When it comes to full coverage policies with similar limits, North Carolina Farm Bureau again has the edge, with policies about $45 a month cheaper than Nationwide, on average.

Is Nationwide or North Carolina Farm Bureau 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.

You'll probably end up paying more with at-fault collisions and tickets on your record, but which of these two carriers offers the cheapest rates to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Nationwide policyholders can expect their prices to go up an average of $24 per month if they get a ticket, while North Carolina Farm Bureau usually raises premiums around $29 a month, on average.

That being said, North Carolina Farm Bureau has more affordable prices for drivers in both categories, offering rates that are 43% and 33% cheaper, respectively, compared to Nationwide.

Which Company is Best for Drivers After an Accident?

Nationwide drivers who get in a collision can expect to see their premiums rise by just under $55, while those who have insurance through North Carolina Farm Bureau will see about a $30 increase.

Overall, North Carolina Farm Bureau offers the lowest prices for drivers with an at-fault collision on their records, with monthly rates averaging $100 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. For example, North Carolina Farm Bureau increases average prices by just under $200 per month -- that's over a 70% increase.

Nationwide has the overall most affordable rates for drivers with a DUI on their records at $230 per month, but it's worth noting that Nationwide's average rates come from 34 states compared to just one for North Carolina Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact Nationwide and North Carolina Farm Bureau Rates?

Often times, your credit score can come into play when companies determine your monthly bill. This isn't always the case (for example, Hawaii and Massachusetts are two states that ban the practice entirely), but it might come into play for quite a few policyholders.

Insurance carriers 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 specifically at North Carolina Farm Bureau and Nationwide, which company has the best premiums for policyholders at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have solid credit, you'll usually find a better deal with North Carolina Farm Bureau. Drivers with "excellent" credit can save more than 25% compared to Nationwide, and those with "good" scores can also expect to see savings -- around $41 or 27% less expensive every month.

Which Company is Best for Drivers with Bad Credit?

North Carolina Farm Bureau typically offers lower prices than Nationwide when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay about $53 a month less with North Carolina Farm Bureau compared to Nationwide, and those with "poor" scores generally save an average of around $31 a month.

Is Nationwide or North Carolina Farm Bureau 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 put on your vehicle, 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 North Carolina Farm Bureau charges. However, there's a small difference in monthly rates for Nationwide, with drivers who put 6,000 miles on their car annually paying about $1 less each month compared to those who drive 12,000 miles yearly. Still, North Carolina Farm Bureau is the more affordable option for drivers in both categories.

Nationwide vs. North Carolina Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where your home is can have a sizable impact on your monthly auto insurance cost. Normally, if you live in a rural area with fewer cars on the road, you'll pay a little less for insurance, while the opposite is true for people in urban areas.

When comparing these two companies side-by-side, North Carolina Farm Bureau typically comes out as the most affordable option for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to pay around $126 monthly with North Carolina Farm Bureau and $151 with Nationwide. People in suburban areas pay about $143 with North Carolina Farm Bureau compared to Nationwide's $159 a month. For drivers in urban ZIP codes, North Carolina Farm Bureau's average premiums are around $120 per month compared to Nationwide's $199.

Nationwide vs. North Carolina Farm Bureau Discounts

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

The challenging part is finding all of the discounts you can take advantage of, since it can feel sometimes like every carrier has different discounts and each one is advertised differently.

Below, we've broken down all of the different discounts offered by both Nationwide and North Carolina Farm Bureau so that you can find the one that has the most discounts and, therefore, the biggest savings.

Nationwide blows North Carolina Farm Bureau away when it comes to the sheer amount of discounts available, offering 19 more discounts than North Carolina Farm Bureau.

There are a couple discounts both carriers offer, but Nationwide also offers advance quote discounts, agency transfer discounts, anti-theft discounts, and more that North Carolina Farm Bureau does not.

On the flip side, North Carolina Farm Bureau has a couple unique discounts of its own -- paid in full discounts and protection plus discounts.

Final Thoughts: Is Nationwide or North Carolina Farm Bureau Best for You?

You've seen the role certain factors have on your auto insurance and the different discounts companies offer. That's all well and good, but at the end of the day, which company is the right company for you and your specific profile and needs?

North Carolina Farm Bureau might be best for you if....

• You're single and purchasing insurance by yourself.
• You drive fewer than 12,000 miles every year.

Nationwide might be best for you if...

• You're planning on moving to another state soon -- North Carolina Farm Bureau is only available in North Carolina.
• You have a DUI charge on your record.
• You're looking for the carrier with the most discounts.

We hope this guide helps you get a better idea of the difference between Nationwide and North Carolina Farm Bureau. We also hope we've given you the information you need to make the best decision about your car insurance.

At the end of the day, the sure-fire way to make sure you're getting the best deal on your insurance policy is to compare quotes from several carriers, not just Nationwide and North Carolina Farm Bureau. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code below and get free quotes from dozens of top car insurance companies in your area, all in just a few minutes.

Nationwide vs. North Carolina Farm Bureau FAQs

Is Nationwide or North Carolina Farm Bureau cheaper?

Looking just at the national average rates, North Carolina Farm Bureau is the less expensive of the two carriers, offering average rates of $130 a month compared to $170 for Nationwide. Even so, North Carolina Farm Bureau won't necessarily be the cheapest company for everyone, since there are a range of different variables that come into play when it comes to your auto insurance bill.

Who is better, Nationwide or North Carolina Farm Bureau?

Sadly, the only answer we can give you is "it depends.". Neither carrier is "better" for everyone -- it all depends on the makeup of your unique insurance profile. For example, Nationwide offers cheaper premiums for drivers with a recent DUI, while North Carolina Farm Bureau is more affordable for drivers with excellent credit.

Why do Nationwide and North Carolina Farm Bureau offer me different rates?

Auto insurance companies take a look at many different factors when calculating the prices they charge policyholders. Variables such as age, where you call home, your driving record, gender, and sometimes even things like your credit score can all be used. Both Nationwide and North Carolina Farm Bureau calculate premiums differently, so each one will most likely offer different rates. The only real way to see which company is the lowest for you is by comparing personalized quotes from several different carriers.

How do I know if Nationwide or North Carolina Farm Bureau 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 do all the hard work for you. 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 rate. And who knows, the best company for you might not be Nationwide or North Carolina Farm Bureau 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.