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

Quick Facts

• In general, South Carolina Farm Bureau offers significantly more affordable prices than Nationwide
• Nationwide may help you save more money -- they offer more discounts than South Carolina Farm Bureau Insurance
• South Carolina Farm Bureau offers more affordable premiums for policyholders who live in the suburbs

Nationwide or South Carolina Farm Bureau: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? You've probably seen commercials and billboards from companies offering hefty savings, but exactly how much money can you save by switching?

You might have narrowed your search down to Nationwide or South Carolina Farm Bureau as your top options, but which carrier will offer you cheaper prices?

Looking at the national average rates for both carriers, Nationwide is quite a bit more expensive than South Carolina Farm Bureau, with premiums averaging $170 a month compared to just $111 with South Carolina Farm Bureau.

But that doesn't necessarily mean South Carolina Farm Bureau will be the less expensive option for every single driver. Insurance companies vary their rates depending on things like how clean your driving record is, where you live, how old you are, how good your credit score is, and all sorts of other factors, so premiums will change quite a bit from person to person.

So, if you want to find out which of Nationwide or South Carolina Farm Bureau is really the best for you, keep reading to see average prices for each carrier broken down by lots of different rate factors.

Nationwide vs. South Carolina Farm Bureau: Average Car Insurance Rates by State

Nationwide and South Carolina Farm Bureau only compete against each other in South Carolina, where South Carolina Farm Bureau offers the cheaper average rates. South Carolina Farm Bureau drivers tend to pay about $31 per month less on average compared to drivers who use Nationwide for their auto insurance.

That being said, there's a lot more that goes into your insurance bill than just the state you live in. Keep reading 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 car insurance than any other group of drivers out there on the road. The reason is that teen drivers are statistically much more likely to get into accidents since they have less experience on the roads.

However, that doesn't mean teen drivers can't still save money on their insurance. Just look at the table above -- where 18-year-old drivers who have South Carolina Farm Bureau for their car insurance pay over 40% less than those who use Nationwide. It's worth noting that Nationwide offers auto insurance in 34 different states compared to South Carolina Farm Bureau's one, which can skew the average prices a bit, but the difference here is still considerable.

Even so, both carriers will offer you dramatically lower rates by the time you turn 25. South Carolina Farm Bureau offers the steepest reduction, with 25-year-olds paying less than half what 18-year-old drivers are charged. Nationwide's average premiums lower more than 60% during that same period.

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'll ever find.

So, which company offers the best prices to retired drivers? South Carolina Farm Bureau gets the edge, with premiums for drivers 65 and older $50 cheaper than the national average for Nationwide.

Which is the Best Company for Married Drivers?

You may not be aware, but auto insurance rates tend to be more expensive for those who are single than they are for married policyholders. That's generally because married drivers tend to own and insure multiple vehicles, which can often earn you a discount.

For single drivers, the difference in average premiums between these two companies is significant, with South Carolina Farm Bureau prices coming in at a third less than Nationwide's. For married couples, the advantage is clear again - South Carolina Farm Bureau has the edge when it comes to average premiums.

Nationwide or South Carolina Farm Bureau: 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, insurance carriers will tend to offer women more affordable prices.

Men usually pay around $10 a month more than women with Nationwide, and about $6 with South Carolina Farm Bureau.

When it comes to the lowest rates for each gender, South Carolina Farm Bureau comes out on top for both men and women. On average, male drivers save about $62 per month and women save around $56 with South Carolina Farm Bureau compared to the average Nationwide policyholder.

Nationwide vs. South 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.

Insurance isn't the easiest topic to understand. There are several different coverages that account for many 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.

That being said, 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 typically refers to having collision and comprehensive coverages alongside liability coverage).

Looking specifically at state minimum limits for liability insurance, South Carolina Farm Bureau has the significant edge, with average monthly prices coming in at $78. If you want a full coverage policy with the same state minimum limits, South Carolina Farm Bureau again has the edge, with policies averaging about $144 a month to Nationwide's $229.

Is Nationwide or South Carolina Farm Bureau 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.

You'll probably end up paying more with collisions and speeding tickets on your record, but which of these two companies offers the cheapest rates to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Nationwide for their car insurance can generally expect their monthly bill to go up around 16% after getting a speeding ticket. South Carolina Farm Bureau policyholders can expect a less drastic increase of about 11%.

But South Carolina Farm Bureau is normally the more affordable option for drivers both with clean records and with a ticket, offering premiums that are $30 and $42 less expensive, respectively, compared to Nationwide.

Which Company is Best for Drivers After an Accident?

Both carriers will raise rates pretty significantly if you get into an at-fault collision with Nationwide raising by around 30%. South Carolina Farm Bureau has a less extreme increase, but you can still expect to pay nearly 25% more than you were prior to your first accident.

At the end of the day, drivers who use South Carolina Farm Bureau end up with the cheaper prices after an accident, with average premiums coming in at $125 compared to Nationwide's $178.

Which Company is Best for Drivers with a DUI?

If you get a DUI charge, you can expect some pretty significant increases in your monthly insurance bill -- typically a lot more than a collision or speeding ticket. For example, Nationwide increases average prices by more than $100 per month -- that's more than a 45% increase.

South Carolina Farm Bureau has the overall most affordable premiums for drivers with a DUI on their records at $116 per month, but it's worth noting that Nationwide's average rates come from 34 states compared to just one for South Carolina Farm Bureau, so the data may be skewed slightly.

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

Did you know many car insurance companies take your credit score into account when determining rates? This isn't true for everyone (for example, Massachusetts and California are two states that ban the practice entirely), but it might come into play for a lot of drivers.

The reasoning auto insurance carriers use is that policyholders 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 usually be forced to pay more.

So, which carrier offers the lowest rates for drivers with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, South Carolina Farm Bureau will typically reward you the most. For policyholders with "excellent" credit scores, South Carolina Farm Bureau comes in just under 43.61 more affordable. Drivers with "good" credit scores generally save about 39% with South Carolina Farm Bureau compared to average premiums from Nationwide.

Which Company is Best for Drivers with Bad Credit?

South Carolina Farm Bureau typically offers lower prices than Nationwide when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 39% a month less with South Carolina Farm Bureau compared to Nationwide, and those with "poor" scores normally save an average of about 24% a month.

Is Nationwide or South Carolina Farm Bureau 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 your monthly insurance payment? Usually, the more milage you put on your car, the more you can expect to pay for coverage.

As you can see in the table above, annual mileage doesn't have much of an impact on how much South Carolina Farm Bureau charges. However, there's a small difference in monthly premiums for Nationwide, with drivers who put 6,000 miles on their vehicle annually paying around $1 less every month compared to those who drive 12,000 miles each year. Still, for drivers in both categories, South Carolina Farm Bureau is the cheaper company.

Nationwide or South Carolina Farm Bureau: Compare Rates for Urban, Suburban, and Rural Drivers

Where you call home can play a big role in how much you pay for auto insurance. Generally, if you live in an urban area with more cars on the road, you'll pay a little more for car insurance, while the opposite is true for people in rural areas.

South Carolina Farm Bureau tends to offer the lowest prices for drivers in all areas, regardless of if they're urban, suburban, or rural.

If you live in a rural area, you can expect to pay about $114 monthly with South Carolina Farm Bureau compared to Nationwide's $151. People in suburban areas pay around $103 with South Carolina Farm Bureau compared to Nationwide's $159 a month. In urban areas, South Carolina Farm Bureau's average rates are about $115 while Nationwide offers prices around $199.

Nationwide vs. South Carolina Farm Bureau Discounts

No matter why you might be in the market for a new insurance policy, you're always going to want to save as much money as you can. That's where car insurance discounts comes into play.

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

Luckily, we did the hard work for you and looked at all of the different discounts Nationwide and South Carolina Farm Bureau offer their customers 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 South Carolina Farm Bureau away when it comes to the sheer amount of discounts available, offering 22 different discounts to South Carolina Farm Bureau's five.

A couple of those are overlapping for things like discounts for being a defensive driver, discounts for getting driver training, and multi-policy discounts. Nationwide also offers discounts for advance quote, agency transfer, anti-theft, and more.

South Carolina Farm Bureau's discounts come through just a few categories, including Defensive Driver, Distant Student, Driver Training, and more.

Final Thoughts: Is Nationwide or South Carolina Farm Bureau 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 best company for you and your specific needs?

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

• Your driving record contains an at-fault collision.
• Your home is located in the suburbs.
• You want to save money while purchasing auto insurance for a teenager.

Nationwide might be best for you if...

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

Hopefully, this guide helps you get a better idea of the difference between Nationwide and South Carolina Farm Bureau. 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 best way to make sure you're getting the best deal on your car insurance policy is to compare quotes from multiple carriers, not just Nationwide and South Carolina Farm Bureau. Luckily, sites like Compare.com do all the hard work for you. Just enter your ZIP code below and get multiple free quotes from some of the best auto insurance companies in your area, all in just a few minutes.

Nationwide vs. South Carolina Farm Bureau FAQs

Is Nationwide or South Carolina Farm Bureau cheaper?

South Carolina Farm Bureau is the less expensive of the two carriers when looking at national average prices, with policies averaging $111 per month with South Carolina Farm Bureau and $170 for Nationwide. However, that doesn't mean South Carolina Farm Bureau will be the most affordable company for every policyholder, since there are a bunch of different factors that come into play when it comes to your insurance cost.

Who is better, Nationwide or South Carolina Farm Bureau?

Sadly, the answer truly is "it depends.". No single carrier is "better" for each policyholder -- it all comes down to what your unique car insurance profile looks like.

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

Insurance companies use several different variables when calculating the premiums they charge. Things like your driving record, age, where you park your car, gender, and sometimes even things like your credit score can all be used. Both Nationwide and South Carolina Farm Bureau calculate rates differently, 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 a range of different carriers.

How do I know if Nationwide or South 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 a handful of companies and finding the one best suited for your individual budget. Luckily, Compare.com makes it easy for you to do just that. Just enter your information once and you'll get quotes from dozens of your local top auto insurance carriers for free. That way, you can guarantee you're getting the best premium. And maybe you'll find that the best company for you isn't Nationwide or South Carolina Farm Bureau 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.