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

Quick Facts

• Looking at the national averages for car insurance, Southern Farm Bureau offers significantly more affordable premiums than Nationwide
• Nationwide offers more discounts than Southern Farm Bureau Insurance
• Southern Farm Bureau has less expensive rates for policyholders who haven't received any speeding tickets or been in an accident in the last few years

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

Are you considering a new insurance policy? With so many ads from all sorts of companies offering hefty discounts, you're probably wondering exactly how much you might be able to save.

You might have narrowed it down to Nationwide or Southern Farm Bureau, but between the two, which one has cheaper prices for insurance?

Looking at nationwide averages, Nationwide has average rates that are about 40% per month more expensive than those from Southern Farm Bureau.

But Southern Farm Bureau may not be the cheapest or best option for each driver out there. Auto insurance companies vary their premiums depending on things like how old you are, how good your credit score is, how clean your driving record is, where you live, and a variety of other factors, so prices could vary drastically from person to person.

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

Nationwide or Southern Farm Bureau: Average Car Insurance Rates by State

Nationwide and Southern Farm Bureau only compete against each other in Arkansas, where Southern Farm Bureau offers the cheaper average rates. For Arkansas residents, Southern Farm Bureau offers car insurance for $103 a month on average. Nationwide's average premiums come out to be over 70% more expensive, at $186 per month.

But there's more to calculating insurance prices than just where you live. Continue reading to see 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 car insurance than any group on the road. Generally, that's 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 teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of nearly $200 less a month by choosing Southern Farm Bureau over Nationwide. It's worth noting that Nationwide offers auto insurance in 34 different states compared to Southern Farm Bureau's one, which can skew the average rates a bit, but the difference here is still considerable.

Even so, with both carriers, you'll see your premiums reduce significantly once you turn 25. For example, average rates for Nationwide policyholders decrease more than 60% and Southern Farm Bureau's prices drop around 50% over that time.

Which is the Best Company for Retired Drivers?

Once you approach retirement age, you'll normally enjoy the most affordable car insurance premiums you can find. You've been on the road for years, and all that experience pays off when it comes to your monthly prices for auto insurance.

So, which company offers the best rates to retired drivers? Southern Farm Bureau gets the edge, with premiums for drivers 65 and older $49 more affordable than the national average for Nationwide.

Which is the Best Company for Married Drivers?

Did you know that insurance rates are usually cheaper for married drivers than they are for single drivers? That's because policies for married policyholders generally cover several cars, which lots of companies will offer you a discount for.

When it comes to relationship status, Southern Farm Bureau is the clear winner for those who are single, with prices about $81 per month less expensive than Nationwide, on average. The advantage is also clear for married couples - Southern Farm Bureau offers the lowest average premiums.

Nationwide vs. Southern Farm Bureau: Average Rates by Gender

Did you know men normally pay more for auto insurance than women? This is because men are statistically more likely than women to get into a collision or get pulled over for speeding, which leads to increased risk for insurers and, therefore, higher rates.

On average, men see prices over $10 a month higher with Nationwide, while with Southern Farm Bureau, the difference is closer to $6 per month.

Looking at the data for each carrier specifically, Southern Farm Bureau offers the most affordable average rates for both men and women. On average, male drivers save about $70 a month and women save around $64 with Southern Farm Bureau compared to the average Nationwide policyholder.

Nationwide or Southern 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 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.

However, most policies end up falling into two different types of coverage -- liability only (which covers the other party's property damage and injuries if you cause an accident) and full coverage (which includes comprehensive and collision coverages that protect your own vehicle, in addition to what you get with a liability policy).

If you're looking for state minimum liability limits, Southern Farm Bureau typically offers significantly cheaper prices of $54 compared to Nationwide's $112. When it comes to full coverage policies with similar limits, Southern Farm Bureau again has the edge, with policies about $80 per month less expensive than Nationwide, on average.

Is Nationwide or Southern Farm Bureau Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from car insurance carriers offering great premiums 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 accidents and tickets on your record, but which of these two companies offers the lowest rates to drivers with spotty records?

Which Company is Best for Drivers with Speeding Tickets?

Nationwide policyholders can expect their premiums to go up an average of $24 a month if they get a ticket, while Southern Farm Bureau usually raises prices around $8 per month, on average.

That being said, Southern Farm Bureau has more affordable premiums for drivers in both categories, offering prices that are $36 and $52 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 rates rise by just under $55, while those who have insurance through Southern Farm Bureau will see about a $25 increase.

Overall, the less expensive premiums come from Southern Farm Bureau, with monthly rates averaging $116 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 auto insurance prices after a DUI charge, while Southern Farm Bureau will normally climb rates by around 18%.

Southern Farm Bureau has the overall cheapest prices for drivers with a DUI on their records at $108 monthly, but it's worth noting that Nationwide's average rates come from 34 states compared to just one for Southern Farm Bureau, so the data may be skewed slightly.

How does Credit Score Impact Nationwide and Southern Farm Bureau Rates?

Did you know that many car insurance carriers take into account your credit score when calculating premiums? Certain states and companies do not allow for credit score to be used as a rating factor, but it might come into play for a lot of policyholders.

Insurance carriers argue that those with poor credit scores are less likely to pay their bills on time each month, which increases the risk involved on their end, while the opposite is true for those with good credit.

Looking specifically at Nationwide and Southern Farm Bureau, which carrier has the lowest rates for drivers at different credit levels?

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, you'll usually find a better deal with Southern Farm Bureau. Policyholders with "excellent" credit can save over 45% compared to Nationwide, and those with "good" scores can also expect to see savings -- about $68 or 44% more affordable every month.

Which Company is Best for Drivers with Bad Credit?

Southern Farm Bureau typically offers lower prices than Nationwide when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around $73 a month less with Southern Farm Bureau compared to Nationwide, and those with "poor" scores typically save an average of about $67 a month.

Is Nationwide or Southern 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 car insurance payment. Generally, those who drive fewer miles will end up with less expensive premiums since there's less of a chance of getting into a collision and causing an insurance claim.

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

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

Where you live can play a substantial role in how much you pay for insurance. Usually, if you live in a rural area with fewer cars on the road, you'll pay a little less for auto insurance, while the opposite is true for people in urban areas.

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

Drivers in rural ZIP codes see the lowest rates from both carriers, but Southern Farm Bureau comes out on top with average premiums about $83 per month. Southern Farm Bureau also has cheaper average prices for policyholders in urban and suburban ZIP codes -- a $89 and $44 per month respective difference when compared to Nationwide drivers in similar areas.

Nationwide vs. Southern Farm Bureau 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.

But where do you even start? With so many discounts out there, it may seem difficult to find all the of the ones you qualify for.

In the table below, we've broken down all of the different discounts offered by both Nationwide and Southern Farm Bureau so that you can easily see which company offers the most discounts and, therefore, the biggest savings.

Nationwide blows Southern Farm Bureau away when it comes to the sheer amount of discounts available, offering 22 different discounts to Southern Farm Bureau's four.

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

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

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

So, you've seen how different variables can affect your auto insurance rates. We've broken down the different discounts each carrier offers, too. But, at the end of the day, which insurance company is the best company for you and your specific driver profile?

Southern Farm Bureau might be best for you if....

• You like the personalized touch of a small, local carrier.
• You have above-average credit.
• You have a short commute.

Nationwide might be best for you if...

• You are considering moving to another state -- Southern Farm Bureau Insurance is only available in Arkansas.
• You care about discounts (Nationwide offers the most).

We hope this guide helps you get a good idea of the differences between Nationwide and Southern Farm Bureau and that you can now make a more informed decision when it comes to your insurance.

At the end of the day, the best way to make sure you're getting the best deal on your auto insurance policy is to compare quotes from several companies, not just Nationwide and Southern Farm Bureau. Luckily, Compare.com does all the hard work for you. Just enter your ZIP code below and get free quotes from dozens of top car insurance carriers in your area, all in just a few minutes.

Nationwide vs. Southern Farm Bureau FAQs

Is Nationwide or Southern Farm Bureau cheaper?

Looking just at the national average premiums, Southern Farm Bureau is the more affordable of the two companies, offering average rates of $103 a month compared to $170 for Nationwide. But Southern Farm Bureau won't necessarily be the cheapest company for each driver, since there are lots of different factors that are considered when it comes to your auto insurance cost.

Who is better, Nationwide or Southern Farm Bureau?

Unfortunately, the answer truly is "it depends.". No one carrier is "better" for everyone -- it all depends on the makeup of your unique insurance profile.

Why do Nationwide and Southern Farm Bureau offer me different rates?

Car insurance carriers take a look at quite a few different variables when determining the rates they charge policyholders. Things such as age, your driving record, where you call home, gender, and sometimes even things like your credit score can all be taken into consideration. Both Nationwide and Southern Farm Bureau calculate prices using different formulas, so each one will most likely offer different premiums. The only real way to see which company is the most affordable for you is by comparing personalized quotes from a bunch of different companies.

How do I know if Nationwide or Southern Farm Bureau 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, sites like Compare.com do all the hard work for you. Just enter your ZIP code and you'll get free quotes from dozens of the best car insurance companies in your area. That way, you can guarantee you're getting the best rate. And who knows, the best company for you might not be Nationwide or Southern 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.