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

Quick Facts

• In general, Texas Farm Bureau offers cheaper rates than Nationwide
• Nationwide may help you save more money -- they offer more discounts than Texas Farm Bureau Insurance
• Texas Farm Bureau has less expensive prices for single people who will be the only person on the car insurance policy

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

So, you're thinking about switching to a new insurance policy. After all, you've seen ads from all sorts of companies offering hefty savings. But exactly how much can you save by switching?

You might have narrowed your search down to Nationwide or Texas Farm Bureau for your next policy, but which company has cheaper rates for insurance?

As you can see, Nationwide has average rates that are around 18% a month more expensive than those from Texas Farm Bureau when looking at the national average rates for car insurance.

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

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

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

Nationwide and Texas Farm Bureau only compete against each other in Texas, where Texas Farm Bureau offers the cheaper average prices. Texas Farm Bureau drivers tend to pay about $17 per month less on average compared to drivers who use Nationwide for their insurance.

There's a lot more that goes into your car insurance bill than just where you call home. Keep reading to learn more.

Which is the Best Company For Young Drivers?

Teen drivers will almost always have the most expensive auto insurance premiums of any group on the road. Normally, 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. Just look at the table above -- where 18-year-old drivers who have Texas Farm Bureau for their auto insurance pay almost 40% less than those who use Nationwide. It's worth noting that Nationwide offers insurance in 34 different states compared to Texas Farm Bureau's one, which can skew the average rates a bit, but the difference here is still considerable.

Even so, both companies will offer you dramatically lower premiums by the time you turn 25. For example, average prices for Nationwide policyholders lower about $250 and Texas Farm Bureau's premiums decrease nearly $90 over that time.

Which is the Best Company for Retired Drivers?

Drivers around retirement age typically enjoy some of the most affordable car insurance rates out there. After all, they've likely been driving for quite some time, which generally lowers their chances of collisions and other infractions that can raise prices.

So, which company offers the best premiums to retired drivers? Texas Farm Bureau gets the edge here, with average rates coming in at around $102 per month compared to Nationwide's $125.

Which is the Best Company for Married Drivers?

Did you know that auto insurance prices are usually less expensive for married couples than they are for those who are single? That's generally because married drivers tend to own and insure more than one vehicle, which can often earn you a discount.

For single drivers, the difference in average rates between these two carriers is significant, with Texas Farm Bureau premiums coming in at a quarter less than Nationwide's. The advantage for married policyholders with Texas Farm Bureau is also obvious, where drivers save almost 20% a month.

Nationwide or Texas Farm Bureau: Average Rates by Gender

Did you know men usually pay more for insurance than women? That's because women are less likely to get tickets and get into accidents, which decreases the chances of filing a claim with insurance.

With Nationwide, women normally pay about $10 per month less than men, and over $15 with Texas Farm Bureau.

When it comes to the lowest prices for each gender, Texas Farm Bureau offers the cheapest average rates for both men and women, with average premiums 16% less for men and 20% cheaper for women.

Nationwide vs. Texas 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 car insurance can be pretty complicated. There are a range of different coverages that account for several 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.

But the most common policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage 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 insurance, Texas Farm Bureau has the edge, with average monthly prices coming in at $87. If you want a full coverage policy with the same state minimum limits, Texas Farm Bureau again has the edge, with policies averaging around $192 a month to Nationwide's $229.

Is Nationwide or Texas 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 at-fault accidents and speeding tickets on your record, but which of these two companies offers the most affordable premiums to drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders with Texas Farm Bureau car insurance policies don't report seeing their prices increase after getting a ticket, but Nationwide policyholders can expect to see their monthly bill increase by about $25.

Even so, Texas Farm Bureau is typically the more affordable option for drivers both with a speeding ticket and with a clean record, offering rates that are $54 and $78 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 increase by just under $55, while those who have insurance through Texas Farm Bureau will see around a $45 increase.

At the end of the day, the less expensive prices come from Texas Farm Bureau, with average rates coming in at $114 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 -- normally a lot more than an accident or ticket. Texas Farm Bureau drivers usually see a 76% raise in their car insurance premiums after a DUI charge, while Nationwide will typically increase rates by about 46%.

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

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

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

Auto insurance carriers argue that someone with good credit is more likely to pay their bills on time, which makes them less risky to insure. Because of that, drivers with good credit will often be rewarded with more affordable prices.

So, which carrier offers the lowest premiums for policyholders with good, average, or poor credit?

Which Company is Best for Drivers with Good Credit?

If you have great credit, Texas Farm Bureau will generally reward you the most. For drivers with "excellent" credit scores, Texas Farm Bureau comes in nearly 54.14 cheaper. Drivers with "good" credit scores usually save around 29% with Texas Farm Bureau compared to average rates from Nationwide.

Which Company is Best for Drivers with Bad Credit?

If you have less-than-perfect credit, it can be somewhat of a toss-up as far as which company offers you the best prices. Drivers with "fair" credit pay about 18% less with Texas Farm Bureau than Nationwide, but those whose credit is considered "poor" have it flipped -- saving around 11% per month with Nationwide.

Is Nationwide or Texas Farm Bureau Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a pretty big impact on how much car insurance companies will charge for coverage. Typically, those who drive less will end up with more affordable premiums since there's less of a chance of causing a collision and filing an insurance claim.

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

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

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

Texas Farm Bureau boasts the most affordable average premiums for drivers in every type of area, no matter if it's urban, suburban, or rural.

Those in rural areas can expect to save around $19 with Texas Farm Bureau compared to Nationwide. People who live in suburban areas pay about $31 less with Texas Farm Bureau compared to Nationwide. For policyholders in urban ZIP codes, Texas Farm Bureau Insurance's average prices are around $41 less than Nationwide.

Nationwide vs. Texas Farm Bureau 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 taking advantage of 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 qualify for.

Luckily, we did the hard work for you and broke down all of the different discounts offered by both Nationwide and Texas Farm Bureau so that you can easily see which company offers the most discounts and, therefore, the largest savings.

Nationwide blows Texas Farm Bureau away when it comes to the sheer amount of discounts available, offering 16 more discounts than Texas Farm Bureau.

Both carriers offer a lot of the same discounts -- like discounts for getting driver training, multi-policy discounts, and passive restraint discounts -- but Nationwide also offers discounts for advance quote, agency transfer, anti-theft, and more.

On the other hand, Texas Farm Bureau has a few proprietary discounts of their own like academic discounts and multi-car discounts.

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

You've seen the effect certain variables have on your insurance and the different discounts companies offer. But, when it comes down to it, is Nationwide or Texas Farm Bureau the best one for you and your specific profile and needs?

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

• Your driving record contains an at-fault collision.
• You have above-average credit.
• You are purchasing your auto insurance with a spouse.

Nationwide might be best for you if...

• You value the experience that comes with a large national car insurance company.
• Your driving record includes a DUI charge.
• You're looking for the carrier with the most discounts.

Hopefully, this guide helps you get a good idea of the differences between Nationwide and Texas Farm Bureau. We also hope we've given you the information you need to make the best 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 multiple carriers, not just Nationwide and Texas Farm Bureau. Luckily, sites like Compare.com do all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top car insurance companies in your area, all in just a few minutes.

Nationwide vs. Texas Farm Bureau FAQs

Is Nationwide or Texas Farm Bureau cheaper?

Texas Farm Bureau is the more affordable of the two carriers when looking at national average premiums, with policies averaging $139 a month with Texas Farm Bureau and $170 for Nationwide. But that doesn't mean Texas Farm Bureau will be the cheapest company for each driver, since there are a bunch of different factors that are considered when it comes to your insurance cost.

Who is better, Nationwide or Texas Farm Bureau?

Sadly, the only answer we can give you is "it depends.". One carrier is not necessarily "better" for every policyholder -- it all depends on what your unique car insurance profile looks like. For example, Nationwide is cheaper for drivers who have less-than-stellar credit scores, while Texas Farm Bureau offers less expensive rates for drivers with an at-fault accident on their record.

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

Auto insurance companies use several different variables when calculating the prices they charge. Things such as where your home is, where you live, gender, age, and sometimes even things like your credit score can all come into play. Both Nationwide and Texas Farm Bureau calculate premiums differently, so it's likely they'll offer different rates. The best way to determine which company is the lowest for you is by comparing personalized quotes from lots of different carriers.

How do I know if Nationwide or Texas Farm Bureau is right for me?

The only way to find the insurance carrier that's right for you is by getting quotes from several 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 car insurance carriers for free. With those, you can guarantee you're getting the best premium. And maybe you'll find that the best company for you isn't Nationwide or Texas 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.