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

Quick Facts

• Looking at the national averages for car insurance, Nationwide offers slightly more affordable rates than Vermont Mutual
• Nationwide tends to be a much less expensive option for policyholders who live in urban areas
• Vermont Mutual offers more affordable premiums for policyholders who have a clean driving record, free of collisions, tickets, or DUIs

Nationwide or Vermont Mutual: Which Company has the Cheapest Car Insurance?

Are you considering a new insurance policy? After all, you've seen ads from all sorts of companies offering big savings. But exactly how much can you save by switching?

You've maybe even narrowed your search down to Nationwide or Vermont Mutual, but between the two, which carrier has cheaper rates for insurance?

Looking at nationwide averages, Vermont Mutual is around $3 more a month than Nationwide.

But that doesn't mean Nationwide will necessarily be less expensive than Vermont Mutual for each driver. Auto insurance carriers use a ton of complex algorithms to determine prices, so depending on where you live or how old you are (among a whole range of other factors), you could see wildly different premiums from the ones above.

Wanting to know if Nationwide or Vermont Mutual is really the right company for you? Keep on reading to see how average rates can change based on all of the factors we've mentioned above.

Nationwide vs. Vermont Mutual: Average Car Insurance Rates by State

Nationwide and Vermont Mutual only compete against each other in two states, with Nationwide offering more affordable prices to the average driver in all of them. Vermont has the most noticable difference, where Nationwide rates are $24 cheaper than car insurance premiums at Vermont Mutual.

There's a lot more that goes into your auto insurance payment than just the state you live in. Keep reading to learn more.

Which is the Best Company For Young Drivers?

You might already know that teen drivers generally pay a lot more for car insurance than any other group of drivers. That's because teen drivers are statistically much more likely to get into an accident that results in an auto insurance claim, making them much riskier to insure.

However, that doesn't mean teen drivers can't still save money on their insurance. For example, 18-year-old drivers pay an average of almost 10% less per month by choosing Vermont Mutual over Nationwide.

Even so, with both companies, you'll see your prices lower significantly by the time you turn 25. For example, average rates for Nationwide policyholders drop over 60% and Vermont Mutual's premiums reduce more than 50% over that time.

Which is the Best Company for Retired Drivers?

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

But who has the best rates for retired drivers between Nationwide and Vermont Mutual? In this case, Nationwide has the slight edge, with prices about $6 a month less than Vermont Mutual. That being said, the difference is only around 5%, so other variables (like your credit score or your driving record) will likely come into play when determining which carrier has the most affordable premiums for you.

Which is the Best Company for Married Drivers?

Married couples tend to get slightly more affordable insurance rates than those who are single. That's normally because married drivers tend to own and insure more than one vehicle, which can often earn you a discount.

When it comes to relationship status, Vermont Mutual is the winner for single drivers, with prices about 1% per month cheaper than Nationwide, on average.

Nationwide or Vermont Mutual: Average Rates by Gender

Men are statistically more likely than women to get into a collision or get pulled over for speeding, which means they'll typically end up paying more for car insurance than women.

Normally, men see premiums around $10 a month higher with Nationwide, and about $15 with Vermont Mutual.

When it comes to the cheapest prices for each gender, Nationwide comes out on top for both men and women, with average rates $4 less for men and $2 cheaper for women.

Nationwide vs. Vermont Mutual: 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.

For most people, auto insurance isn't the easiest topic to understand. There are so many different coverages and terms that it can make it pretty confusing to find the right policy for you.

The two most common policies that drivers look at fall into two categories -- liability coverage (which provides property damage and bodily injury coverage for other drivers and passengers if you cause an accident) and full coverage (which includes collision and comprehensive coverages that protect your own car, in addition to what you get with a liability policy).

When it comes to state minimum liability insurance, Vermont Mutual has the edge, while Nationwide offers the lowest average premiums for full coverage policies with similar coverage limits. Policyholders looking for basic state minimum coverage can save around $25 with Vermont Mutual, while full coverage comes out to be around $30 less expensive with Nationwide.

Is Nationwide or Vermont Mutual Better for Drivers with Spotty Records?

You've probably seen plenty of commercials from insurance carriers offering great prices for good drivers, but that doesn't mean people with less-than-perfect driving records can't save money, too.

It's no secret secret that speeding tickets and at-fault accidents lead to higher rates, but which company -- Nationwide or Vermont Mutual -- has the most affordable prices for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Drivers who use Nationwide for their car insurance can usually expect their monthly bill to go up about 16% after getting a speeding ticket. Vermont Mutual policyholders can expect a less drastic increase of around 6%.

However, Vermont Mutual is generally the more affordable option for drivers both with a ticket and with a clean record -- their rates are around 6% cheaper for drivers with clean records and 17% less expensive for those with a ticket.

Which Company is Best for Drivers After an Accident?

Nationwide policyholders who get in a collision can expect to see their premiums rise by just under 30%, while those who have insurance through Vermont Mutual will see about a 20% increase.

At the end of the day, drivers who use Vermont Mutual end up with the cheaper prices after an accident, with average rates coming in at $144 compared to Nationwide's $178.

Which Company is Best for Drivers with a DUI?

On average, a DUI offense is going to cost you much more than a single collision or speeding ticket when it comes to your auto insurance bill. For example, Vermont Mutual increases average premiums by nearly $200 per month -- that's more than a 60% increase.

But if you end up with a DUI charge and are looking for more affordable rates, Nationwide tends to be cheaper for the average driver, with monthly premiums coming in at around $230 to Vermont Mutual's $307.

How does Credit Score Impact Nationwide and Vermont Mutual Rates?

Did you know many insurance companies take your credit score into account when determining prices? This isn't true for everyone (for example, Massachusetts and Hawaii are two states that ban the practice entirely), but it does affect lots of drivers out there.

The reasoning auto insurance carriers use is that policyholders with bad credit will be less likely to pay their bills on time; so normally, they'll be asked to pay more, while those with good credit will be rewarded with more affordable premiums.

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

Which Company is Best for Drivers with Good Credit?

If you have a solid credit score, Vermont Mutual will typically reward you the most. For policyholders with "excellent" credit scores, Vermont Mutual comes in over 21.8 less expensive. Drivers with "good" credit scores generally save about 21% with Vermont Mutual compared to average prices 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 rates. Drivers with "fair" credit pay around 9% less with Vermont Mutual than Nationwide, but those whose credit is considered "poor" have it flipped -- saving about 26% a month with Nationwide.

Is Nationwide or Vermont Mutual Better for Drivers who Work from Home or Have Short Commutes?

How much you drive can have a considerable impact on how much car insurance companies will charge for coverage. That's because the fewer miles you put on your vehicle each year, the less likely you are to be in an accident and file an insurance claim.

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

Nationwide or Vermont Mutual: Compare Rates for Urban, Suburban, and Rural Drivers

Where you park your vehicle can play a pretty big role in how much you pay for insurance. Usually, drivers who live in heavily-populated urban areas will pay quite a bit more than rural policyholders since there are a lot more cars on the road where they live, which increases the chances of an accident.

Nationwide vs. Vermont Mutual Discounts

No matter why you might be in the market for a new auto 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 utilizing as many car insurance discounts as possible.

But where do you even start? With what seems like a million different discounts out there, it may be difficult to find all the ones you're eligible for.

Luckily, we did the hard work for you and compared all of the different discounts offered by Nationwide and Vermont Mutual so that you can easily see which company offers the most discounts and, therefore, the largest savings.

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

Both carriers offer many of the same discounts -- like anti-theft discounts, discounts for getting driver training, and discounts for being a good student -- but Nationwide also offers discounts for agency transfer, defensive driver, EFT, and more.

On the other hand, Vermont Mutual has a few proprietary discounts of their own for things like ABS discounts, annual mileage discounts, experienced operator discounts, and more.

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

You've seen the effect certain factors have on your insurance and the different discounts companies offer. That's all well and good, but when it comes down to it, is Nationwide or Vermont Mutual the best company for you and your specific needs?

Nationwide might be best for you if....

• Your driving record includes a DUI charge.
• You live in a rural neighborhood.
• You drive fewer than 12,000 miles yearly.

Vermont Mutual might be best for you if...

• You like the personalized touch of a small, regional company.
• You've received a ticket for speeding recently and don't want to see your rates increase.
• You want to save money while purchasing auto insurance for a teenager.

Hopefully, this guide helps you get a good idea of the differences between Nationwide and Vermont Mutual and that you can now make a more informed decision when it comes to your 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 car insurance -- comparing quotes from a handful of carriers, not just Nationwide and Vermont Mutual. Luckily, Compare.com does all the hard work for you. Simply enter your ZIP codes below and get free quotes from dozens of top auto insurance companies in your area, all in just a few minutes.

Nationwide vs. Vermont Mutual FAQs

Is Nationwide or Vermont Mutual cheaper?

Nationwide is the more affordable of the two carriers when looking at national average premiums, with policies averaging $170 per month with Nationwide and $173 for Vermont Mutual. Even so, that doesn't mean Nationwide will be the most affordable carrier for every driver, since there are a variety of different variables (things like driving record, age, gender, etc.) that play a role in how much you pay.

Who is better, Nationwide or Vermont Mutual?

Unfortunately, the only answer we can give you is "it depends.". No single company is necessarily "better" for everyone -- it all comes down to what your unique insurance profile looks like. For example, Nationwide is less expensive for drivers who have less-than-stellar credit scores, while Vermont Mutual offers more affordable prices for drivers with an at-fault accident on their record.

Why do Nationwide and Vermont Mutual offer me different rates?

Car insurance companies use quite a few different factors when calculating the premiums they charge. Variables like age, your driving record, where your home is, gender, and sometimes even things like your credit score can all be used. Both Nationwide and Vermont Mutual calculate rates using different formulas, so it's likely they'll offer different prices. The best way to determine which carrier is the lowest for you is by comparing personalized quotes from many different carriers.

How do I know if Nationwide or Vermont Mutual 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, Compare.com makes it easy for you to do just that. Just enter your ZIP code 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 carrier for you isn't Nationwide or Vermont Mutual 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.