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

Quick Facts

• In general, Virginia Farm Bureau offers significantly less expensive prices than Nationwide
• Nationwide may help you save more money -- they offer more discounts than Virginia Farm Bureau Insurance
• Virginia Farm Bureau has more affordable rates in VA

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

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

You've maybe even narrowed your search down to Nationwide or Virginia Farm Bureau as potential options, but between the two, which carrier will save you the most?

As you can see, Virginia Farm Bureau is quite a bit cheaper than Nationwide, with prices averaging $101 a month compared to $170 with Nationwide when looking at the national average rates for auto insurance.

That being said, that doesn't necessarily mean Virginia Farm Bureau will be the cheaper option for every single driver. Car insurance carriers vary their premiums depending on things like how old you are, where you live, how good your credit score is, how clean your driving record is, and tons of other factors. So, at the end of the day, rates from every company will differ quite a bit from person to person.

Wanting to know if Nationwide or Virginia Farm Bureau is really the right carrier for you? Keep on reading to see how average prices can change based on all of the factors we've mentioned above.

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

Nationwide and Virginia Farm Bureau only compete against each other in Virginia, where Virginia Farm Bureau offers the cheaper average premiums. Virginia Farm Bureau drivers tend to pay about $21 per month less on average compared to drivers who use Nationwide for their insurance.

That being said, there are plenty of other factors that go into your auto insurance payment than just where you call home. 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 insurance than any other group of drivers. The reason is that teen drivers are statistically much more likely to get into an accident that results in an insurance claim, making them much riskier to insure.

But still, even with seemingly sky-high prices, teen drivers can still find ways to save money. As you can see above, teens who use Virginia Farm Bureau save almost 45% a month compared to those who use Nationwide. It's worth noting that Nationwide offers auto insurance in 34 different states compared to Virginia Farm Bureau's one, which can skew the average premiums a bit, but the difference here is still considerable.

Even so, both companies will offer you dramatically lower rates by the time drivers turn 25. For example, average premiums for Nationwide policyholders decrease over 60% and Virginia Farm Bureau's rates reduce nearly 60% over that time.

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 lowest prices out there.

So, which company offers the best premiums to retired drivers? Virginia Farm Bureau gets the edge here, with average rates coming in at around $91 per month compared to Nationwide's $125.

Which is the Best Company for Married Drivers?

Married drivers tend to get slightly more affordable auto insurance prices than single drivers. That's because policies for married couples usually cover more than one vehicle, which several carriers will give you a discount for.

For those who are single, the difference in average premiums between these two companies is significant, with Virginia Farm Bureau prices coming in at about half of Nationwide's. The advantage for married policyholders with Virginia Farm Bureau is also obvious, where drivers save around $45 per month.

Nationwide or Virginia Farm Bureau: Average Rates by Gender

Because women are less likely to get tickets and get into collisions, they have a decreased chance of filing a claim with insurance. So, insurance carriers will often charge women less than men.

On average, women see rates more than $10 a month cheaper with Nationwide, and about $4 less with Virginia Farm Bureau.

Looking at the data for each carrier specifically, Virginia Farm Bureau comes out on top for both men and women. On average, male drivers save about $73 per month and women save around $65 with Virginia Farm Bureau compared to the average Nationwide policyholder.

Nationwide vs. Virginia 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.

For most people, car insurance can be pretty complicated. There are so many different limits and coverages that it can make it pretty confusing to find the right policy for you.

However, most policies that drivers look at fall into two categories -- liability coverage (which covers the other party's injuries and property damage if you cause a collision) and full coverage (which typically refers to having collision and comprehensive coverages in addition to what you get with liability).

Looking specifically at state minimum limits for liability insurance, Virginia Farm Bureau has the significant edge, with average monthly prices coming in at $66. If you want a full coverage policy with the same state minimum limits, Virginia Farm Bureau again has the edge, with policies averaging about $136 a month to Nationwide's $229.

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

You've probably seen plenty of commercials from insurance companies offering great premiums 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 at-fault collisions and speeding tickets lead to higher rates, but which company -- Nationwide or Virginia Farm Bureau -- has the cheapest premiums for drivers with less-than-ideal driving records?

Which Company is Best for Drivers with Speeding Tickets?

Policyholders who use Nationwide for their auto insurance can generally expect their monthly bill to go up around 16% after getting a speeding ticket. Virginia Farm Bureau policyholders can expect a bit more drastic of an increase of about 23%.

But Virginia Farm Bureau tends to offer the best prices for both drivers who have clean records and those with a recent ticket -- their rates are around 34% less expensive for drivers with clean records and 28% more affordable for those with a ticket.

Which Company is Best for Drivers After an Accident?

Nationwide drivers who get in an accident can expect to see their prices rise by just under $55, while those who have insurance through Virginia Farm Bureau will see around a $25 increase.

At the end of the day, drivers who use Virginia Farm Bureau end up with the cheaper prices after an accident, with average rates coming in at $105 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 car insurance bill. For example, Nationwide increases average premiums by more than $100 per month -- that's more than a 45% increase.

Virginia Farm Bureau has the overall most affordable rates for drivers with a DUI on their records at $111 monthly, but it's worth noting that Nationwide's average rates come from 34 states compared to just one for Virginia Farm Bureau, so the data may be skewed slightly.

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

Did you know many insurance carriers take your credit score into account when determining prices? This isn't true for everyone (Michigan, for example, has banned the use of credit score as an auto insurance factor) but it does affect lots of policyholders out there.

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

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

Which Company is Best for Drivers with Good Credit?

If you have a great credit score, Virginia Farm Bureau will generally reward you the most. For drivers with "excellent" credit scores, Virginia Farm Bureau comes in over 51.13 less expensive. Drivers with "good" credit scores normally save about 42% with Virginia Farm Bureau compared to average prices from Nationwide.

Which Company is Best for Drivers with Bad Credit?

Virginia Farm Bureau typically offers lower rates than Nationwide when it comes to drivers with less-than-stellar credit. Drivers with "fair" credit pay around 39% a month less with Virginia Farm Bureau compared to Nationwide, and those with "poor" scores usually save an average of about 34% a month.

Is Nationwide or Virginia 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 insurance bill. Normally, 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.

Virginia Farm Bureau tends to be the less expensive option for both remote workers and those taking short commutes. Nationwide's average prices for drivers with 6,000 annual miles come in over $70 more expensive than Virginia Farm Bureau. Those who drive 12,000 miles annually can expect to pay nearly $70 more with Nationwide over Virginia Farm Bureau.

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

Where you call home can have a large impact on your monthly car insurance cost. Generally, policyholders who live in heavily-populated urban areas will pay quite a bit more than rural drivers due to the number of cars that are on the roads where they live.

Virginia Farm Bureau boasts the lowest average premiums for drivers in all types of areas, no matter if they're urban, suburban, or rural.

For drivers in urban ZIP codes, Virginia Farm Bureau's average rates are around $109 per month compared to Nationwide's $199. Drivers in suburban ZIP codes pay a monthly premium of about $116 with Virginia Farm Bureau compared to $159 with Nationwide. Those in rural areas can expect to pay around $78 monthly with Virginia Farm Bureau compared to Nationwide's $151.

Nationwide vs. Virginia Farm Bureau Discounts

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

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

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

There are a couple discounts both carriers offer, but Nationwide also offers discounts for advance quote, agency transfer, anti-theft, and more.

On the other hand, Virginia Farm Bureau has a few proprietary discounts of their own for things like ABS discounts, new business discounts, and umbrella policy discounts.

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

So, you've seen how different variables can affect your auto insurance prices. We've shown you all the discounts each company offers, too. But, when it comes down to it, is Nationwide or Virginia Farm Bureau the best company for you and your specific profile and needs?

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

• Your driving record includes a DUI charge.
• Your home is in a busy urban area.
• You want to save money while purchasing car insurance for a teenager.

Nationwide might be best for you if...

• You value the experience that comes with a large national auto insurance carrier.
• You care about discounts (Nationwide offers the most).

Hopefully, this guide helps you get a good idea of the differences between Nationwide and Virginia Farm Bureau and that it aids in making a more informed decision about your insurance.

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

Nationwide vs. Virginia Farm Bureau FAQs

Is Nationwide or Virginia Farm Bureau cheaper?

Virginia Farm Bureau is the cheaper of the two companies when looking at national average rates, with policies averaging $101 a month with Virginia Farm Bureau and $170 for Nationwide. However, that doesn't mean Virginia Farm Bureau will be the cheapest company for everyone, since there are a bunch of different factors (things like gender, age, driving record, etc.) that play a role in how much you pay.

Who is better, Nationwide or Virginia Farm Bureau?

Unfortunately, the only answer we can give you is "it depends.". No one carrier is necessarily "better" for each policyholder -- it all depends on what your unique car insurance profile looks like.

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

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

How do I know if Nationwide or Virginia 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 several carriers and finding the one best suited for your individual budget. Luckily, sites like Compare.com make it easy for you to do just that. Just enter your ZIP code and you'll get quotes from dozens of your local top car insurance companies for free. That way, you can guarantee you're getting the cheapest price. And maybe you'll find that the best company for you isn't Nationwide or Virginia 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.