Nationwide vs. State Farm: Best Auto Insurance for 2024
Nationwide and State Farm are excellent auto insurance companies that offer rates under $300/mo on average. However, Nationwide vs. State Farm auto insurance rates are based on age, driving record, and credit score. You can secure cheap Nationwide vs. State Farm auto insurance quotes by shopping around and asking about discounts.
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Jimmy McMillan
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Jimmy McMillan is an entrepreneur and the founder of HeartLifeInsurance.com, an independent insurance brokerage. His company specializes in insurance for people with heart problems. He knows personally how difficult it is to secure health and life insurance after a heart attack. Jimmy is a licensed insurance agent from coast to coast who has been featured on ValientCEO and the podcast Modern Li...
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UPDATED: Nov 12, 2024
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You’re almost ready to buy an auto insurance policy, but there’s one step left. Before you decide between Nationwide and State Farm, you should compare auto insurance from both companies.
Don’t worry – we’ll show how to compare various factors, discounts, and third-party ratings.
Read on to learn more about how Nationwide vs. State Farm auto insurance stack up. Use our free online comparison tool to compare the best companies near you.
- State Farm is number one in the auto insurance industry
- Nationwide has a cheaper national average rate
- Various factors can lower your State Farm auto insurance rates
- Both companies have superior financial ratings under AM Best
Nationwide vs. State Farm Auto Insurance: Which company is cheapest?
On average, State Farm car insurance is cheaper than Nationwide. However, your rates vary.
But why? Auto insurance companies, including Nationwide and State Farm, determine auto insurance rates through different factors. Each factor affects your car insurance.
To get an idea of how much you could pay for auto insurance, we’ve collected sample rates from Nationwide and State Farm to show you a side-by-side comparison.
If you want a more comprehensive view of Nationwide and State Farm, visit our Nationwide auto insurance review or State Farm auto insurance review.
Nationwide vs. State Farm: Which company is cheapest by the state?
One of the main factors when determining car insurance is location. Each state carries different risks.
Some states are more densely populated than others, so auto insurance providers prepare for risks by issuing premiums based on statistics.
Let’s look at how Nationwide and State Farm auto insurance is calculated based on each state.
Nationwide vs. State Farm Auto Insurance Rates by States
| State | Nationwide Average Monthly Auto Insurance Rates | State Farm Average Monthly Auto Insurance Rates |
|---|---|---|
| Alaska | N/A | $186 |
| Alabama | $222 | $400 |
| Arkansas | $322 | $232 |
| Arizona | $291 | $396 |
| California | $388 | $350 |
| Colorado | $312 | $273 |
| Connecticut | $306 | $248 |
| District of Columbia | $404 | $340 |
| Delaware | $361 | $372 |
| Florida | $362 | $283 |
| Georgia | $540 | $282 |
| Hawaii | $213 | $87 |
| Iowa | $228 | $185 |
| Idaho | $253 | $156 |
| Illinois | $226 | $195 |
| Indiana | N/A | $201 |
| Kansas | $206 | $227 |
| Kentucky | $459 | $280 |
| Louisiana | N/A | $382 |
| Maine | N/A | $183 |
| Maryland | $243 | $330 |
| Massachusetts | N/A | $113 |
| Michigan | $527 | $1,047 |
| Minnesota | $244 | $172 |
| Missouri | $189 | $224 |
| Mississippi | $230 | $248 |
| Montana | $290 | $201 |
| North Carolina | $237 | $257 |
| North Dakota | $213 | $213 |
| Nebraska | $217 | $203 |
| New Hampshire | $208 | $182 |
| New Jersey | N/A | $627 |
| New Mexico | $293 | $195 |
| Nevada | $290 | $483 |
| New York | $334 | $374 |
| Ohio | $275 | $209 |
| Oklahoma | N/A | $235 |
| Oregon | $265 | $228 |
| Pennsylvania | $233 | $229 |
| Rhode Island | $367 | $201 |
| South Carolina | $302 | $256 |
| South Dakota | $228 | $192 |
| Tennessee | $285 | $220 |
| Texas | $322 | $240 |
| Utah | $249 | $387 |
| Virginia | $173 | $189 |
| Vermont | $177 | $365 |
| Washington | $177 | $208 |
| West Virginia | N/A | $177 |
| Wisconsin | $435 | $199 |
| Wyoming | $266 | $192 |
| *National Average | $288 | $272 |
Overall, State Farm car insurance is cheaper across the United States. There are some states where Nationwide is more affordable, but there are more states with less expensive rates under State Farm.
Nationwide vs. State Farm: Which company is cheapest by vehicle?
The make and model year of your vehicle can determine the cost of your car insurance policy.
Let’s examine how Nationwide and State Farm determine rates based on vehicles.
Nationwide vs. State Farm Auto Insurance Rates by Vehicle
| Vehicles | Nationwide Average Monthly Auto Insurance Rates | State Farm Average Monthly Auto Insurance Rates |
|---|---|---|
| 2015 Ford F-150: Lariat SuperCab with 2WD 6.5 foot bed and 2.7L V6 | $298 | $267 |
| 2015 Honda Civic Sedan: LX with 2.0L 4cyl and CVT | $296 | $252 |
| 2015 Toyota RAV4: XLE | $293 | $269 |
| 2018 Ford F-150: Lariat SuperCab with 2WD 6.5 foot bed and 2.7L V6 | $281 | $291 |
| 2018 Honda Civic Sedan: LX with 2.0L 4cyl and CVT | $280 | $266 |
| 2018 Toyota RAV4: XLE | $277 | $285 |
Look at how the auto insurance cost varies for each vehicle. Nationwide Insurance provides cheaper rates for new cars, but State Farm insurance charges less for older vehicles.
Nationwide vs. State Farm: Which company is cheapest by age?
Car insurance companies also factor your age into your policy. Age is a correlation to a driver’s experience. Therefore, younger drivers are usually less experienced.
But how does Nationwide and State Farm calculate auto insurance based on age? Let’s review.
Nationwide vs. State Farm Auto Insurance Rates by Age
| Driver's Age | Nationwide Average Monthly Auto Insurance Rates | State Farm Average Monthly Auto Insurance Rates |
|---|---|---|
| 60-Year-Old Driver | $181 | $156 |
| 35-Year-Old Driver | $198 | $173 |
| 25-Year-Old Driver | $232 | $204 |
| 17-Year-Old Driver | $539 | $553 |
State Farm insurance is more affordable than Nationwide for drivers who are 25 years and older. However, drivers between 17 and 24 years old can save money if their parents have Nationwide insurance.
Nationwide vs. State Farm: Which company is cheapest by driving record?
Your driving record is a significant factor when determining auto insurance.
The question is: How do Nationwide and State Farm issue rates based on a motorist’s driving history? Let’s look at the sample rates now.
Nationwide vs. State Farm Auto Insurance Rates by Driving Record
| Driving Record Summary | Nationwide Average Monthly Auto Insurance Rates | State Farm Average Monthly Auto Insurance Rates |
|---|---|---|
| Clean Driving Record | $229 | $235 |
| With 1 Speeding Violation | $259 | $266 |
| With 1 Accident | $283 | $283 |
| With 1 DUI | $379 | $303 |
Nationwide car insurance has cheaper rates for speeding violations, but State Farm car insurance provides less expensive rates for DUI-convicted drivers.
Both companies charge the same amount for accidents on your driving record, which varies by state.
Nationwide vs. State Farm: Which company is cheapest by credit score?
Did you know car insurance companies issue cheaper rates to people with good or exceptional credit?
According to Experian, auto insurance companies charge cheaper rates to consumers with a good credit history because they’re less likely to file a claim.
Meanwhile, customers with fair or poor credit correlate to higher risks of filing claims. Those prices vary for each company.
Let’s look at how these costs are calculated at Nationwide and State Farm.
Nationwide vs. State Farm Auto Insurance Rates by Credit Scores
| Credit Score Summary | Nationwide Average Monthly Auto Insurance Rates | State Farm Average Monthly Auto Insurance Rates |
|---|---|---|
| Good Credit (670-739) | $244 | $181 |
| Fair Credit Score (580-669) | $271 | $238 |
| Poor Credit Score (300-579) | $340 | $413 |
State Farm is cheaper than Nationwide on all credit levels. If you happen to have a fair or poor credit score, State Farm is a cost-efficient option.
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Nationwide vs. State Farm: Which company has more coverage options?
You’ve seen how much you can pay for auto insurance, but what exactly do you pay for when getting a policy?
The most prominent auto insurance companies have several coverage options you can add to your policy. Let’s compare Nationwide and State Farm’s coverage options.
Nationwide vs. State Farm Auto Insurance Coverage Options
| Nationwide Auto Insurance Coverages | State Farm Auto Insurance Coverages |
|---|---|
| Bodily Injury Liability | Collision Coverage |
| Property Damage Liability | Comprehensive Coverage |
| Medical Payments coverage | Liability Coverage |
| Collision coverage | Car Rental and Travel Expenses Coverage |
| Comprehensive coverage | Uninsured &Underinsured Motorist Coverage |
| Uninsured & Underinsured Motorist Coverage | Medical Payments Coverage |
| Personal Injury Protection | Emergency Roadside Assistance |
| GAP Coverage | Rideshare Driver Coverage |
| Rental Car Expense | |
| Roadside Assistance | |
| Accident Forgiveness | |
| Vanishing Deductible | |
| Total Loss Deductible Waiver | |
| Towing and Labor Coverage |
State Farm may be cheaper, but Nationwide provides more coverage options. This may explain why Nationwide auto insurance rates are more expensive overall.
Read more: Roadside Assistance
Nationwide vs. State Farm Auto Insurance: Which company has more discounts?
When some of your factors generate higher auto insurance costs, discounts can slash prices a great deal. Let’s see which company has more opportunities to save money.
Comparing Nationwide and State Farm Auto Insurance Discounts
| Nationwide Discount Name | Nationwide Discount Values | State Farm Discount Name | State Farm Discount Values |
|---|---|---|---|
| Accident Forgiveness | Varies | Accident-Free Discount | 15% |
| Accident-Free Discount | Varies | Anti-lock Brake Discount | 20% |
| Affinity group discount | Varies | Anti-Theft Device Discount | 15% |
| Anti-Theft Device Discount | 5% | Claims Free Renewal Discount | Varies |
| Defensive Driver Discount | 10% | Daytime Running Lights Discount | Varies |
| Driving Habits Discount | Varies | Defensive Driver Discount | 5% |
| Family Discount | 25% | Driving Habits Discount | 30% |
| Farm Bureau Discount | 10% | Driving training discount | Varies |
| Good Driver Discount | 10% | Good Credit Discount | 80% |
| Good Student Discount | 15% | Good Driver Discount | 25% |
| Multiple Policy Discount | 25% | Good Student Discount | 25% |
| Multiple Vehicle Discount | 20% | Home Owner Discount | Varies |
| Organization Discount | 10% | Low Mileage Discount | 10% |
| Paperless documents discount | Varies | Loyalty Discount | Varies |
| Preferred payment discount | Varies | Mature driver discount | Varies |
| SmartRide discount | 10% | Military Discount | Varies |
| Multiple Policy Discount | 17% | ||
| Multiple Vehicle Discount | 20% | ||
| New Car Discount | 40% | ||
| Passive Restraint Discount | 40% | ||
| Senior Adult Discount | Varies | ||
| Student Away at School Discount | Varies | ||
| teenSMART Discount | 15% | ||
| Travelink Discount | Varies |
Part of State Farm’s low prices is due to the discounts it offers to customers. Also, you can see why Nationwide’s teen auto insurance is cheaper than State Farm’s.
No matter which company you go with, don’t forget to take advantage of any discounts available.
Read more: Farm Bureau Auto Insurance Review
Nationwide vs. State Farm: How can other insurance products get you more discounts?
If you’re thinking about comparing Nationwide vs. State Farm home insurance, it may be a good idea to bundle your car and home insurance together.
Bundling home insurance with auto insurance can save you about 12% or more.
What if you don’t own a home? You can still save by bundling renters insurance. Nationwide and State Farm have homeowners and renters insurance. However, Nationwide does not carry mobile home insurance.
Nationwide vs. State Farm Auto Insurance: Which company has better ratings?
Let’s dig a bit deeper before you buy a policy with either company. If you’ve searched recently, you probably saw a few star ratings or grades.
We’ve done some research and compiled those ratings for you.
Comparing Financial Strength and Credit Ratings of Nationwide and State Farm
| Agencies | Nationwide Ratings | State Farm Ratings |
|---|---|---|
| AM Best | A+ (Excellent) | A++ (Superior) |
| Better Business Bureau (BBB) | A | A+ |
| Moody's | A1 (Good) | Aa1 (Excellent) |
| S&P | A+ (Good) | AA (Excellent) |
| NAIC Complaint Index | 1.45 | 0.98 |
| J.D. Power - Power Circle Ratings | About Average | Better Than Most |
| Consumer Reports | 88 | 89 |
| Apple App Store (iOS) | 2 stars | 3 stars |
| Google Play Store (Android) | 3 stars | 4 stars |
Financial strength and credit ratings are behind some of the pros and cons of auto insurance companies. State Farm has better ratings overall, but Nationwide’s ratings are still considered excellent.
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Nationwide vs. State Farm Auto Insurance: What’s the bottom line?
State Farm provides cheaper car insurance and more discounts, but Nationwide has more coverage options. Therefore, Nationwide is best for multiple coverages, and State Farm is best for auto insurance costs.
Now that you know more about Nationwide vs. State Farm auto insurance, enter your ZIP code in the free online quote tool below to compare multiple companies.