Farmers vs. Nationwide Auto Insurance (2023)
Choosing between Farmers vs. Nationwide auto insurance is difficult, so compare Farmers vs. Nationwide cars insurance rates by age, driving record, and credit score to find the best policy for you. Overall, Nationwide offers cheaper rates and stronger financial ratings, but Farmers Insurance boasts more positive customer reviews.
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Eric Stauffer is an insurance agent and banker-turned-consumer advocate. His priority is educating individuals and families about the different types of insurance coverage. He is passionate about helping consumers find the best coverage for their budgets and personal needs. Eric is the CEO of C Street Media, a full-service marketing firm and the co-founder of ProperCents.com, a financial educat...
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UPDATED: Nov 27, 2023
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- Nationwide has cheaper average auto insurance rates than Farmers
- Nationwide has a better financial rating than Farmers, but both have an A+ rating from the Better Business Bureau (BBB)
- Farmers rated about average in customer satisfaction, and Nationwide rated at or below average in each region
Both Farmers and Nationwide are on the list of the top 10 best auto insurance companies, but which company is the best option based for you?
We’ll compare Farmers vs. Nationwide auto insurance based on age, driving record, and credit history to see which one better suits your needs.
We also compare available discounts and ratings from agencies with a credible and trustworthy view of Farmers vs. Nationwide auto insurance companies.
Looking for affordable Farmers vs. Nationwide auto insurance quotes? Enter your ZIP code to start comparing quotes from multiple companies in your area.
Is Farmers auto insurance or Nationwide auto insurance cheaper?
You might be surprised to learn how that there are many factors that affect your auto insurance rates. These include your age, gender, ZIP code, driving history, and credit score.
These factors will determine how affordable Farmers vs. Nationwide auto insurance is for you. Since everyone is different, rates will vary.
First, we’ll look at Farmers vs. Nationwide auto insurance rates by demographics. We all know that auto insurance for teens and young drivers will come with higher insurance rates, so let’s take a look at how much age influences your auto insurance rates.
|Age, Gender, and Marital Status||Farmers Average Annual Rates||Nationwide Average Annual Rates|
|Single 17-year-old female||$8,666.24||$5,431.46|
|Single 17-year-old male||$9,202.06||$6,815.00|
|Single 25-year-old female||$2,672.81||$2,431.91|
|Single 25-year old male||$2,791.21||$2,739.66|
|Married 35-year-old female||$2,316.82||$2,202.69|
|Married 35-year-old male||$2,306.44||$2,214.18|
|Married 60-year-old female||$2,117.42||$1,987.35|
|Married 60-year-old male||$2,179.61||$2,005.06|
Nationwide car insurance is cheaper than Farmers no matter your age, gender, or marital status.
Another important factor that auto insurance companies consider when calculating your rates is your driving record. When you need auto insurance after an accident, auto insurance after a speeding ticket, or auto insurance with a DUI on your record, you’ll pay more for your insurance than if you have a clean driving record.
|Driving Record||Farmers Average Annual Rates||Nationwide Average Annual Rates|
|With 1 accident||$4,518.73||$3,396.95|
|With 1 DUI||$4,718.75||$4,543.20|
|With 1 speeding violation||$4,079.01||$3,113.68|
Farmers is more expensive than Nationwide whether you have a clean record, an accident, a speeding ticket, or a DUI.
You may also be surprised to learn that your credit score has an impact on your auto insurance rates. Insurance companies use credit scores because they believe that if you have a higher credit score, you are less likely to file a claim and more likely to pay for damages out of pocket.
|Credit History||Farmers Average Annual Rates||Nationwide Average Annual Rates|
Yet again, Nationwide is cheaper across the board.
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Does Farmers or Nationwide have better auto insurance discounts?
If you add car insurance discounts to your policy, you can save a lot of money. Most companies provide discounts based on the number of cars you own, your occupation, and how safely you drive.
This table lists the Farmers auto insurance discounts and Nationwide auto insurance discounts that are available. If the discount amount is known, it is factored in. Take a look and see which company offers you the best deals.
|Car Insurance Discounts||Farmers (%)||Nationwide (%)|
|Adaptive Cruise Control||N/A||x|
|Daytime Running Lights||x||5|
|Electronic Stability Control||x||x|
|Forward Collision Warning||N/A||x|
|Lane Departure Warning||N/A||x|
|Students & Alumni||N/A||7|
Both companies offer a lot of discounts and some are only offered at one company. For example, Farmers offers a continuous coverage discount and Nationwide doesn’t, whereas Nationwide offers a loyalty discount that Farmers doesn’t.
As you compare Farmers vs. Nationwide auto insurance quotes, be sure to ask for any discounts you are eligible for.
How do Farmers and Nationwide compare in financial strength and customer satisfaction?
A.M. Best ranks companies based on how financially stable they are. Farmers received an A rating, meaning it has an excellent ability to meet its obligations. Nationwide scored an A+, showing it has a superior ability to meet financial obligations.
Both companies also received an A+ rating from the Better Business Bureau, and both are accredited.
J.D. Power ranked Farmers and Nationwide on customer satisfaction, including prices, billing, claims, and what is offered. Farmers scored about average in most regions of the U.S., and Nationwide either scored average or below average in each region. The complaint volume for Nationwide insurance claims is very low.
Each company has an easy-to-use website and mobile app where customers can access their accounts, make payments, and even file Farmers insurance claims or Nationwide claims easily. Usually, your Farmers insurance login or Nationwide login would likely be the same in the company’s general app and driving app.
Farmers and Nationwide roadside assistance are also available. You can even get Nationwide farm insurance.
Before you choose between Farmers vs. Nationwide auto insurance, enter your ZIP code to start comparing multiple auto insurance companies in your area.
Frequently Asked Questions
What are the main differences between Farmers and Nationwide auto insurance?
Farmers and Nationwide are both well-known insurance providers offering auto insurance coverage. While there are similarities between the two, there are also some notable differences. Here are the main distinctions:
- Coverage options: Farmers and Nationwide provide similar standard auto insurance coverage, including liability, collision, and comprehensive coverage. However, the specific details and additional coverage options may vary between the two companies. It is recommended to review the policy details for each insurer to determine the coverage that suits your needs.
- Pricing: Insurance premiums can vary based on several factors, such as your location, driving history, and the type of vehicle you own. Farmers and Nationwide use different rating systems and algorithms to calculate premiums, so the cost of coverage can differ between the two companies. It is advisable to obtain quotes from both insurers to compare prices accurately.
- Discounts and benefits: Both Farmers and Nationwide offer various discounts to policyholders. These discounts can include safe driver discounts, multi-policy discounts, and good student discounts. However, the specific discounts and benefits available may differ. It is recommended to inquire about the discounts each company offers to determine which one aligns with your eligibility and can provide the most cost savings.
- Customer service and satisfaction: Customer service is an essential aspect of any insurance provider. While experiences may vary, Farmers and Nationwide both have customer service departments to assist policyholders with claims, policy inquiries, and other concerns. It can be helpful to research customer reviews and ratings to gauge overall satisfaction levels with each company’s service.
How do I choose between Farmers and Nationwide auto insurance?
Choosing between Farmers and Nationwide auto insurance depends on several factors, including your specific needs, budget, and preferences. Here are some steps to help you make an informed decision:
- Assess your coverage needs: Determine the types and levels of coverage you require for your auto insurance policy. Consider factors such as the value of your vehicle, your driving habits, and any additional coverage options you may need, such as roadside assistance or rental car reimbursement.
- Obtain quotes: Contact both Farmers and Nationwide to request insurance quotes based on your coverage needs. Compare the premiums and policy details to understand the costs and benefits associated with each insurer. Be sure to provide accurate and consistent information to receive accurate quotes.
- Evaluate discounts: Inquire about the available discounts offered by both insurers and assess which ones you may qualify for. Consider the potential savings each discount can provide and factor them into your decision-making process.
- Research customer satisfaction: Look for customer reviews and ratings of Farmers and Nationwide to gauge the overall satisfaction levels with each company’s service. Consider factors such as claims processing efficiency, customer support, and overall customer experiences.
- Seek recommendations: Ask friends, family, or trusted advisors if they have any personal experiences or recommendations regarding Farmers or Nationwide Auto Insurance. Their insights can provide additional perspective and help inform your decision.
- Compare policy terms: Review the policy terms and conditions of both insurers carefully. Pay attention to details such as coverage limits, deductibles, and any exclusions that may apply to your specific circumstances. Ensure that the policy you choose aligns with your needs and provides adequate coverage.
- Consider financial stability: Assess the financial stability and reputation of both insurers. A financially stable company is better equipped to handle claims and provide reliable coverage over the long term.
Are there any notable features or unique offerings that set Farmers and Nationwide auto insurance apart from each other?
Yes, both Farmers and Nationwide have certain features and unique offerings that differentiate them from one another. Here are some notable distinctions:
Farmers Auto Insurance:
- Signal® app: Farmers offers the Signal app, which allows policyholders to potentially earn discounts based on their driving behavior. The app tracks various driving factors, such as speed, braking, and mileage, to provide personalized insights and rewards safe driving habits.
- Customizable coverage: Farmers provides customizable coverage options, allowing policyholders to tailor their auto insurance policies to their specific needs. This flexibility enables customers to adjust coverage limits, deductibles, and additional options according to their preferences.
- Claims services: Farmers offers 24/7 claims reporting and support, making it convenient for policyholders to report accidents and initiate the claims process at any time. They also have a network of approved repair shops to streamline the repair process for insured vehicles.
Nationwide Auto Insurance:
- Vanishing Deductible®: Nationwide offers the Vanishing Deductible program, which reduces the policyholder’s deductible amount for each year of safe driving. This feature allows policyholders to save on their out-of-pocket expenses in the event of a claim.
- SmartRide® program: Nationwide provides the SmartRide program, which utilizes telematics technology to monitor driving habits and potentially earn discounts. By participating in this program, policyholders can receive personalized feedback on their driving behavior and earn rewards for safe driving.
- On Your Side® Claims Service: Nationwide’s On Your Side Claims Service aims to provide a hassle-free claims experience. They offer features such as convenient claims filing, guaranteed repairs, and the option for virtual appraisals to simplify the claims process for policyholders.
Do Farmers and Nationwide offer any additional insurance products besides auto insurance?
Yes, both Farmers and Nationwide offer a range of insurance products beyond auto insurance. Here are some examples:
- Homeowners insurance: Farmers provides coverage for homeowners, including dwelling protection, personal property coverage, and liability protection. They also offer optional coverages such as earthquake insurance and identity theft protection.
- Renters insurance: Farmers offers renters insurance to protect tenants’ personal belongings and provide liability coverage in case of accidents or damages within their rented property.
- Life insurance: Farmers provides various life insurance options, including term life, whole life, and universal life insurance policies. These policies offer financial protection and benefits to policyholders and their beneficiaries.
- Homeowners insurance: Nationwide offers homeowners insurance coverage, including protection for the structure, personal belongings, and liability. They also provide additional coverage options such as flood insurance and identity theft coverage.
- Renters insurance: Nationwide provides renters insurance to protect tenants’ personal property and offer liability coverage in case of accidents or damages.
- Life insurance: Nationwide offers a range of life insurance products, including term life, whole life, and universal life insurance. These policies provide financial security and protection for policyholders and their loved ones.
Does either Farmers or Nationwide offer additional perks or benefits with their auto insurance?
Farmers and Nationwide may offer additional perks or benefits to enhance their auto insurance policies. These can vary, but here are a few examples:
- Roadside assistance: Both insurers may offer optional roadside assistance coverage, which can provide services like towing, fuel delivery, and lockout assistance.
- Vanishing deductible: Farmers offers a feature called “Vanishing Deductible,” where your deductible reduces over time for every claim-free policy period.
- Accident forgiveness: Nationwide has an accident forgiveness program that forgives the first accident on your policy, preventing an increase in your rates.
Can I bundle other insurance policies with my auto insurance from Farmers or Nationwide?
Yes, both Farmers and Nationwide offer the ability to bundle other insurance policies with your auto insurance, which can often lead to cost savings. By combining multiple policies, such as homeowners or renters insurance, with your auto insurance, you may be eligible for a multi-policy discount. It’s advisable to contact each insurer and inquire about the available bundling options and potential discounts to determine the most advantageous choice for your insurance needs.
Do Farmers and Nationwide offer usage-based or telematics programs?
Yes, both Farmers and Nationwide offer usage-based or telematics programs that can potentially result in discounted premiums based on your driving behavior. Farmers has a program called “Signal” that utilizes a mobile app to track your driving habits, such as speed, braking, and mileage.
Nationwide has a program called “SmartRide” that uses a device plugged into your vehicle’s diagnostic port or a mobile app to monitor driving habits. These programs allow the insurers to assess your risk profile more accurately and reward safe driving habits with potential premium discounts.
Can I get an auto insurance quote from Farmers and Nationwide without committing to a policy?
Yes, both Farmers and Nationwide allow you to request auto insurance quotes without any commitment to purchasing a policy. You can contact their respective customer service or visit their websites to provide the necessary information for a quote. It’s recommended to provide accurate and consistent information to receive the most accurate quotes.
Are there any notable differences in the optional coverage offerings between Farmers and Nationwide?
While both Farmers and Nationwide offer optional coverage to enhance your auto insurance, there may be differences in the specific options available. Some common optional coverages you may find with these insurers include:
- Rental car reimbursement: This coverage helps pay for a rental car while your insured vehicle is being repaired due to a covered claim.
- GAP insurance: If your vehicle is leased or financed, GAP insurance covers the difference between the vehicle’s actual cash value and the amount you owe on your loan or lease in the event of a total loss.
- New car replacement: This coverage replaces your totaled vehicle with a brand new car of the same make and model if it’s less than a certain number of years old.
Can I switch from Farmers to Nationwide or vice versa mid-policy term?
Yes, it is generally possible to switch insurers from Farmers to Nationwide or vice versa mid-policy term. However, it’s essential to consider a few factors:
- Policy cancellation: If you decide to switch, you will need to cancel your current policy with one insurer. Be aware of any cancellation fees or penalties that may apply.
- Seamless transition: When switching insurers, it’s crucial to ensure that you have continuous coverage without any gaps. Coordinate the start date of your new policy with the cancellation date of your existing policy to avoid any lapses in coverage.
- Pro-rated refunds or charges: Depending on the timing of the switch, you may be eligible for a pro-rated refund of unused premium from your current insurer or need to pay a pro-rated premium to your new insurer. Be sure to inquire about the financial implications of switching mid-policy term.