State Farm vs Nationwide
State Farm is the cheaper of these two on the published averages. Whether that makes it the better buy depends on three things the price never tells you.
The verdict
State Farm takes it, 2–1 on rounds.
On averages State Farm is cheaper by about $494 a year — but get your own quote from both, because the published averages disagree with each other by nearly as much as they differ from one another.
Choose State Farm if…
- • You want State Farm's lower average rate
- • You want a telematics programme that cannot raise your rate
Choose Nationwide if…
- • You want Nationwide's particular strengths
- • You want a telematics programme that cannot raise your rate
Round by round
- Round 1What you actually payState Farm winsState Farm9/10
$2,030
average annual full-coverage premium
- Cheaper on the published averages
- Figures from independent rate studies
- Your own quote may differ sharply
Source: https://www.usnews.com/insurance/auto/cheapest-car-insurance-companies
Nationwide5/10$2,524
average annual full-coverage premium
- Rates vary widely by driver
- Figures from independent rate studies
- About $494/yr more on average
Source: https://www.usnews.com/insurance/auto/cheapest-car-insurance-companies
About $494 a year apart — and State Farm is the cheaper one.
- Round 2Being tracked for a discountState Farm winsState Farm8/10
30% max
Drive Safe & Save — discount only, never an increase
- Cannot be used to raise your rate
- Opt-in
- Advertised maximum is rarely reached
- Typical real saving is nearer 10%
Source: https://www.insuremojo.com/telematics-insurance-discount-programs/
Nationwide8/1040% max
SmartRide — discount only, never an increase
- Cannot be used to raise your rate
- Opt-in
- Advertised maximum is rarely reached
- Typical real saving is nearer 10%
Source: https://www.insuremojo.com/telematics-insurance-discount-programs/
State Farm can only discount you. The other one can charge you more.
- Round 3What happens when you claimNationwide winsState Farm6/10
no standout record
nothing notable in the published studies
- Large enough to have a mature claims operation
- Not a leader on claims satisfaction
Source: https://www.jdpower.com/business/insurance/auto-claims-satisfaction-study
Nationwide8/10clean complaint record
among the cleanest NAIC complaint records
- Among the better records on the public data
Source: https://www.carinsurance.com/trends-and-insights/auto-insurers-ranked-by-naic-complaint-data/
The cheap ones are rarely the ones you want on the phone after a crash.
- Round 4Size, reach and who you deal withTieState Farm7/10
largest auto insurer in the US, agent-based
market position
- Established national carrier
Source: https://www.usnews.com/insurance/auto/cheapest-car-insurance-companies
Nationwide7/10major national insurer
market position
- Established national carrier
Source: https://www.usnews.com/insurance/auto/cheapest-car-insurance-companies
Both are big enough to pay a claim. That is the floor, not a feature.
State Farm
NationwideSide by side
- Rates vary widely by driver
- Figures from independent rate studies
- Anyone can buy it
- Established national carrier
- Rates vary widely by driver
- Figures from independent rate studies
- Cannot be used to raise your rate
- Opt-in
- About $497/yr more on average
- Advertised maximum is rarely reached
- Typical real saving is nearer 10%
- Not a leader on claims satisfaction
- About $494/yr more on average
- Advertised maximum is rarely reached
- Typical real saving is nearer 10%
- About $464/yr more on average