Farmers and Nationwide are major carriers to consider when you’re shopping for a new car insurance policy. Continue reading for a comparison of coverage, price, discounts, and more. Check out our Farmers Car Insurance Review and Nationwide Car Insurance Review for more information about these two companies.
Auto Coverage Options from Farmers and Nationwide
Both Farmers and Nationwide are active in most of the United States and offer popular insurance coverage options:
Learn more about auto coverage products from our article on the common types of car insurance.
Additional Coverage
Additional features and products from Farmers and Nationwide may be available as add-ons to basic coverage. Some insurance products might not be available in every state.
- Roadside assistance and towing
- Rental car reimbursement
- Medical payments
While overall coverage options are comparable, check out these two notable differences:
- Farmers offers supplemental rideshare insurance. This option gives additional coverage when the driver’s status is “available for hire” through apps such as Lyft and Uber. Nationwide does not have this type of product.
- Nationwide offers guaranteed asset protection, commonly known as GAP insurance. This product covers the difference between your car’s value and what you owe on your car lease or loan. Farmers does not offer this coverage. However, Farmers offers replacement coverage for new vehicles in the first two years and within 24,000 miles.
Average Insurance Rates from Nationwide and Farmers
Many factors influence car insurance rates. Each person’s premium is unique because of factors that include their driving record, age, and creditworthiness. In general, Farmers’ premiums are higher than Nationwide’s rates. According to The Zebra, the average monthly premium from Farmers is $131. With Nationwide, the average policy costs $90 per month.
This table compares average annual premiums between Nationwide and Farmers by age tier.
| Age Group | Nationwide | Farmers |
| Teens | $3,624 | $6,518 |
| 20s | $1,582 | $2,020 |
| 30s | $1,582 | $2,020 |
| 40s | $1,151 | $1,511 |
| 50s | $1,114 | $1,507 |
| 60s | $1,028 | $1,402 |
Source: The Zebra
Premium Discounts from Farmers and Nationwide
One of the easiest discounts you can obtain from carriers is bundling auto insurance with home, renters, boat, motorcycle, or another insurance policy. Most insurers will encourage customers to take advantage of bundling their coverage. Be sure to ask about multi-policy and multi-vehicle bundling options through Nationwide and Farmers.
Policyholders with Farmers and Nationwide may be eligible for an array of auto insurance discounts and perks:
- New car replacement
- Accident forgiveness
- Auto/home bundling discount
- Safe driver discount
- Guaranteed repair
- Good student discount
Farmers offers a discount on coverage for alternative-fuel vehicles. If you choose Nationwide, be sure to ask about discounts for completing a defensive driving course.
Does Farmers or Nationwide Have Better Customer Satisfaction?
Finding a lower rate is a primary consideration for most insurance shoppers. Still, you should be sure that your car insurance company provides good customer service, quickly responds when you need help, and pays claims promptly.
A J.D. Power 2021 U.S. Auto Insurance Study provides insights into car insurance customer satisfaction in key areas:
- Auto insurance cost
- Policy offerings
- Billing process and policy information
- Customer interactions
- Claims
The survey results indicate Farmers customers’ opinions of and experiences with the company are rated “excellent.” Customer sentiment for Nationwide is “average.”
Which Has Better Financial Standing, Farmers or Nationwide?
An insurance company’s ability to meet its financial obligations is critical.
Financial strength assessments and ratings from A.M Best, Moody’s, and S&P indicate an insurance company’s ability to meet its financial obligations. According to The Zebra, Farmers boasts ‘”excellent” financial strength. Nationwide’s ratings indicate its strength is “superior.”
Farmers vs. Nationwide: Which is Better for You?
Deciding on the best car insurance company for you is a personal matter that requires many considerations. Your needs are unique, and you should request a quote from different insurance companies to get the exact cost of a policy and details of insurance products.
Both Farmers and Nationwide offer standard coverage that likely will suit your needs. Nationwide typically has lower rates. However, Farmers’ customer satisfaction ranks higher.
The cost of insurance is the primary concern for many drivers, but there are many factors you should examine. Above all, be sure that you understand the details of the coverage options you choose before renewing or signing a new insurance policy.
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