Nationwide vs. Farmers Insurance

Which insurance carrier is right for you? Compare insights, cost, and quotes from Nationwide and Farmers.

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Nationwide vs. Farmers: What You Need to Know

Murray D. Lincoln formed the company the Farm Bureau Mutual Automobile Insurance Company with the goal of selling auto insurance at low rates for farmers in Ohio. In 1926, the first policy was sold. In 1928, Farm Bureau Mutual begins to expand into other states including West Virginia, Maryland, Delaware, Vermont, and North Carolina. By 1934, the company was insuring motorists in metropolitan areas and writing property insurance policies too and by 1943 was operating in 12 states and the District of Columbia. It was in 1955 that the company changed its name to nationwide, with an expansion into 20 new states. In 1982, Nationwide acquires a 100-year-old company and America’s leading farm insurer and goes public in 1997. In the year 2000, the Nationwide Arena opens and becomes home to a National Hockey League franchise, the Columbus Blue Jackets. In 2007, the Nationwide Bank opens. Today, Nationwide is a Fortune 100 company with a full range of insurance and financial services across the country, including car, motorcycle, boat, homeowners, pet, farm, life and commercial insurance, annuities, mortgages, mutual funds, pensions, long-term savings plans and specific health services.

Farmers Insurance began selling insurance a year before the Great Depression and survived to become a household name. Founders John C. Tyler and Thomas E. Leavey started off by going farm to farm to gain their first policies. They specifically lowered rates for farmers and ranchers because they understood that these occupations posed fewer risks with their vehicles. By 1928, they were able to open an office in downtown Los Angeles. During the Great Depression, Farmers was one of the few companies that were able to pay claims. When a devastating earthquake hit Los Angeles, Farmers paid out claims for damaged cars and became the first insurance company to offer comprehensive insurance.

Below is a list of average rates, rankings, products and discounts for the two companies. For full company overviews, you can visit Nationwide Overview and Farmers Overview.

Nationwide vs. Farmers: How much are the Average Rates?

Below is a list of the average rates that drivers typically pay with Nationwide and Farmers. On average, Nationwide charges approximately $213.12 per month while Farmers comes in at around $287.68 per month. For Nationwide, the cheapest state average is North Carolina at $95.86 per month and the most expensive is New York at $338.81 per month. For Farmers, the cheapest state average is North Dakota at $119.80 per month and the most expensive is Michigan at $791.52 per month.

Nationwide

Average Rate

$213.12
Farmers

Average Rate

$287.68
National

Average Rate

$119.16
State Nationwide Farmers
Alabama $141.67 $201.23
Arizona $214.50 $265.83
Arkansas $134.18 $190.00
California $260.81 $259.01
Colorado $179.92 $304.62
Connecticut $186.61 -
Delaware $181.17 -
District of Columbia $236.59 -
Georgia $182.05 -
Idaho $129.66 $123.44
Illinois $152.46 $209.20
Indiana $131.11 $135.50
Iowa $110.51 $143.95
Kansas $139.27 $186.15
Kentucky $249.99 -
Maryland $211.18 -
Michigan $335.17 $791.52
Minnesota $191.66 $172.10
Mississippi $145.35 -
Missouri $176.60 $212.55
Montana- $201.16
Nebraska $129.45 $191.65
Nevada $335.39 $306.01
New Hampshire $131.82 -
New Mexico- $202.44
New York $338.81 -
North Carolina $95.86 -
North Dakota- $119.80
Ohio $121.67 $152.11
Oklahoma- $171.70
Oregon $134.52 $174.94
Pennsylvania $133.51 -
Rhode Island $227.19 -
South Carolina $142.41 -
South Dakota- $124.86
Tennessee $156.90 $164.93
Texas $239.64 -
Utah $140.29 $215.10
Vermont $105.19 -
Virginia $154.14 -
Washington $138.38 $155.85
West Virginia $199.87 -
Wisconsin $111.11 $171.67
Wyoming- $200.59

Nationwide vs. Farmers: Rates by Number of Vehicle

Home

Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that Nationwide and Farmers typically charge for drivers who have more than 1 vehicle.

Number of Vehicles Nationwide Farmers
1 Vehicle $198.72 $267.73
2 Vehicles $261.59 $346.87
4 Vehicles $375.66 $807.21
3 Vehicles $418.63 $650.04

Nationwide vs. Farmers: Rates by Homeownership

Home

Drivers who own their home rather than rent can sometimes get a small discount. We found that on average Nationwide charges $194.92 per month and Farmers charges $286.65 per month for customers who own their home.

Own/Rent Nationwide Farmers
Own $194.92 $286.65
Rent $221.79 $288.22

What is Nationwide and Farmers Insurance Rating?

Which car insurance company is better? We've made it easy to compare companies side by side. See how Nationwide and Farmers ranked among the industry ratings.

Comparison Nationwide Farmers
Year Founded 1925 1928
Market Share 2.7% 3%
A.M. Best A+ A-
BBB Rating A+ A+
Financial Strength Excellent Excellent
JD Power Ranking About Average About Average
Moody’s Rating A1 A2
NAIC Complaint Index 0.38 0.8
S&P Rating A+ A

Nationwide or Farmers: Insurance Products Offered

What coverage is available through Nationwide and Farmers? Both insurance companies offer Auto, Commercial, Home, Life, Motorcycle, and RV Insurance. Additional products from Nationwide insurance also includes Farm, Health, Pet, and Umbrella Insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit Nationwide and Farmers Insurance page.

Insurance Nationwide Farmers
Auto Insurance
Commercial Insurance
Farm Insurance
Health Insurance
Home Insurance
Life Insurance
Motorcycle Insurance
Pet Insurance
RV Insurance
Umbrella Insurance

Nationwide or Farmers: Ways To Save

Farmers offers a wide range of discounts to its policyholders, including Distant Student, Electronic Funds Transfer (EFT), and Good Student discounts. Nationwide also offers a few discounts that Farmers doesn’t including SmartRide, Passive Occupant Restraint, and Paperless Documents discounts. Start taking advantage of discounts offered by insurance providers like Farmers and Nationwide insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.

NationwideFarmers
Accident-free DiscountAlternative Fuel Discount
Advance Quote DiscountDistant Student
Affinity Car Insurance DiscountsElectronic Funds Transfer (EFT) Discount
Anti-theft DiscountGood Student
Defensive Driving DiscountHomeowner Discount
Easy Pay DiscountMulti-Car Discount
Farm Bureau DiscountMulti-policy Discount
Good Student DiscountOccupational Discount
Long-term Policyholder DiscountPay-in-Full Discount
Multi-policy DiscountTeen Driver Discount
Nationwide Family PlanTransfer Discount
New Vehicle
Paperless Documents
Passive Occupant Restraint Discount
SmartRide Discount

Pros & Cons of Nationwide & Farmers

Pros

Nationwide
  • Up to 20% off when you bundle home, auto, life and other policies with Nationwide.
  • Big savings for safe driving history.
  • On Your Side Auto Repair Network guarantees workmanship on repairs.
  • Vanishing deductible.
Farmers
  • Financial strength
  • Great employee education and customer service.

Cons

Nationwide
  • High rates for people with an imperfect driving history.
  • Credit check in most states.
Farmers
  • Steep early-cancellation fees.

Nationwide or Farmers Mobile Apps Options

The Nationwide Mobile App for Android, iPhone and iPad lets you access accounts on the go. The app features fingerprint and facial login to a dashboard where you make payments, manage payment methods and save or share ID cards with drivers on your policy. You can also file a claim and check on its status. The app comes fully equipped to connect with roadside assistance too.

The Farmers app is available for iOS and Android. The Farmers Mobile App allows you access to self-service features.

Nationwide Mobile App
iOS     3.63K user reviews
Android     4.31.4K user reviews
Farmers Mobile App
iOS     4.83K user reviews
Android     43K user reviews

Nationwide & Farmers Contact Info

Nationwide Contact Info
Address P.O. Box 742522, Cincinnati, OH 45274-2522
Phone 1-877-669-6877
Website https://www.Nationwide.com
Facebook https://www.facebook.com/nationwide/
Twitter https://twitter.com/Nationwide
Youtube https://www.youtube.com/channel/nationwide
Linkedin https://www.linkedin.com/company/nationwide/
Farmers Contact Info
Address 6301 Owensmouth Avenue, Woodland Hills, CA 91367
Phone 1 (800) 974-6755
Website https://www.Farmers.com
Facebook https://www.facebook.com/FarmersInsurance/
Twitter https://twitter.com/WeAreFarmers
Youtube https://www.youtube.com/farmersinsurance
Linkedin https://www.linkedin.com/company/farmers-insurance/

Methodology
The statistics listed on this page are from our own in house reporting. We track and record quotes that carriers have provided based on various criteria. The rates and averages shown on this page should only be used as an estimate.

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