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State Farm vs. Nationwide Insurance
Which insurance company is right for you? Compare rates, coverage, and quotes from State Farm and Nationwide.
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State Farm vs. Nationwide: What You Need to Know
State Farm was founded in 1922 by George Jacob “G.J.” Mecherle, a retired farmer and insurance salesman. The code of conduct for the company has always been “to help people manage the risks of everyday life, recover from the unexpected and realize their dreams.” From the start, the company was branded as being “Like a good neighbor” and for “being there” for all State Farm customers. Fittingly, the State Farm agent in the television commercials is Patrick Minnis, a real State Farm insurance agent from Tempe, AZ. In 1971, Barry Manilow wrote the famous State Farm jingle that cemented the company’s brand as a helpful neighbor and Weezer covered the famous jingle in 2011.
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.
Below is a list of average rates, rankings, products, and discounts for the two companies. For full company overviews, you can visit State Farm Overview and Nationwide Overview.
State Farm vs. Nationwide: How much are the Average Rates?
Below is a list of the average rates that drivers typically pay with State Farm and Nationwide. On average, State Farm charges approximately $186.88 per month while Nationwide comes in at around $165.67 per month. For State Farm, the cheapest state average is Tennessee at $80.56 per month and the most expensive is Michigan at $227.83 per month. For Nationwide, the cheapest state average is Florida at $3.99 per month and the most expensive is California at $207.36 per month.
Average Rate
Average Rate
Average Rate
| State | State Farm | Nationwide |
|---|---|---|
| Arizona | $136.35 | $82.40 |
| California | $184.10 | $207.36 |
| Florida | $141.81 | $3.99 |
| Georgia | $135.15 | $72.01 |
| Illinois | $80.59 | $66.88 |
| Maryland | - | $186.32 |
| Michigan | $227.83 | $70.29 |
| Missouri | - | $119.38 |
| Nevada | $136.52 | $168.72 |
| New Jersey | $159.33 | - |
| New York | $185.29 | $195.59 |
| North Carolina | - | $73.49 |
| Ohio | - | $59.61 |
| Oregon | - | $76.98 |
| Pennsylvania | $101.80 | $69.23 |
| South Carolina | - | $57.94 |
| Tennessee | $80.56 | $72.56 |
| Texas | $103.12 | $81.82 |
| Washington | $117.32 | $158.62 |
State Farm vs. Nationwide: Rates by Number of Vehicle
Drivers will typically get a discount if they insure multiple vehicles. Here is a list of average rates that State Farm and Nationwide typically charge for drivers who have more than 1 vehicle.
| Number of Vehicles | State Farm | Nationwide |
|---|---|---|
| 1 Vehicle | $180.55 | $166.22 |
| 2 Vehicles | $245.80 | $165.69 |
State Farm vs. Nationwide: Rates by Homeownership
Drivers who own their home rather than rent can sometimes get a small discount. We found that on average State Farm charges $180.65 per month and Nationwide charges $76.19 per month for customers who own their home.
| Own/Rent | State Farm | Nationwide |
|---|---|---|
| Own | $180.65 | $76.19 |
| Rent | $188.22 | $202.38 |
What is State Farm and Nationwide Insurance Rating?
Which car insurance company is better? We've made it easy to compare companies side by side. See how State Farm and Nationwide ranked among the industry ratings.
| Comparison | State Farm | Nationwide |
|---|---|---|
| Year Founded | 1922 | 1925 |
| Market Share | 10.1% | 2.7% |
| A.M. Best Rating | A+ | |
| BBB Rating | NR | A+ |
| Financial Strength | Excellent | Excellent |
| JD Power Ranking | About Average | About Average |
| Moody’s Rating | A | A1 |
| NAIC Complaint Index | 2.58 | 0.38 |
| S&P Rating | AA | A+ |
State Farm or Nationwide: Insurance Products Offered
What coverage is available through State Farm and Nationwide? Both insurance companies offer Auto, Commercial, Health, Home, Life, Motorcycle, and RV insurance. Additional products from State Farm insurance also includes Condo and Renters insurance. Considering these two top insurance providers? Check out the list below. To view a full list of products that are available, visit State Farm and Nationwide Insurance page.
| Insurance | State Farm | Nationwide |
|---|---|---|
| Auto Insurance | ✔ | ✔ |
| Commercial Insurance | ✔ | ✔ |
| Condo Insurance | ✔ | |
| Farm Insurance | ✔ | |
| Health Insurance | ✔ | ✔ |
| Home Insurance | ✔ | ✔ |
| Life Insurance | ✔ | ✔ |
| Motorcycle Insurance | ✔ | ✔ |
| Pet Insurance | ✔ | |
| Renters Insurance | ✔ | |
| RV Insurance | ✔ | ✔ |
State Farm or Nationwide: Ways To Save
State Farm offers a wide range of discounts to its policyholders, including Anti-theft, Defensive Driving, and Good Driving discounts. However, Nationwide also offers a few discounts that State Farm doesn’t, including SmartRide, Passive Occupant Restraint, and Paperless Documents discounts. Start taking advantage of discounts offered by insurance providers like Nationwide and State Farm insurance and save yourself some money. You can review the full list of discounts that these two companies offer below.
| State Farm | Nationwide |
|---|---|
| Accident-Free Discount | Accident-free Discount |
| Anti-theft Discount | Advance Quote Discount |
| Defensive Driving Discount | Affinity Car Insurance Discounts |
| Good Driving Discount | Anti-theft Discount |
| Multiple Auto Discount | Defensive Driving Discount |
| Multiple Line Discount | Easy Pay Discount |
| Passive Restraint Discount | Farm Bureau Discount |
| Safe Driver Discounts | Good Student Discount |
| Student Away at School Discount | Long-term Policyholder Discount |
| Vehicle Safety Discount | Multi-policy Discount |
| Nationwide Family Plan | |
| New Vehicle | |
| Paperless Documents | |
| Passive Occupant Restraint Discount | |
| SmartRide Discount |
Pros & Cons of State Farm & Nationwide
Pros
State Farm
- State Farm is the largest auto insurer in the U.S and offers insurance in all states.
- There are more than 19,000 captive agents across the country so it’s easy to find an agent in your area.
- State Farm offers a range of insurance packages and is the #1 insurer for watercraft.
- The State Farm app is an award-winning tool for managing your insurance and bank account.
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 the workmanship on repairs.
- Vanishing deductible.
Cons
State Farm
- State Farm does not offer accident forgiveness options.
Nationwide
State Farm or Nationwide Mobile Apps Options
The State Farm Mobile app is available for iOS and Android. This award-winning mobile app can help manage insurance and banking accounts, request roadside service, file and track claims and pay bills.
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.
| State Farm Mobile App | ||
|---|---|---|
| iOS | 4.8 | 15K user reviews |
| Android | 4.1 | 16K user reviews |
| Nationwide Mobile App | ||
|---|---|---|
| iOS | 3.6 | 3K user reviews |
| Android | 4.3 | 1.4K user reviews |
State Farm & Nationwide Contact Info
| State Farm Contact Info | |
|---|---|
| Address | One State Farm Plaza, Bloomington, IL 61710 |
| Phone | 1-800-732-5246 |
| Website | https://www.statefarm.com |
| https://www.facebook.com/statefarm | |
| https://twitter.com/statefarm | |
| Youtube | https://www.youtube.com/statefarm |
| https://www.linkedin.com/company/state_farm/ | |
| Nationwide Contact Info | |
|---|---|
| Address | P.O. Box 742522, Cincinnati, OH 45274-2522 |
| Phone | 1-877-669-6877 |
| Website | https://www.Nationwide.com |
| https://www.facebook.com/nationwide/ | |
| https://twitter.com/Nationwide | |
| Youtube | https://www.youtube.com/channel/nationwide |
| https://www.linkedin.com/company/nationwide/ | |
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.
Fran Majidi manages content on SmartFinancial's website. She's had nearly a decade's worth of experience writing about insurance-related topics. Prior, she was an arts and entertainment editor in New York City. She has a B.A. from Barnard College and an M.F.A. in writing from The New School. She writes books under her given name, Afarin Majidi.
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