Farmers vs Nationwide Auto Insurance – Who is Cheaper?






If you are searching through the top insurance companies in the nation to find your next coverage provider – you’ve probably come across two of the most well-known companies: Farmers and Nationwide. Both of these insurance providers have grown from small, start-up companies into two of the most popular and most respected companies in the United States. Additionally, both of these providers got their start by providing insurance and other products and services to early farming communities. However, there are several differences between these two top providers – namely, the size of their staff, the type of financial services they offer and different prices for coverage. Keep reading as we compare these two companies to find out which option offers the cheapest rates for insurance.

Farmers and Nationwide: Products

Both of these providers started as insurance providers and later, expanded to provide other financial services, as well, such as, investment products and wealth management. There are several of these additional financial services that are provided through both companies including: homeowner’s insurance, life insurance, business insurance, loss prevention and safety & educational programs.

Farmers and Nationwide: Discounts

Both of these insurance providers offer similar discount programs to their policyholders. Some of the most common include: multi-policy discounts, safe driver discounts and student driver discounts. Farmers provides special discount programs to parents for teens who take driver’s education and teen driver safety programs. Nationwide is one of the few insurance options that provides programs such as, the Vanishing Deductible and Accident Forgiveness.

Farmers and Nationwide: Financial Outlook

Both Farmers and Nationwide have remained strong throughout difficult financial times. Even throughout our current recession – these companies continue to receive excellent ratings from A.M.’s Best, as well as, from their customers. Farmers claims that thousands of customers switch to their company each day and Nationwide says that 97 percent of their customer base was recommended to them by pre-existing customers.

Farmers and Nationwide: Differences

While these companies are very much the same, they have their differences, as well. Each company offers different types of financial services. While Farmers offers financial advice, mutual funds and variable annuities; Nationwide has expanded their financial services from just insurance to include financial planning, investment advice and full service banking. In order to meet the demand for their extensive financial service offerings – Nationwide also employs considerably more employees than Farmers does. Another difference between these two options is the price you’ll have to pay for insurance. While, these two choices are often, similar in price – there is always a cheaper option for you.

Overall, there are several different factors that play a role in who has cheaper rates between Farmers and Nationwide ranging from your location to the type of vehicle you drive. The only way to find out the difference is to compare rates. Farmers Group offers insurance to 41 states in the U.S., while Nationwide provides service, like the name says – nationwide, in all 50 states. Therefore, if you live in a state where Farmers Group provides coverage – you should get a price quote using identical details – either online or on the phone.


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