Compare Nationwide vs. GEICO: Quotes, Discounts (2023)

Nationwide vs. GEICO: A Summary

Drivers who need a new car insurance policy should consider comparing insurance providers such as Nationwide and GEICO. Between the two, GEICO has much lower rates on average than Nationwide, but both do exceptionally well on the Insurify Composite Score.

See how the two insurance companies compare in the table below.

ICS Score Explanation:

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Nationwide

While Nationwide isn’t the cheapest car insurance provider, it does rank highly for customer services, claims satisfaction, and overall customer happiness.

Along with high customer satisfaction scores, the company also offers a wide range of auto insurance products, including add-ons such as gap insurance and accident forgiveness.

Overall, an auto insurance policy from Nationwide is an excellent choice for anyone looking for car insurance coverage.

GEICO

Drivers looking for an insurance provider that offers coverage online without the need for a local agent should consider GEICO. As one of the largest auto insurance companies in the country, GEICO does most of its business online. It offers a robust mobile app that makes the quoting process easy for motorists.

The company is also known for affordable rates, with most of its quotes coming in below the national average. With a long list of coverage options and discounts, GEICO is one company that should be on your list when shopping for car insurance.

External Financial Strength Ratings

Both GEICO and Nationwide scored well on their financial strength ratings. However, GEICO did better in most categories and scored higher on rankings provided by A.M. Best and J.D. Power.

The Best Car Insurance Companies in 2022

Most drivers want to select the best car insurance company when purchasing their auto policy. However, no one company is the best at everything. While Nationwide made it to our list of the best car insurance companies, GEICO might have a better deal for certain drivers. The key is to compare quotes from both companies on Insurify to make sure you’re going with the company that’s best for you.

Compare Nationwide vs. GEICO: Which Is Cheaper?

Between Nationwide and GEICO, drivers can find the cheapest rates at GEICO. The company has the lowest average rate for standard coverage and coverage for subgroups compared to Nationwide.

The Cheapest Car Insurance Companies in 2022

While Nationwide isn’t typically the cheapest, it makes up for it by providing exceptional customer services. On the other hand, GEICO has competitive rates for most subgroups and often the cheapest rates for drivers with poor credit scores.

Compare Nationwide vs. GEICO Car Insurance by Age

One factor that insurance companies often use to determine rates is a driver’s age. Generally, the younger a driver is, the more they have to pay in monthly premiums. The reason for the increased rates is due to the lack of experience a teenage driver has compared to a driver in their 30s or 40s.

Both Nationwide and GEICO follow this trend, as 18-year-olds pay two and three times more for coverage than their older counterparts. However, the good news for young drivers is that GEICO offers some of the best rates in the industry, with an average price of $113 a month.

Compare Nationwide vs. GEICO Car Insurance by Gender

Motorists usually aren’t aware that gender can play a role in determining how much you pay each month for auto insurance. While the difference isn’t generally more than $10, men could pay $100 more annually for coverage than women.

When looking at Nationwide’s quotes, there is a noticeable difference where men pay $7 more than women. For GEICO, however, there’s hardly any difference between the two groups.

Which is cheapest for men?

Price-conscious male drivers looking for a car insurance policy should strongly consider GEICO over Nationwide. Not only does GEICO offer monthly rates that are nearly $60 less than Nationwide, but they are also well below the national average.

Which is cheapest for women?

The comparison between quotes for female drivers from GEICO and Nationwide is a little closer than for male drivers, but not by much. GEICO once again is much cheaper than Nationwide, coming in $50 less per month and $22 below the national average.

Compare Nationwide vs. GEICO Car Insurance by Mileage

Drivers often ask their insurance agents whether the number of miles they drive annually will affect their overall rates. While some companies do provide a discount for motorists who drive less, mileage doesn’t affect the quotes from either Nationwide or GEICO.

Which is cheapest for drivers with high mileage?

Policyholders who plan to drive between 15,000 and 20,000 miles a year should consider purchasing car insurance through GEICO. The insurance provider offers plans with average premiums of around $46 a month compared to Nationwide, where policies tend to be closer to $98 a month.

Which is cheapest for drivers with low mileage?

If you only plan on using your vehicle sparingly throughout the year and expect to keep your mileage below 10,000 annually, then GEICO is the best choice. With an average rate of $46 a month, it is well below Nationwide and the national average.

Compare Nationwide vs. GEICO Car Insurance by Credit Score

In most states, your credit score is weighed heavily when insurers determine how much you will pay in premiums. Data shows that a driver with a higher credit score is less likely to file claims or be tardy on their monthly payments.

Nationwide and GEICO follow similar models, where drivers with good credit scores pay considerably less than drivers with lower credit scores.

Which is cheapest for good credit?

Drivers with higher credit are likely to find lower rates, but Nationwide is more expensive than GEICO and the industry average for both excellent and good credit scores.

Which is cheapest for bad credit?

For drivers with lower credit scores, GEICO is your choice for lower rates, coming in well below both Nationwide and the industry average.

Compare Nationwide vs. GEICO Car Insurance by Driving Record

Overall, a motorist’s driving history can play a significant role in determining their insurance premium. If a driver has several at-fault accidents or tickets, their rates will generally be much higher than those with a clean driving record.

Between Nationwide and GEICO, GEICO is more lenient about speeding tickets and accidents. Often, a driver will only experience a slight increase in their auto insurance rates if they have one accident or a single speeding ticket.

Which is cheapest for good drivers?

Drivers with a clean driving record should consider GEICO over most insurance providers. Besides USAA, GEICO offers the lowest average rates to motorists who avoid accidents and tickets at $46 per month—Nationwide, on the other hand, has an average of $102 a month.

Which is cheapest after a speeding ticket?

If you have received a speeding ticket, you might notice an increase in your monthly premiums. While Nationwide has a $29 increase in average monthly rates, GEICO only has an average monthly increase of $10.

Which is cheapest after an accident?

Accidents can cause insurance rates to significantly increase depending on the type of accident and the number of times they occur. GEICO has an accident forgiveness policy and generally offers around $72 per month to drivers with an accident, while Nationwide is drastically higher, at an average rate of $153 per month.

Which is cheapest after a DUI?

Nearly all insurance companies significantly raise rates for drivers with a DUI on their record. GEICO increases its rate to about $94 per month, while Nationwide’s monthly premium rates shoot up to $182.

Nationwide vs. GEICO Car Insurance: What discounts does each offer?

Our Methodology and How We Compared Nationwide and GEICO

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.