Nationwide vs. GEICO: Which Is the Best? (2024)

With low rates and great customer satisfaction ratings, GEICO stands out as the better company.

Elizabeth Rivelli
Elizabeth Rivelli
  • 5+ years writing insurance and personal finance topics

  • Auto, home, health, and life insurance expertise

Elizabeth has extensive insurance industry experience, having written for Insureon, Rate Retriever, and Insurify. She’s also finance and insurance editor for Car and Driver.

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Danny Smith
Edited byDanny Smith
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Danny Smith
  • Licensed auto and home insurance agent

  • 4+ years in content creation and marketing

As Insurify’s home and pet insurance editor, Danny also specializes in auto insurance. His goal is to help consumers navigate the complex world of insurance buying.

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Konstantin Halachev
Data reviewed byKonstantin Halachev
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.

Updated June 11, 2024

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Nationwide and GEICO are two of the largest insurance companies in the United States, offering a wide variety of insurance products, including car insurance. While Nationwide stands out for its robust coverage options, GEICO offers a slightly better selection of discounts. GEICO also has cheaper average rates, according to Insurify’s study of recent cost data from both insurers.

Before choosing an insurer, it’s a good idea to compare quotes from a few auto insurance companies and consider factors like customer service, discounts, and coverage. Every driver has specific needs for insurance, so the best option for you will ultimately depend on your budget and personal situation.

Quick Facts
  • GEICO has better customer satisfaction ratings than Nationwide.

  • Both GEICO and Nationwide offer app-based safe driver rewards programs.

  • GEICO has cheaper car insurance rates for young drivers.

Nationwide vs. GEICO: The verdict

Nationwide has an IQ Score of 4.4, while GEICO has an IQ Score of 4.4. However, each company stands out in different categories.

In terms of cost, Insurify found that GEICO has cheaper rates than Nationwide. GEICO’s average monthly rate for full-coverage car insurance is $119 per month, lower than Nationwide’s average rate of $185 per month. Additionally, GEICO offers more discounts, which could help reduce your premium even more.

When it comes to additional coverages, however, Nationwide is the clear winner. Nationwide offers a variety of add-ons, including roadside assistance, accident forgiveness, a disappearing deductible, gap insurance, and a few others.[1] GEICO only offers three endorsements — roadside assistance, rental reimbursement coverage, and mechanical breakdown insurance.[2]

FactorNationwideGEICO
IQ Score4.44.4
J.D. Power customer satisfaction score806 out of 1,000818 out of 1,000
Average quote: full coverage$185$119
Number of discounts1116
Number of states where it operates4850
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.
  • Our editorial team spent 350 hours developing the Insurify Quality (IQ) Score and scoring insurance companies. The IQ Score objectively analyzes and calculates a score for insurers using more than 15 crucial criteria. Criteria are weighted by importance to the consumer — factors such as customer reviews and affordability influence the score more than availability and third-party ratings.

    We rate each company on a 1 to 5 scale based on five categories: financial ratings, customer satisfaction, affordability, customer support and transparency, and availability. We update ratings once a year or as more recent information becomes available.

    • Third-party financial ratings: We use data from AM Best, S&P, Moody's, and more to compare insurance companies’ credit and ability to pay out future claims.
    • Customer satisfaction: To calculate this score, Insurify analyzed more than 20,000 customer reviews across 155 car insurance companies. We also considered third-party ratings from J.D. Power, the National Association of Insurance Commissioners, and Trustpilot.
    • Affordability: Our data scientists analyzed more than 90 million real-time auto insurance rates from our partners across the United States, as well as available discounts, to calculate an affordability score.
    • Customer support and transparency: This measures coverage options, ease of claims filing, and the insurer's transparency surrounding discounts, coverages, and claims process.
    • Availability and reach: Insurify identified the number of states in which insurers offer coverage and company size by market share to score availability and reach.

Nationwide

As of 2022, Nationwide was the 10th-largest car insurance company, with just under 2% of the total market share.[3] In J.D. Power’s 2023 U.S. Auto Insurance Study, Nationwide was rated below average for overall customer satisfaction in every region.[4]

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
815
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$84/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$185/mo

In business since 1925, Nationwide is one of the largest insurers, and sells car, homeowners, life insurance, umbrella insurance, and more. In addition to liability, collision and comprehensive, Nationwide provides optional coverages such as towing and labor, rental car, and gap. The company also offers accident forgiveness, and a vanishing deductible that lowers your deductible for each year you drive safely. Nationwide has an A+ rating from A.M. Best for financial stability, and an only slightly higher-than-expected number of customer complaints in the National Association of Insurance Commissioner’s Consumer Complaints Index.

Pros
  • Numerous discount and savings opportunities

  • SmartRide (for safe drivers) and SmartMiles (for low-mileage drivers)

Cons
  • Not available in every state

  • Some discounts and programs not available in all states

Read our Nationwide review
Huy - June 10, 2024
Verified

Excellent

Excellent

Bernadette - June 7, 2024
Verified

Very Patient and Understanding

They accommodate you if you have issues with paying your bill.

Dusty - June 4, 2024
Verified

My Experience

Pay on time and everything's great.

GEICO

GEICO is owned by Berkshire Hathaway and is the third-largest car insurance company, with nearly 14% of the total market share.[3] The company is rated above average for overall customer satisfaction in half of the regions in J.D. Power’s 2023 U.S. Auto Insurance Study.[4]

Compare personalized, real-time quotes
IQ Score
The Insurify Quality (IQ) Score uses more than 15 criteria to objectively rate insurance companies on a one-to-five scale. The Insurify editorial team researches insurer data to determine the final scores.
4.4
JD Power
J.D. Power data measures overall customer satisfaction and claims satisfaction based on a 1,000-point scale.
835
Liability Only
Liability-only insurance, sometimes called minimum-coverage insurance, pays for bodily injury and property damage to others in an accident the policyholder causes. It does not pay for the insured’s own damages.
$55/mo
Full Coverage
Full-coverage car insurance generally includes liability, collision, and comprehensive coverage, and may include other optional coverages such as uninsured motorist coverage. Collision covers a policyholder’s repair or replacement costs in case of an accident. Comprehensive covers damages caused by non-accident events. The average quote displayed here reflects policies with the following coverage limits: $50,000 bodily injury liability per person; $100,000 bodily injury liability per accident; $50,00 property damage liability per accident; $1,000 collision deductible; and a $1,000 comprehensive deductible.
$119/mo

A highly recognizable name in car insurance, GEICO is a subsidiary of Berkshire Hathaway. The company started out as the Government Employees Insurance Company, serving U.S. government workers and military personnel. In addition to auto insurance, GEICO also sells homeowner, flood insurance, life insurance, business insurance, and identity protection, among other products. A.M. Best gives GEICO its highest rating for financial stability and credit. However, GEICO has nearly twice as many complaints as expected in the National Association of Insurance Commissioner’s Consumer Complaints Index.

Pros
  • Good rates for good drivers, seniors, and young drivers

  • Accident forgiveness available

Cons
  • High rates for drivers with certain violations, like DUIs

  • No rideshare or new car replacement coverage available

Read our GEICO review
Jacqueline - June 11, 2024
Verified

Horrible

I am very upset that my policy increased from 242 to 329. I am 62 years old and I believe I should not be paying that much for a car that will be paid off next month.

Frank - June 11, 2024
Verified

Geico is My Winner

So far, Geico has offered the best price for insurance.

Addis - June 11, 2024
Verified

High Premium

High premium.

Nationwide SmartRide vs. GEICO DriveEasy

Nationwide and GEICO both offer telematics-based safe driver rewards programs.

Nationwide SmartRide uses a free mobile app to track your driving behaviors, like speed and brake force. You get a 15% discount for signing up and a maximum discount of 40% for demonstrating safe driving habits. SmartRide is strictly a discount program, so your rate won’t increase if the app tracks unsafe driving behaviors.[5]

GEICO DriveEasy also uses a mobile app to record your habits behind the wheel, such as acceleration, phone use, and how fast you drive around corners. The company doesn’t advertise a sign-up discount or maximum discount online, so it may vary by state. However, unlike SmartRide, your rate can go up if the app detects unsafe driving.[6]

Nationwide vs. GEICO: Which is the cheapest?

GEICO has cheaper car insurance than Nationwide, based on Insurify’s rate data. However, the cost of car insurance depends on various factors, including your location, age, credit history, marital status, vehicle type, and the duration of your insurance policy (one year versus six months). 

To find the cheapest car insurance and the best choice for you, it’s important to compare personalized rates from both Nationwide and GEICO.

GEICO: Cheapest for drivers with a clean driving record

A GEICO car insurance policy is cheaper than a Nationwide one for drivers with a clean record.

Driver TypeNationwideGEICO
Clean driving record$185$119
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for drivers with a speeding ticket

For drivers with a speeding ticket on their record, GEICO offers lower average car insurance premiums.

Driver TypeNationwideGEICO
Drivers with a speeding ticket$220$139
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for teen drivers

GEICO offers more affordable rates for teen drivers, who typically pay the highest car insurance rates.

Driver TypeNationwideGEICO
18-year-old$299$160
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for drivers with bad credit

Drivers with bad credit are often considered high-risk drivers and usually pay more for coverage. For drivers with a bad credit score, GEICO offers the lowest rates.

Driver TypeNationwideGEICO
Drivers with bad credit$223$135
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

GEICO: Cheapest for senior drivers

Senior drivers who want affordable car insurance should consider GEICO, which offers cheaper rates compared to Nationwide.

Driver TypeNationwideGEICO
Senior drivers$124$91
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers. Actual quotes may vary based on the policy buyer's unique driver profile.

Compare coverages: Nationwide vs. GEICO

Both Nationwide and GEICO offer liability-only insurance and full-coverage car insurance policies with collision insurance, comprehensive insurance, medical payments insurance, uninsured/underinsured motorist coverage, and personal injury protection.

Nationwide and GEICO also sell optional endorsements for additional protection. Nationwide has slightly more coverage options than GEICO. Below, you can see how Nationwide and GEICO stack up in terms of coverage.

Compare discounts: Nationwide vs. GEICO

Nationwide and GEICO both offer a good selection of auto insurance discounts. However, GEICO customers get access to a few more discounts, including savings for military members, federal employees, and affinity group members. Below, you can see how these two companies compare in terms of discounts.[7] [8]

DiscountNationwideGEICO
Clean driving recordYesYes
Defensive driving courseYesYes
Multi-policyYesYes
Multi-carYesYes
Low mileageYesNo
Telematics (safe driving app)YesYes
Anti-theft deviceYesYes
New carNoYes
Military/affiliationNoYes
Good studentYesYes
LoyaltyNoNo
Auto payYesYes
Student away at schoolNoNo
HomeownerNoNo
Alternative fuelNoNo

Nationwide vs. GEICO FAQs

Nationwide and GEICO are both good insurance companies, but each one has pros and cons. If you’re deciding whether Nationwide or GEICO car insurance coverage is a better option for you, these answers might be helpful.

  • Who is GEICO’s biggest competitor?

    GEICO doesn’t necessarily have a single biggest competitor, but it has a similar market share to Progressive and State Farm. GEICO’s average auto policy rates are comparable to State Farm’s rates, and both companies offer a good selection of discounts. Progressive also offers generous discounts, but its average rates are much higher than GEICO’s and State Farm’s rates.

  • Is Nationwide good at paying claims?

    Nationwide is rated below average for overall claims satisfaction in J.D. Power’s 2023 U.S. Auto Claims Satisfaction Study. It earned a score of 875 out of 1,000, which is slightly lower than the industry average of 878. However, Nationwide has an A financial strength rating from AM Best, which indicates that it has an excellent financial ability to meet policyholder obligations and pay insurance claims.[9]

  • Is GEICO cheaper than Nationwide?

    Yes, GEICO has lower rates than Nationwide. The average cost of car insurance from GEICO is $119 per month for full coverage, while Nationwide’s average full-coverage insurance cost is $185 per month.

Methodology

Insurify data scientists analyzed more than 90 million quotes served to car insurance applicants in Insurify’s proprietary database to calculate the premium averages displayed on this page. These premiums are real quotes that come directly from Insurify’s 50+ partner insurance companies in all 50 states and Washington, D.C. Quote averages represent the median price for a quote across the given coverage level, driver subset, and geographic area.

Unless otherwise specified, quoted rates reflect the average cost for drivers between 20 and 70 years old with a clean driving record and average or better credit (a credit score of 600 or higher).

Liability-only premium averages correspond to policies with the following coverage limits:

  • Bodily injury limits between state-minimum rates and $50,000 per person, $100,000 per accident
  • Property damage limits between $10,000 and $50,000
  • No additional coverage
Full-coverage premium averages correspond to the same bodily injury and property damage limits in addition to:
  • Comprehensive coverage with a $1,000 deductible
  • Collision coverage with a $1,000 deductible

Quotes for Allstate, Farmers, GEICO, State Farm, and USAA are estimates based on Quadrant Information Services’ database of auto insurance rates.

Sources

  1. Nationwide. "Full Coverage Insurance – Nationwide."
  2. GEICO. "Car Insurance Coverage: Auto Coverage Types & More."
  3. National Association of Insurance Commissioners. "Property and Casualty Insurance Industry 2022 Top 5 Groups and Companies by Countrywide Premium."
  4. J.D. Power. "2023 U.S. Auto Insurance Study."
  5. Nationwide. "SmartRide."
  6. GEICO. "DriveEasy."
  7. Nationwide. "Affordable Car Insurance & Discounts from Nationwide."
  8. GEICO. "Car Insurance Discounts - Savings on Auto Insurance."
  9. Ambest.com. "AM Best Downgrades Credit Ratings of Nationwide Mutual Insurance Co & Its P/C Subs; Affirms Credit Ratings of Life Affiliates."
Elizabeth Rivelli
Elizabeth Rivelli

Elizabeth Rivelli is a freelance writer covering insurance and personal finance. She has extensive knowledge of various insurance lines, including property and casualty, health, and life insurance. Her byline has been featured in dozens of publications, including Investopedia, Forbes, Bankrate, NextAdvisor, and Insurance.com

Danny Smith
Edited byDanny Smith
Photo of an Insurify author
Danny Smith
  • Licensed auto and home insurance agent

  • 4+ years in content creation and marketing

As Insurify’s home and pet insurance editor, Danny also specializes in auto insurance. His goal is to help consumers navigate the complex world of insurance buying.

Featured in

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Konstantin Halachev
Data reviewed byKonstantin HalachevVP of Engineering & Data Science
Headshot of Konstantin Halachev, VP of Engineering at Insurify
Konstantin HalachevVP of Engineering & Data Science
  • 7+ years experience in data analysis

  • Ph.D. in Computational Biology

Konstantin has led data teams across multiple industries, including insurance, travel, and biology. He’s led Insurify’s engineering team for more than three years.

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