Nationwide vs progressive | The bank rate
Nationwide Insurance was founded in 1925 and was originally established to help farmers obtain more affordable auto insurance. As of 2020, it is the eighth largest auto insurance provider, with 2% of the total market share. Nationwide underwrites its own policies and sells a wide variety of insurance products, including auto, home, tenant, life, pet and business insurance.
Progressive Insurance is another popular auto insurance provider, with 13% of the total market share, making it the third largest company in the United States. Progressive was founded in 1937 and currently has over 18 million customers. Like Nationwide, Progressive offers a wide range of personal and business insurance products.
Nationwide vs Progressive: Auto Insurance Price Comparison
Nationwide and Progressive are comparable in terms of their third party ratings and average annual premiums. Progressive’s pricing is slightly more expensive and its overall customer satisfaction score is also lower than Nationwide. The table below includes a side-by-side comparison of the average prices of Nationwide vs Progressive and third-party ratings:
|Auto insurance company||Bank rate score||AM best||JD Power||Average annual premium for minimum coverage||Average annual premium for full coverage|
|In all the countries||4.2||A +||876/1000||$ 501||$ 1,485|
|Progressive||4.1||A +||856/1000||$ 582||$ 1,509|
Rates by credit score
Unless you live in Hawaii, California, Washington, or Massachusetts, auto insurance companies are allowed to take your credit score into account when calculating your rate. Drivers with poor credit pay lower rates with Nationwide, but drivers with excellent credit pay lower rates with Progressive. The table below examines the average cost of auto insurance from Progressive vs. Nationwide based on credit score:
|Auto insurance company||Poor||Average||Good||Excellent|
|In all the countries||$ 1,924||$ 1,577||$ 1,485||$ 1,269|
|Progressive||$ 2,979||$ 1,629||$ 1,509||$ 1,121|
Rates by age
Age is another factor that will impact your auto insurance rates. Young drivers pay the highest rates because they lack experience and are more prone to accidents. Overall, Nationwide will be a cheaper option for younger drivers. You can see the Nationwide vs Progressive average annual premiums by age in the table below:
|Auto insurance company||Age 16 *||18 years *||25 years||30 years||40 years||60 years|
|In all the countries||$ 1,241||$ 4,449||$ 1,668||$ 1,479||$ 1,485||$ 1,243|
|Progressive||$ 1,955||$ 6,287||$ 1,796||$ 1,668||$ 1,509||$ 1,302|
* Cost of 16 years old when added to parents policy, 18 year old renter
Rates per driving record
Drivers who have no infractions on their record pay the lowest auto insurance rates. Nationwide is the cheapest option if you have a clean driving record, but if you have violations on your record the cheapest company varies. We have included a Progressive vs Nationwide comparison in the table below for average annual premiums based on driving record:
|Auto insurance company||Clean driving record||Speeding||Accident||DUI conviction|
|In all the countries||$ 1,485||$ 1,734||$ 1,745||$ 2,665|
|Progressive||$ 1,509||$ 1,826||$ 2,231||$ 1,933|
Nationwide vs Progressive: reductions
Nationwide and Progressive both offer a list of impressive discounts on auto insurance. However, each supplier has different savings opportunities. Here are some of the unique and notable auto insurance discounts offered by each provider:
In all the countries
- SmartMiles discount – Nationwide’s SmartMiles program is a pay-per-mile insurance plan that could offer you a lower rate for driving under a certain number of miles each year.
- Safe driver discount – You may be able to take advantage of the Safe Driver Discount if you have no accident or major infraction on your record for at least five years.
- Multi-policy discount – When you bundle a home and auto policy with Nationwide, you can save an average of $ 646. Progressive’s multi-policy discount only comes with a 5% savings, which is much less.
- Discount for teenage drivers – The Progressive Teen Driver Discount can help you prevent your fare from increasing significantly after adding a new driver to your policy.
- Pay full discount – You may be able to benefit from a reduction from Progressive if you pay your annual premium in advance and in full, rather than in monthly installments.
- Deductible savings bank – With Progressive’s Deductible Savings Bank, you may be able to reduce your All Perils or Collision Insurance deductible by $ 50 for each insurance period where you have no claims.
Nationwide vs Progressive: Comparison of Online and Mobile Experience
Overall, Nationwide and Progressive have good online and mobile experiences. Both companies have an online quote tool, helpful resources and articles, and an easy-to-use interface with simple navigation.
However, we’ve found that Progressive offers better online tools, like the Name Your Price tool, which allows you to craft a policy that fits your budget. Both companies also offer a mobile app that includes standard features. Here’s a look at the Nationwide vs Progressive mobile app:
In all the countries
- App store (4.4 stars) – Nationwide’s iOS app has excellent reviews on the App Store, with a good range of features. You can get your ID cards, file a claim, log in to roadside assistance, and find repair shops near you. Depending on your device, you can also set up a fingerprint or facial login.
- google play (4 stars) – With the Nationwide Android app, you get the same features as the iOS app, such as roadside assistance, claim reports, payments, ID cards and more. However, some users are reporting application bugs, including features that do not work properly.
- App store (3.5 stars) – If you have an iPhone, you can use Progressive’s mobile app to pay your premiums, get your IDs, report a claim, get roadside assistance, and even start a resubmission. insurance. The app score of 3.5 isn’t great, but most of the ratings are for the company itself, not for the actual app experience.
- google play (4.1 stars) – Progressive’s Android app has higher ratings than the iOS app. It has all the same features as the iOS app, with the ability to get roadside assistance, report a claim, and make basic changes to your existing policy. If you are enrolled in the Snapshot Safe driver program, you can also check your progress in the mobile app.
Frequently Asked Questions
What is the best auto insurance company?
The best auto insurance company is different for every driver. The best customer service provider may not be the best provider for low rates or customizable coverage. To find the best supplier for your needs, we recommend that you shop around, get some quotes, and compare suppliers using your personal criteria.
How much does car insurance cost?
The average cost of auto insurance in the United States is $ 1,674 per year for a full coverage policy. However, remember that auto insurance rates are personalized. You could pay more or less than the national average rate depending on factors such as your condition, age, driving record, and claims history.
Can I change car insurance company?
Yes, you can change auto insurer at any time. Changing car insurance companies can be a good way to get a lower rate if you’ve recently had a claim or want to access more discounts or coverage options.
Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record , good credit and coverage limits:
- $ 100,000 of civil liability per person
- Civil liability of $ 300,000 per accident
- Liability for property damage of $ 50,000 per accident
- $ 100,000 of uninsured bodily injury by a motorist per person
- $ 300,000 in uninsured bodily injury by a motorist per accident
- $ 500 collision deductible
- Full $ 500 deductible
To determine the minimum coverage limits, Bankrate used minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week, and cover 12,000 miles a year.
These are sample rates and should only be used for comparison purposes.
Credit: The rates have been calculated based on the following insurance credit levels assigned to our drivers: “poor, average, good (basic) and excellent”. Insurance credit levels are factored into your official credit scores, but are not solely dependent on this variable. The following states do not allow credit to be a factor in determining auto insurance rates: CA, HI, MA
Age: The rates were calculated by evaluating our basic profile with 18-60 year olds (base: 40 years old) applied. The rates for 16 year olds were factored in as the additional cost of their parents’ policy; The rates for 18 year olds were calculated like drivers who rent out their primary residence.
Incident: The rates were calculated by evaluating our baseline profile with the following incidents applied: blank file (baseline), at-fault accident, single speeding ticket, single DUI conviction (BAC> = .08) and lapse of coverage.
Bank rate scores
Bank rate scores primarily reflect a weighted ranking of industry standard ratings for financial strength (AM Best, S&P, Moody’s) and customer experience (JD Power, NAIC), in addition to the average rates reported by Quadrant Information Services. The JD Power studies used include the 2020 Auto Insurance Study and the 2020 Auto Claims Study. The in-depth research and analysis by our editorial team at Bankrate provided a secondary assessment of each insurer’s online and mobile resources. and policy management options, which also contributed to the overall rating.