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.
Nationwide has an IQ Score of 9.0, while GEICO has an IQ Score of 9.2. 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 $136 per month, lower than Nationwide’s average rate of $177 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
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
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
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.
A GEICO car insurance policy is cheaper than a Nationwide one for drivers with a clean record.
For drivers with a speeding ticket on their record, GEICO offers lower average car insurance premiums.
GEICO offers more affordable rates for teen drivers, who typically pay the highest car insurance rates.
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.
Senior drivers who want affordable car insurance should consider GEICO, which offers cheaper rates compared to Nationwide.
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.
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
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.
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.
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
Yes, GEICO has lower rates than Nationwide. The average cost of car insurance from GEICO is $136 per month for full coverage, while Nationwide’s average full-coverage insurance cost is $177 per month.
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