Insurance: State Farm vs Nationwide

[yellow2000S/R]

Currently have State Farm, have had them for 5 years or so, I'm 26 and paying $45/month on a 99 Silverado with 100/300/100, $0 deductible comp, and no collision coverage.

Got quotes from a few others (Geico, Progressive, Allstate, etc) and they're similar/a few dollars cheaper.

Nationwide is $32 for same coverage as now PLUS adding on $250 deductible collision and better roadside package.

My 23yr old brother is paying $75/mo for full coverage on his 99 BMW 325 through StateFarm, Nationwide would do identical coverage for $36...

If we both switch, since we live in the same household, it'd drop me to $27/mo and him to $31/mo and drop a few bucks more if we get their renters.


We're both thinking of switching but how can they be so much less? Identical uninsured/underinsured, stacked, limited tort, etc as our State Farm policies.

[breNTx22]

Sometimes companies are just hungry.

[sfd]

They did a full pull on you for that quote? I mean driving history, credit check, VIN run, etc? Quotes via the websites can be misleading even when they have the ability to import your policy. They are essentially try to sell you.

Otherwise my only thought is the underwriting along with the way they judge all your factors just ends up cheaper. Your drop by $10 is believable. His discount is not.

[yellow2000S/R]

They did a full pull on you for that quote? I mean driving history, credit check, VIN run, etc? Quotes via the websites can be misleading even when they have the ability to import your policy. They are essentially try to sell you.

Otherwise my only thought is the underwriting along with the way they judge all your factors just ends up cheaper. Your drop by $10 is believable. His discount is not.

Yea, we couldn't believe online prices so we went to the closest one. The agent was more then welcoming and said he actually use to work for State Farm for 5 years. The prices in-person were within $1-2 of the online ones. They pulled up the vin with my current insurance stuff. I had my policy in-hand and compared everything and it was identical down to stacked and all. I also have a credit score that hovers around 740.

My brother, while only being 23, has had no traffic violations or accidents.


Also asked about my life insurance, they'd do $61/mo for the same 20yr pay $50k life policy that I'm paying $75 for through State Farm. They also ran a life quote for my brother and his came back for $51.

[jpalamar]

We got the best rates from Nationwide for cars. State farm was much cheaper on my GSXR though.

[GolNat]

Allstate was cheaper and gave me better coverage then State Farm.


Also asked about my life insurance, they'd do $61/mo for the same 20yr pay $50k life policy that I'm paying $75 for through State Farm. They also ran a life quote for my brother and his came back for $51.

That's really high. I pay around $17 a month for 200k/20yr through Allstate.

[yellow2000S/R]

Allstate was cheaper and gave me better coverage then State Farm.

That's really high. I pay around $17 a month for 200k/20yr through Allstate.

You're either still on a policy that you haven't switched to a full life policy and still have 3-5 years to switch or you're on a policy that terminates in 20 years leaving you high and dry with nothing.


Mine also builds cash interest that I can take out with 0% interest after about 3 years. After 20 it'll be about $18k.

[c7scayman]

We're both thinking of switching but how can they be so much less? Identical uninsured/underinsured, stacked, limited tort, etc as our State Farm policies.

In my case, I have found Geico and Progressive to be hundreds less than State Farm and AllState. I recheck every 6 months when I renew my insurance.

I always ended up switching back and forth every 6 months between Geico and Progressive because they keep offering a few dollars less than the other each year.

In your case, how long have you been with State Farm? They can see your history with them. They typically offer low rates to try to steal customers away from other companies, especially if you have been with them for a while. Lots of people don't switch due to brand loyalty.