Difference Between Nationwide and Allstate (With Table)

Nationwide and Allstate are car insurers in the U.S. Nationwide is the 10th largest insurer in the U.S who has been selling their policies since 1926. Allstate is the 5th largest insurer in the U.S which has been writing auto insurance policies since 1931. They have millions of customers following them and availing of their services.

Nationwide vs Allstate

The difference between Nationwide and Allstate is that they differ in their discount rates, online app usage and experience, rate by driving records, age, and credit score of their policies and premium rates. Nationwide charges lower premiums depending on the age group whereas Allstate charges higher premiums.

Nationwide was founded in 1925 by Murray D.Lincoln as Farm Bureau Mutual Automobile Insurance Company which was later changed to Nationwide due to its expansion all over the Globe in 1955. It was expanded to 20 new states which was the reason behind its name change.

Allstate has over 113 million customers across the world and has more than twelve thousand agents in the U.S. It was founded in 1931 by Roebuck and General Robert E.Wood. The name was due to the tire sold in a Sears catalog which was the reason behind the name Allstate Insurance company.

Comparison Table Between Nationwide and Allstate

Parameters of ComparisonNationwideAllstate
OriginNationwide was found in 1925 by Murray D.Lincoln in the U.S, which was later spread to 20 states in the U.S. Allstate was found in1931 by Roebuck and General Robert E.Wood in the U.S.
Mobile experienceNationwide has 4.4 stars in Appstore and 4.0 stars in Google play. Allstate has 4.8 stars in Appstore and 3.1 stars in Google play.
Rates by ageLower premiums are generated Nationwide depending on the age factor.Higher premiums are generated in Allstate.
Driving records rateNationwide shows less increase in the driving rates.Allstate shows a steady increase in the average driving rate.
DiscountsNationwide has around 9 available discounts, which depend on their full pay, anti-lock brakes, or theft devices. Allstate has 11 available discounts, which depend on a smart ride, bundling, and accident-free ride.

What is Nationwide?

Nationwide was introduced in 1925, which got its name in 1955 across 20 states in the U.S. Nationwide has excellent financial strength and an average JD power rating. Nationwide provides huge savings power for safe-driving people with deductible vanishing.

Nationwide offers excellent discounts when auto, home, and life policies are dealt with them together. They offer and create auto repair networks that also guarantee the workmanship of their repairs and policies. They provide lots of offers and discounts along with introducing new insurance products as well.

Nationwide has updated its insurance products that include annuities, boat, car, business, commercial, condo, farm, homeowners, landlords, life insurance, motorcycle, RV, pet, renter insurances, along with mortgages, roadside assistance coverage, long-term savings plan, and mutual funds.

Nationwide also provides discounts that include accident-free, advance quota, anti-theft, defensive driving, farm bureau, good student, nationwide family plan, new vehicle, paperless documents, smart ride, multi-policy, easy pay, affinity car insurance, and passive occupant restraint discounts as well.

What is Allstate?

Allstate was found in 1931 with excellent financial strength and average JD power ranking. Allstate provides a mobile app for maintaining its account virtually and it is user-friendly. They are the fifth largest insurance company in the U.S and provide insurance in all the states.

Allstate offers customizable insurance packages that have huge discounts and products as well. Allstate has more than 12000 agents across the state which makes it easier to access and avail the services. They provide mobile apps for both ios and android users.

Allstate does not provide farm insurance and pet insurance while providing other insurance that includes annuities, house, business, commercial, mortgages, long-term life plans, landlord insurance, life insurance, mutual funds, motorcycle insurance, renters, RV, and roadside assistance coverage as in the case of Nationwide.

Allstate provides discounts that include Allstate e-smart discount, anti-lock brake, anti-theft device, deductible rewards, early signing discounts, EZ pay plans, full pay, multiple policies, new car discounts, responsible payer, safe driver bonus, and smart student discounts.

Main Differences Between Nationwide and Allstate

  1. Nationwide was founded and introduced in 1925, whereas Allstate was introduced in 1931. Nationwide was introduced in 20 states in the U.S, during which its name has been changes from its former name.
  2. Nationwide has less market share which is around 2.7% which is much higher for Allstate insurance company which is 4.9%. While the market share changes and are not constant, the last updated share has been less for Nationwide and much higher for Allstate.
  3. Nationwide includes and provides farm insurance and pet insurance whereas Allstate does not provide farm and pet insurance. While other policies and insurance are been much similar for both the insurance companies.
  4. Nationwide provides accident-free discount which is not provided by Allstate. By providing accident-free discount they ensure that their costumers are safer and given priority in their health benefits.
  5. Nationwide provides long-term policyholder discounts, which are not provided by Allstate. Long-term policy holders depends on their age and their premium would differ on their age factor during which they are into the plan or service.
  6. Nationwide has lower ratings and reviews on mobile apps usage whereas Allstate has higher reviews and ratings on mobile app usage and experience. Based on their reviews and ratings it has been analysed that Nationwide has been less used and reviewed when compared to Allstate which is used and reviwed by more than 2 lakh poeple across the country.

Conclusion

Nationwide and Allstate insurers are ranked best among the top 10 insurance companies providing their services and products in the U.S. Nationwide is ranked 10th largest insurance company and Allstate is ranked 5th largest in terms of their discounts, benefits, and products updated.

Nationwide and Allstate have excellent financial history and an average JD power ranking when compared to their competitors. They are much similar in their mobile app services that provide virtual connectivity in all the states but differ in their products and services provided.

References

  1. https://www.thieme-connect.com/products/ejournals/html/10.1055/s-0029-1225333
  2. https://heinonline.org/hol-cgi-bin/get_pdf.cgi?handle=hein.journals/mnlr66&section=26
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