Nationwide vs. Allstate: Which should you choose for home insurance in 2024?

Insure.com has summarized everything you need to know about Nationwide and Allstate so you can compare them side by side and find the best fit for your home insurance needs. That includes rates, our survey of insurance customers and third-party ratings.

Nationwide ranked No. 7 of the companies in the Insure.com list of the Best Home Insurance Companies of 2024. Nationwide has a 74% customer satisfaction rating, compared with Allstate at 83%. Nationwide is available in all but seven states while Allstate operates in every state. Nationwide has an excellent AM Best score of A compared to Allstate’s superior rating of A+.

Allstate ranked No. 5, and has cheaper rates, with an average annual rate for homeowners insurance of $2,098. Compare that with Nationwide’s average annual rate of $2,746.

Insure.com compares Nationwide vs. Allstate: Which is better for you?

We’ve compiled data on Nationwide and Allstate to help you compare these two companies side by side. Based on a survey of insurance customers as well as third-party rating agencies such as AM Best and the National Association of Insurance Commissioners (NAIC), you can see how Nationwide and Allstate scored and which company might be the best fit for you.

Allstate is a great pick if finding a low rate is your top priority; it’s cheaper across the board and even more notably so for people with higher-value homes. However, the rate difference may be balanced out by Nationwide’s longer list of available discounts and larger auto-home bundling discount. To find out which is best for you, compare quotes for your home and needs.

Insure.com comparison of Nationwide vs. Allstate

The table below summarizes basic information about Nationwide and Allstate so you can compare them at a glance. Note that the Insure.com overall rating and customer satisfaction points are awarded on a scale of 1 to 5. 

Allstate received a very high overall rating in the Insure.com survey at 4.2 out of 5 stars. It has cheaper rates and came in second of all carriers surveyed in this category. Allstate has a slightly higher NAIC rating, although both are under the average; the NAIC considers any score under one to be below average.

Both companies have a solid rating with AM Best, meaning financial solvency and stability.

*Allstate is not currently writing new home insurance policies in California.

Nationwide vs. Allstate: Home insurance overview

The table below shows how each carrier scored in all major categories. Allstate scored higher in almost every category except claims handling, where Nationwide has a slight edge.

Nationwide vs. Allstate: Pros and cons

Both companies have pros and cons, and we gathered some of them here based on our analysis of the data and the results of our customer survey.

Nationwide vs. Allstate: Which has the cheapest home insurance rates?

The table below shows the rates for different coverage levels for Nationwide and Allstate. Allstate is significantly less expensive at all coverage levels, especially as you get into $1M in coverage.

 Nationwide vs. Allstate: Rates by coverage level

Nationwide vs. Allstate: Rates by credit history

In most states, it’s legal for insurers to factor in your credit history when determining what you pay for home insurance. Insure.com compiled rates for different credit scores in the table below. 

Allstate is consistently the cheaper option for all credit tiers.

Nationwide vs. Allstate: Customer satisfaction

Our survey of current Nationwide and Allstate customers found that 83% of Allstate customers report being satisfied. In this category, Allstate outscored Nationwide by several percentage points.

Nationwide vs. Allstate: Discounts

The table below shows that Nationwide offers more discounts to customers across the board than Allstate. However, not everyone qualifies for every discount, so it’s important to review them carefully to find out which company has the discounts that will save you money.

Which has a bigger auto and home discount?

One way to maximize discounts is to bundle your auto and homeowners insurance with the same carrier. Both companies offer a good auto and home bundling discount, but Nationwide has a slight edge in this category.

Nationwide vs. Allstate: Claims processing

Allstate scored higher in this category, with 83% of customers surveyed saying they were satisfied with how their claims were handled. This is an important factor when choosing your insurance company.

The bottom line: Nationwide vs. Allstate

Nationwide and Allstate are two solid, financially stable companies that are conveniently available in almost every state. 

A high percentage of Nationwide customers are likely to recommend it to others. Nationwide also offers a wide variety of discounts to customers. However, its rates are higher than the national average.

Allstate has the cheapest rates of the two carriers and the second cheapest rates of all carriers surveyed. It has a low complaint ratio with the NAIC. 

If you’re moving, increasing coverage, have any changes to your family situation or just reviewing your policy, now is a good time to shop around and compare carriers and quotes to find the best deal for your family’s needs.

Methodology

Insure.com in the fall of 2023 surveyed more than 1,750 insurance consumers (1,151 people with home insurance). The survey was conducted by online market research company Slice MR.

Respondents were asked to name their home insurer and then grade it in the following categories: customer satisfaction, ease of service, claims satisfaction and policy offerings. The percentage of respondents who said they were satisfied or very satisfied with their insurer is presented in the results.

Respondents were then asked to pick their insurer’s top three attributes out of more than a dozen presented – including digital experience, discounts best for auto/home bundling and best for discounts. The number of responses for each attribute were totaled before dividing by the number of each company’s customers who responded to that survey question to create a percentage.

Respondents were then asked if they would recommend their home insurer to someone else and if they planned to renew their policies. The percentage who said yes is presented in the results.

Finally, respondents were given the statement “I trust my insurance company” and asked if they strongly agreed, agreed, disagreed or strongly disagreed with the statement. The percentage of those who said they agreed or strongly agreed is presented in the results.

The editors compiled the survey results and then selected – based on the number of survey responses – the top companies for further evaluation.

They then collected AM Best data, which measure financial strength, and National Association of Insurance Commissioners’ complaint data, which ranks a company by the number of customer complaints it receives. The Insure.com team identified the NAIC company code or codes that were the primary underwriting companies for each carrier and line of business using total annual premiums. The associated NAIC complaint index score was used in the calculations. If more than one underwriting company was identified for a line, the editors used a weighted average of the NAIC complaint index scores.

They also collected insurance rate data from Quadrant Information Services.

With the help of Prof. David Marlett, Ph.D., Managing Director of the Brantley Risk and Insurance Center at Appalachian State University, the editors created a rating system to determine which insurance companies were best in each sector. For home insurers, we took the following and gave each a weight.

Survey: 40% of the total score (10% customer satisfaction, 10% recommended, 10% renewal rate and 10% claims handling)

• AM Best: 25% of total score
• Annual premium: 20% of total score
• NAIC: 15% of total score

Each insurer was awarded between half a star and 5 stars. No company in the ranking received less than half a star in any category, and 5 stars was the most any insurer could receive.

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