Compare Foremost Signature vs. Nationwide: Quotes, Discounts (2023)

Foremost Signature vs. Nationwide: A Summary

Foremost Signature is a leading specialty insurance company that started with a focus on protecting mobile homes and has since expanded to car insurance. And Nationwide is one of the top 10 largest car insurance companies in the country. Both companies have their relative advantages and drawbacks, so this article compares data from each to help you compare car insurance.

ICS Score Explanation:

The Insurify Composite Score (ICS) is a proprietary rating calculated by a team of data scientists at Insurify, weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Inputs to the score include financial strength ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

Foremost Signature

Foremost Insurance Company was founded in Grand Rapids, Michigan, in 1952. In 2000, the Farmers Insurance Group acquired the company. The insurer now offers car insurance through its affiliate Bristol West. Its perks include motorcycle insurance, recreational vehicle insurance, and a mobile app with digital IDs and the company’s emergency contact information.

Nationwide

Over the years, Nationwide has become a household name in car insurance. Millions of customers insure their homes, cars, and more with this company. It offers insurance products with benefits like roadside assistance, vanishing deductibles, and a 24/7 claims center. In addition, the SmartRide program incentivizes safe driving habits with added discounts.

The Best Car Insurance Companies in 2022

Nationwide is a top auto insurance provider for safe drivers. If you haven’t had any accidents or tickets in the past three years, you may want to look into Nationwide. And the Foremost Signature claims process garners high ranks because the company tries to remove all the hassle. Furthermore, Nationwide and Foremost let you personalize your coverage options to match your needs.

Compare Foremost Signature vs. Nationwide: Which Is Cheaper?

Nationwide is the most affordable option across all areas the data measured unless you’ve had a DUI. Nationwide’s average monthly car insurance premium is $101, and Foremost Signature is $27 higher, at $128. However, Foremost may offer a cheaper deal for some people, so maybe get quotes from both.

The Cheapest Car Insurance Companies in 2022

Both companies miss the top 10 rankings, yet they still offer competitive rates to parts of the market. Foremost Signature is geared toward high-risk drivers, whereas Nationwide aims to be a one-stop source for insurance, asset management, retirement savings, and other investments. And both insurers try to reward customers who purchase more products than car insurance alone.

Compare Foremost Signature vs. Nationwide Car Insurance by Age

Why does your age matter for auto insurance quotes? Underwriters would say it’s significant for several reasons. For starters, older drivers are more experienced and creditworthy. Also, they tend to be homeowners and qualify for bundling discounts. All three factors help explain why older drivers pay much less than young people for an auto insurance policy.

Prices at Foremost Signature and Nationwide follow a similar pattern. Teens fork over the steepest insurance premiums and then costs progressively fall until drivers reach their retirement and golden years. Specifically, drivers in their 50s receive the lowest prices from both insurance providers. The lowest monthly premium for Foremost Signature is $109, while at Nationwide, it’s $75.

Compare Foremost Signature vs. Nationwide Car Insurance by Gender

Your gender affects the price of your auto policy. Ordinarily, the price gap between men and women is small. Yet it can be significant with some insurers. For instance, young men are statistically riskier drivers than young women. As a result, men must hand over higher rates to account for the added risk.

There is a two percent pricing difference for women who pick Foremost, causing them to hand over $2 less than men monthly. But, at Nationwide, men pay $7 more per month than women, a seven percent gap. For context, the national averages for men and women differ by just one percent, which means men spend only $1 more. And both insurers cost more than the national average for both genders.

Which is cheapest for men?

Men who are looking for the best offer should give Nationwide a shot. At $105 per month, Nationwide is $24 less costly than Foremost, resulting in a savings of $288 per year. However, because both companies’ premiums are higher than the national average, men may wish to check Insurify to get a rate closer to the national average of $81 per month.

Which is cheapest for women?

Women on a strict budget may want to try Nationwide, whose pricing is $29 less than Foremost, at $98 per month. The annual savings amount to $348. Despite both insurers soaring past the $78 per month national average, it can’t hurt to see what they offer along with their competition.

Compare Foremost Signature vs. Nationwide Car Insurance by Mileage

Typically, your auto insurance prices will rise in direct proportion to the number of yearly miles you travel. It’s primarily due to insurers’ recognition that spending more hours on the road increases the likelihood of an accident. However, the pricing gap between different mileage levels is considerable at some auto insurance providers but not at others.

At Foremost, the price difference between those who drive the least and the most is only $2 monthly, a two percent difference. Conversely, at Nationwide, the drivers who spend the least time on the road actually pay the most by $4 per month, a four percent hike.

Which is cheapest for drivers with high mileage?

If your job requires a long commute or if you enjoy nothing more than riding on the open road, Nationwide may be the spot for you. Compared to Foremost, the insurer saves you $29 each month and $348 per year. So despite both companies outpacing the $78 per month national average, Nationwide is the most cost-effective option between the two.

Which is cheapest for drivers with low mileage?

Nationwide is the more budget-friendly choice for those driving 10,000 miles or fewer. Nationwide’s $102 per month premium for 5,000 miles or less represents a savings of $23 per month versus Foremost. However, both companies are more expensive than the national average at both mileage levels.

Compare Foremost Signature vs. Nationwide Car Insurance by Credit Score

Research has shown a link between good credit and safe driving. So insurance providers use credit when setting rates in every state except California, Hawaii, and Massachusetts, where the practice is prohibited. But even if your credit is imperfect, you can still secure a decent deal. Just head over to Insurify to uncover rates that fit virtually any budget.

The overall trajectories for Foremost and Nationwide are the same. And the national average mirrors the trend. Pricing climbs as the credit tier goes down. At Nationwide, people with poor credit pay 54 percent more than those with excellent credit, compared to 57 percent at Foremost and 96 percent for the national average.

Which is cheapest for good credit?

Drivers with exceptional credit should check out Nationwide. You save $22 per month versus Foremost Signature if you have excellent credit, translating to $264 each year. And for those with good credit, choosing Nationwide means a $29 monthly deal and a $348 yearly price reduction. However, both companies land far above the national average for both credit tiers.

Which is cheapest for bad credit?

Those repairing or building their credit may want to try Nationwide. Nationwide is cheaper for drivers with average credit by $23 per month and $276 per year than Foremost. And, for people with poor credit, Nationwide puts $37 per month, or $444 per year, back into their pockets. Even so, both insurers exceed the national average.

Compare Foremost Signature vs. Nationwide Car Insurance by Driving Record

Insurers usually assess your risk based on your driving record over the last three or five years. So, perhaps the simplest way to get a great bargain is to maintain a clean driving record. But suppose your driving record is peppered with mishaps. In that scenario, you’ll miss out on price breaks that could significantly affect your ultimate price, such as the safe driver discount.

Which is cheapest for good drivers?

For responsible drivers, Nationwide beats Foremost Signature. Customers save $276 per year by paying $102 per month instead of Foremost’s $125 per month. However, both firms fly past the national average of $67 per month, so getting quotes from several providers alongside these two is a promising idea.

Which is cheapest after a speeding ticket?

Just think of speed traps, police officers’ quotas, and the occasional late morning, and it’s no wonder that some folks wind up with tickets. If you have a citation on your record, you should zoom over to Nationwide. The insurer’s rate is $25 per month cheaper than Foremost, amounting to $300 a year. That said, it’s still far pricier than the $88 per month national average.

Which is cheapest after an accident?

When accidents occur, immediate attention goes to injuries, car repair, and dealing with insurance adjusters. The increase in insurance rates usually doesn’t happen until it’s time to renew. When you have an at-fault accident on your record, Nationwide offers the lower price by $76 per month. Nevertheless, Nationwide is $55 per month costlier than the national average.

Which is cheapest after a DUI?

DUI car insurance prices are frequently so exorbitant that some people would rather choose Uber or Lyft instead of driving. However, before you opt for ridesharing, you may want to check out Foremost. Notably, this is the one place where Foremost beats Nationwide. Foremost saves you $39 per month, and it’s even cheaper than the $155 national average.

Foremost Signature vs. Nationwide Car Insurance: What discounts does each offer?

Foremost Signature Discounts

• Electronic payment

• Go paperless

• Homeowner

• Multi-policy (bundling your car insurance coverage with homeowners insurance, renters insurance, or life insurance)

• Multi-vehicle

• Pay in full

• Preferred driver

• Safe driver

Nationwide Discounts

• Accident-free

• Anti-theft device

• Automatic payments

• Defensive driving

• Good student

• Multi-policy

• Safe driver

• SmartMiles

• SmartRide

Our Methodology and How We Compared Foremost Signature and Nationwide

The car insurance quotes provided in Insurify’s insurance company comparison guides are based on the analysis of over 50 thousand insurance quotes from 500 ZIP codes nationwide. Insurify’s data science team performs a comprehensive analysis of factors car insurance providers weigh to calculate rates, including driver demographics, driving record, credit score, desired coverage level, and more to give representative samples.

Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating calculated by weighing multiple factors that reflect the quality, reliability, and health of an insurance company.

Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews.

With the above insights and ranking methods, Insurify is able to offer car insurance shoppers a window into how insurance providers compare to one another in terms of both cost and quality.

Frequently Asked Questions