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

Nationwide and Amica are two of Insure.com’s Best Home Insurance Companies for 2024. While both are solid companies, each has pros and cons, and we’ve summarized them here so you can make a side-by-side comparison and find the best fit for your home insurance needs.

Nationwide came in seventh of all the carriers analyzed, with an overall Insure.com score of 3.9 out of 5 stars and a high percentage of customers who plan to renew. Nationwide has an excellent AM Best score of A, indicating financial solvency and ability to pay claims.

Amica earned second place in the survey, with 4.6 out of 5 stars. It is also highly recommended by its customers and has the cheapest rates of all the carriers at $2,000 annually. Amica has a superior AM Best rating of A+.

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

We’ve compiled data on Nationwide and Amica to help you compare these two companies side by side. Based on a survey of Insure.com’s 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 Amica stack up and which company might be the best fit for you.

Which company is best for you depends on what you value most. Amica has the lowest rates of the companies we ranked, well below the national average. However, Nationwide scored better on most of the customer service metrics, including claims handling, making it a good pick if price isn’t your main consideration.

Insure.com comparison of Nationwide vs. Amica

The table below summarizes multiple data points for Nationwide and Amica so you can compare them at a glance. Both companies have high overall ratings on Insure.com’s 2024 Best Home Insurance Companies ranking and comparable customer satisfaction ratings. 

Amica scores a little better in a few of these categories. It has a higher overall Insure.com rating, cheaper rates, and a lower NAIC rating, which means fewer complaints. Amica also has a superior AM Best score. It’s also available in more states than Nationwide.

Nationwide scores slightly higher for customer satisfaction and more customers recommend it to others.

Nationwide vs. Amica: Home insurance overview

The table below shows how each carrier scored in all major categories of the Insure.com Best Insurance Companies ranking, which included a survey of home insurance customers. The percentage of those customers who said they were satisfied in each category is presented here. Nationwide leads the way in most of these categories except for price.

Nationwide vs. Amica: Pros and cons

The chart below compares some of the pros and cons of Nationwide and Amica, according to our analysis of the data and survey results.

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

The table below shows the rates for different coverage levels for Nationwide and Amica. For all coverage levels, Amica offers the cheapest annual rates, even as you get into $1M in dwelling coverage.

Nationwide vs. Amica: Rates by coverage level

Nationwide vs. Amica: Rates by credit history

Insure.com compiled rates for different credit scores in the table below. Amica has the cheapest rates for all credit score categories, though Nationwide doesn’t jump up quite as high as some other carriers for fair and poor scores.

Nationwide vs. Amica: Customer satisfaction

According to our survey of insurance customers for the 2024 Best Insurance Companies ranking, 74% of Nationwide customers report being satisfied, while 70% of Amica customers said the same.

Nationwide vs. Amica: Discounts

The table below shows what discounts each carrier offers. Nationwide has the most discounts in total; however, which discounts apply to you will determine which is the better choice.

Which has a bigger auto and home discount?

One of the most common types of discounts that insurance companies offer is auto and home bundling, which involves buying both policies with the same carrier. The table below shows that both carriers offer an 18% bundling discount.

Nationwide vs. Amica: Claims processing

Nationwide scored higher in this category — 77% of customers surveyed said they were satisfied with how their claims were handled. This is an important factor when deciding which carrier to choose.

The bottom line: Nationwide vs. Amica

Nationwide and Amica are two solid, financially stable companies. Amica has lower prices and a lower complaint ratio while Nationwide has higher customer satisfaction scores and more discounts. Neither is available in every state, so that may factor in your decision.

Comparing carriers and shopping around is the best way to get the best rates and find a carrier that best fits your 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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