Nationwide Insurance Review

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Nationwide is one of the largest insurance and financial services businesses in the world. The company offers car insurance, homeowners insurance, life insurance, pet insurance, dental insurance, and even wedding insurance.

Nationwide’s financial division offers mutual funds, annuities, ETFs, and retirement plans (401ks).

They even have a banking division that provides checking accounts, savings accounts, money market accounts, certificates of deposit (CDs), individual retirement accounts (IRAs), and mortgages.

In this post, I’m going to give you an overview of Nationwide as a whole. I’ll also shine some light on two of their most popular services: auto insurance and homeowners insurance.

What is Nationwide?

nationwide insurance reviewNationwide, which is officially known as the Nationwide Mutual Insurance Company, is a conglomerate of dozens of different insurance and financial services companies located throughout the U.S. Collectively, these affiliates form Nationwide, which employs over 34,000 people and is ranked #73 on the Fortune 500 list.

Founded in 1925 as the Ohio Farm Bureau, the company’s founders aimed to provide auto insurance to farmers, who felt that they deserved better rates than city folk (who tended to get in more accidents than country folk)

In 1955, as they continued to expand throughout the U.S., the company’s name became Nationwide. The famous “Nationwide is on your side” jingle was created in 1969 and still rings in our ears today thanks to celebrity endorsements by Peyton Manning, Brad Paisley, and Julia Roberts.

If you’re the type of person who prefers working with an insurance agent in person, you’ll most likely find one in your area. Nationwide has thousands of branches located across 49 states in the U.S. They have over 2,000 local agents in California alone.

What Insurance Does Nationwide Offer?

Nationwide offers a vast array of insurance products, and their home and auto are the most well known.

Nationwide Insurance Products:

Now that we have an understanding of what all insurance products Nationwide has to offer, let’s take a closer look at their auto and homeowners insurance services.

Nationwide Car Insurance

As one of the largest auto insurance providers in the U.S., Nationwide offers a wide range of coverage options that go beyond what smaller agencies might offer.

Nationwide Car Insurance Options:

  • Bodily Injury Liability (BI) is required by law in all states and pays for any medical bills (up to your policy limit) that result from an accident you cause.
  • Property Damage Liability (PD) is required by law in all states. PD covers the costs of any damage you cause to another person’s vehicle or property. PD also pays for any legal defense fees that result from an accident that you cause.
  • Personal Injury Protection (PIP) is required in some states and optional in others. PIP covers the cost of some medical expenses, rehabilitation costs, and—in a worst-case scenario—even funeral costs.
  • Comprehensive is an optional coverage that pays for your vehicle repair in the event it is damaged in a non-collision related incident—like vandalism, a fire, or a tree limb falling on it.
  • Collision is an optional coverage that pays for your car repairs if you have been in a moving accident—whether or not you were at fault. If you drive an old beater, you probably don’t need this. However, if you drive a nicer car, you should probably get it.
  • Gap coverage is an optional insurance that pays for an amount you may owe if your car gets totaled, and the insurance company reimburses you for less than what you owe on your car loan.
  • Uninsured motorist is an optional coverage that pays for your car repairs, property damage, or medical bills in the event that another driver causes and accident and doesn’t have insurance.
  • Roadside Assistance provides 24-hour help if your car breaks down, gets stuck, runs out of gas, needs a jump start, or gets a flat tire. Nationwide offers two levels of Roadside Assistance, as follows:
  • Nationwide Roadside Assistance Basic covers a tow up to 15 miles and a locksmith service up to $100.
  • Nationwide Roadside Assistance Plus covers a tow up to 100 miles and also provides trip interruption service up to $500, which pays for your hotels or alternate transportation costs if your car breaks down over 100 miles away from your home.
  • Classic car insurance is offered through Hagerty and covers your classic or antique pride and joy.
  • SmartRide is a new usage-based feature that Nationwide offers. You can get a 10% discount on your policy just for enrolling and up to a 40% discount if you prove to be a safe driver. If you enroll in SafeRide, Nationwide will send a small telematics monitoring device that you plug into your car. The company then monitors your driving behavior and adjusts your rates based on how safely you drive.
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Nationwide Home Insurance

Most mortgage providers require you to purchase homeowners insurance in order to secure a loan.

The Basics that Nationwide Home Insurance Covers:

  • Dwelling Coverage: pays for repairs to your home, built-in appliances, and wall-to-wall carpeting.
  • Contents Coverage: pays for the repair or replacement of your personal property, electronics, and furniture.
  • Personal Liability Coverage: pays for legal expenses that you might incur if you are sued due to an accident that occurs on your property.
  • Medical Payments to Others: will pay for medical bills or funeral expenses if someone experiences a serious injury in your home or on your property.
  • Law Insurance Coverage: will pay for any additional expenses that might result from bringing your home up to modern building codes, if it was previously not up-to-code and has to be repaired due to a qualified incident.
  • Other Structures Coverage: includes repair or replacement of detached structures on your property—like your detached garage, barn, or storage shed.
  • Loss of Use Coverage: pays for any increases in living expenses that you might experience as a result of having to relocate from your home while it’s being repaired after a qualifying event (like a fire).
  • Credit Card Coverage: pays for any damages you experience due to fraudulent credit card, ATM, or check transactions.
  • Brand New Belongings: will pay you the difference between what your used items were worth at the time of a loss and what a similar new item costs at the store.
  • Better Roof Replacement: ensures that if your old roof needs to be replaced after a covered incident, the new one will be better and stronger.

 

Nationwide’s Optional Home Insurance Coverages:

  • Identity Theft Coverage: protects your personal data online.
  • Valuables Plus: covers the repair or replacement of your valuables—such as artwork, jewelry, and expensive musical equipment.
  • Replacement Cost Plus: will pay up to 20% more than your property coverage amount if your home is completely destroyed during a qualified event (like a tornado) and needs to be rebuilt.
  • Water Backup: provides coverage for damage due to sump pump or sewer backup.
  • Earthquake Insurance: will pay for damages to your home due to—you guessed it—an earthquake.
  • Flood Insurance: will cover any repairs due to a flood and is required by some lenders if you live close to water.

 

Nationwide Discounts

Nationwide’s pricing is on pace with leading insurance providers.

It’s not the cheapest insurance option, but you’ll have access to customer support and a wide range of features and coverage options that smaller firms most likely can’t offer.

That said, Nationwide does offer a wide range of discounts on both auto and homeowners policies.

If you’re looking to get the best deal on your auto and home insurance policies, your best bet is to bundle both together with Nationwide.

Getting Started

Getting rates from Nationwide is made simple online or over the phone. Here are the steps you would need to follow online:

Nationwide Car Insurance Quotes

To sign up for auto insurance, enter your zip code.

You’ll then be asked to enter your first name, last name, date of birth, home address, email address, and phone number. You’ll also have to consent to being contacted by the Nationwide Family of Companies.

Then it’s time to enter the details about your car(s).

On the next step, you will be asked to enter information about the driver(s) on the policy.

Next, you’ll be asked a few questions about your current insurance policy, if you have one. You will also have to indicate whether your own or rent your home and the level of bodily injury coverage that you might want.

After answering just a few more questions, your quote will appear on your screen. Easy breezy!

nationwide car insurance

Nationwide Home Insurance Quotes

To sign up for homeowners’ insurance, enter your zip code to get started.

Once you’ve done that, you’ll have to answer a quick question that weeds out any potential complications with your quote.

Next, you’ll be asked to enter your first name, last name, date of birth, marital status, home address, email address, and phone number. You’ll also have to provide consent to being contacted by the Nationwide Family of Companies.

After that’s done, it’s time to enter the details about your home.

Next, Nationwide asks if you are a former employee of the company, and also how long you’ve been with your current homeowners insurance provider. You’ll also be asked if you have moved or changed your name within the past six months.

After clicking continue, voila! Your quote is displayed immediately. The whole process took me about five minutes, which is pretty awesome.

nationwide home insurance

 

Nationwide Insurance Security

Nationwide claims that it is dedicated to securing your personal data and account information.

They don’t offer any information on their website about how they protect your accounts, but they do offer some cybersecurity tips that you can read about if you’re so inclined.

Customer Support

Nationwide offers customer phone support at 1-877-On-Your-Side (1-877-669-6877). Their phone support hours are from 8 a.m. to 10 p.m. ET from Monday through Friday. On the weekends, you can call then from 9 a.m. until 7:30 p.m. ET.

You can also send them an email or chat with your local agent.

As for the quality of the customer support you’ll receive, I’m seeing some mixed reviews. For example, in JD Power’s 2019 customer satisfaction study, Nationwide was ranked among the worst for auto insurance and in the bottom third for home insurance.

Pros and Cons of Nationwide Insurance

Pros

  • Wide range of coverage options for both homeowners and auto insurance
  • Many discounts available, especially if you bundle your policies together
  • Local agents available in almost every corner of the U.S.

Cons

  • Customer support isn’t available 24/7
  • Low customer satisfaction rankings by JD Power

Alternatives to Nationwide Insurance

When it comes to large insurance companies that offer both homeowners and auto coverage, there are some popular alternatives.

Nationwide Alternatives:

Nationwide Insurance FAQs

Is Nationwide a Good Insurance?

Yes. Nationwide is a good insurance company that’s been in business for almost 100 years.

Is Nationwide Insurance Going Out of Business?

No. I’m not seeing anything about Nationwide going out of business. The company appears to be doing well and has achieved Fortune 100 status.

What Discounts Does Nationwide Offer?

Nationwide offers a huge variety of discounts. Their auto insurance discounts include lower rates for having multiple policies, remaining claims-free, being a safe driver, being a good student, taking a defensive driving course, and more. Nationwide’s home insurance discounts include lower rates for having multiple policies, installing protective devices, completing home renovations, living within a gated community, and more.

Is Nationwide Insurance For You?

Suffice it to say that Nationwide has some type of insurance product for just about every situation. If you’re looking to get your home and auto insured by an industry leader that also has competitive pricing, it makes sense to get a quote from them.

However, if you’re the type of person that easily gets frustrated with customer support, Nationwide’s low customer satisfaction ratings might be something to consider.

When you do ultimately sign up for a policy, make sure to do your homework and take advantage of any and all discounts that might apply to your situation. It’s also a good call to get a quote from a few companies so you can see which one has the best deal.

Here’s to finding a home and auto insurance policy that makes sense for you!

Nationwide Insurance

Overall Rating

9.1

Bottom Line

Nationwide has some type of insurance product for just about every situation. If you’re looking to get your home and car insured by an industry leader that also has competitive pricing, it makes sense to get a quote from Nationwide!

Pros

  • Wide Range of Options
  • Numerous Discounts
  • Local Agents Available

Cons

  • Customer Support Availability
  • Customer Satisfaction Ratings

Ease of Use

9.5

Insurance Options

10.0

Customer Support

9.0

Customer Satisfaction

8.0

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