The “Nationwide is on your side” slogan sure sounds friendly and reassuring, but does it paint an accurate picture of the company? If you are looking for car insurance, you’ve probably run into numerous Nationwide insurance reviews left both by satisfied and angry clients. And that can be confusing. So the best course of action is to turn to insurance experts for advice. Our in-depth analysis will help you decide.
Nationwide has a long tradition. It was founded in 1926 in Columbus, Ohio and it now operates in 46 states. It initially sold insurance to farmers, but it grew to become one of the largest US insurance companies. Nationwide is a mutually owned company, meaning the policyholders own it.
It is ranked 25th on Fortune’s 2021 list of the “100 Best Companies to Work For.” Nationwide insurance claims it treats its employees fairly, and the evidence shows it is true. It also claims to be the best insurer. Is that true? We’ve conducted an in-depth analysis to find out.
We have studied the ratings of industry experts and customers alike to determine if Nationwide is among the best options available.
Nationwide Auto Insurance Review
Nationwide offers affordable coverages for safe drivers, many discounts, and an intuitive website and mobile app. However, it’s expensive, and its customer service is average. It’s not the worst choice, but you can do better.
- Great discounts when the entire family is insured
- Good for safe drivers
- Good for those with a new car
- Good for those with a classic/collectible car
- User-friendly online tools that let you manage your policy
- It is also the largest pet insurer in the country
- Average customer service
- Among the more expensive options
- The company was recently sued by customers and lost
- The company sometime uses aftermarket parts for repairs
Nationwide Car Insurance: Product Overview and Features
The company has been a force to be reckoned with in the insurance industry for a while, meaning that it has great financial stability, which is also confirmed by the Fortune 500 list, where it held 76th place for the year 2021.
Nationwide sells auto insurance in all US states except Hawaii, Alaska, Massachusetts, and Louisiana (meaning they are not nationwide after all). The prices it offers tend to be on the expensive side, while customer service generally gets average ratings in most Nationwide auto insurance reviews.
Nationwide also offers banking services. Thanks to its close partnership with Axos Bank, Nationwide can provide additional services such as an affordable car or home loans, you can open a savings account, etc. In a nutshell, you can get all of the services you would get at a regular bank, but they are available only online.
Axos Bank (formerly Bank of internet USA) was founded in 1999, and it was one of the first internet banks in the world. When it comes to Nationwide auto loans, reviews show that people are generally happy with the service.
Nationwide’s OnYourSide feature stands out as a fantastic way to save a lot of money and make the insurance experience feel custom-tailored to your needs. The company also offers smooth online tools and a great mobile app that lets you view your policy data, request a quote, file a claim, ask Nationwide insurance for towing, etc.
Nationwide Auto Shopping Service
Thanks to its partnership with TrueCar, Nationwide can offer you access to a trusted certified dealer network, where you can buy new or used cars at the lowest prices on the market. You can also get free TrueCar vehicle reports, discounts for insurance, etc. Combined with loans Nationwide offers through Axos, it is a great, one-stop experience. You can do everything through Nationwide—choose a car, finance it, and insure it.
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Nationwide Auto Insurance Signature Feature
Nationwide’s OnYourSide review is an assessment of the insurance policy conducted by a specialist from the company. This helps clients fully understand their coverage, make sure that it covers everything they care about and verify they are getting the most out of the company’s discounts.
Nationwide especially recommends having these reviews conducted when clients expect a life-changing event, like buying a new house or getting married. Often during these events, clients need to modify their coverage. In most cases, reviewed clients get a lower premium or broader coverage for the same price.
Nationwide Insurance reviews conducted by financial organizations all confirm that the company has excellent financial strength. It’s one of the biggest US insurers, and it has A. M. Best rating of A+ (Superior). The S&P rating is also excellent, A+. Nationwide holds 76th place in the Fortune 500 list for 2021. All this data means that Nationwide certainly has good financial footing to pay claims in case an accident happens.
Nationwide Insurance Coverage – Types of Insurance Offered
Nationwide offers the options typically found in the industry, such as collision, comprehensive, property damage liability, bodily injury liability, medical payments, personal injury protection, and underinsured/uninsured motorist protection. We can’t say that the company is the champion in any of these categories, but it is absolutely solid in all of them.
This alternative lets you combine the different parts of comprehensive, collision, and liability coverage to get the option that suits your needs the most.
Nationwide Roadside Assistance
This is a charged add-on that covers the expenses of roadside repairs, towing, and locksmith services. Nationwide offers two options here with different limits: Basic and Plus. If you want this coverage to be automatically included with your insurance policy, check AAA insurance.
In case your car is totaled in an accident, it pays the difference between the actual cash value and the amount left on your loan or lease.
Identity Theft Coverage
This interesting and very useful option (especially these days) helps you in case you become a victim of identity theft. The process is simple—you file a claim for lost wages and child/elderly care, Nationwide insurance reviews the claim, and you get reimbursed for your expenses.
New Car Replacement Coverage
If you own a car less than three years old, it will be replaced with a new equivalent model in case of total damage.
Amazon Alexa Assistant
This is another great feature if you own an Alexa-enabled device. You can use the virtual assistant to help you learn about insurance products, get a Nationwide auto insurance quote, etc. If you have SmartRide, you can even get driving information.
Rental Car Expense
This coverage reimburses the costs of a rental car or other form of transportation while you wait for your damaged vehicle to be repaired.
Rental car expenses are not the only means of transport covered – you can also get reimbursed if you take a taxi or public transport to work.
Nationwide Customer Service
The company’s rating by the Better Business Bureau is an excellent A+. Furthermore, the company holds an average rating of 3.74 out of 5 stars, which are excellent results. It also has an excellent NAIC ratio, which is 0.41. This ratio indicates how many complaints the company receives, compared to its size. The lower the number is, the better the results are. Nationwide insurance ratings are excellent considering that one of the biggest names in the industry, Geico, has a rating of 0.74.
Customer satisfaction is a place where the company could use some improvement, even though it doesn’t receive many complaints. J.D. Power, an authority that ranks auto insurance companies in the aspects of claims processing and insurance shopping, gives Nationwide just an average score. The rating is based on Nationwide insurance reviews left by clients.
One of the most common complaints was about the inconsistent and unresponsive customer service agents. The company was also accused several years ago of using aftermarket parts instead of manufacturer’s replacement parts when repairing vehicles.
Additionally, the many lawsuits Nationwide has faced pose some concerns. It had to pay $18 million in fines in 2014 because a Pennsylvanian judge ruled that the company intentionally.
Nationwide Insurance Review: Discounts
This company offers several types of discounts to its customers, although not as many as some of its competitors. But, it does make up for it by offering many opportunities for bundling, as you can insure pretty much anything here—owned or rented home, all kinds of land and water vehicles, pets, weddings, travels, etc.
By getting insurance here, you will also save time because you will find everything in one place. Here are some of the Nationwide insurance discounts:
SmartRide Discount – If you sign up for this program, Nationwide will install a tracking device in your car, which monitors how safely you drive and if you often drive at night. If the company deems you a safe driver, you can get up to a 40% discount. And the good news is that just by signing up, you get 10% off.
It doesn’t hurt to try because there are no consequences if you don’t satisfy the criteria. Nationwide won’t cancel your policy or raise your premium if it doesn’t deem you as a safe driver.
Paperless Documents – If you handle all of your insurance documents online, you can get a discount. The planet will thank you for it, too.
Accident Forgiveness – Everyone deserves a second chance. This is an optional add-on, which stops your rate from increasing after your first at-fault accident.
Nationwide Total Loss Deductible Waiver – In case your vehicle is totaled, the physical damage deductible (comprehensive or collision) will be waived.
Vanishing Deductible – This discount reduces your deductible for each year of safe driving by $100. The maximum reduction is $500.
Bundle Discount – This option allows you to save up to 20% if you also have life, home, or other insurance with the company.
Advance Quote Discount – If you get a Nationwide quote at least eight days before the starting date of your policy, you can get a discount of up to 5%.
Accident-Free Discount – A record of safe driving for at least five years can get you a discount.
Safety Features – If your vehicle has anti-theft devices installed, you can get a discount. Additionally, if your car is fitted with factory airbags, you can get 30% off your medical payments coverage.
Affinity Organizations Discount – You can get a lower Nationwide car insurance quote if you are a member of a partner organization.
Farm Bureau Discount – This discount reflects Nationwide’s roots. You can save up to 10% if you are a part of the Farm Bureau.
Defensive Driving Discount – If you take a defensive driving course, you can save up to 10%.
Plenti Program – This is a loyalty card that can get you points and discounts with some major brands such as AT&T, ExxonMobil, Macy’s, Rite Aid, Direct Energy, Enterprise Rent-A-Car, and Hulu. According to Nationwide reviews left by clients, they find this perk very useful.
Loyalty Discount – If you’ve had your insurance with Nationwide for at least three years, you can get up to 5% off, and if you’ve been with the company for at least five years, the discount is 10%.
Good Student Discount – If you’re a student, and you have good grades (B or higher), you can get a discount.
Nationwide Insurance Review – the Rates
Nationwide is not the cheapest insurance on the market, nor does it try to be. The prices are a bit above average. They are definitely not a deal-breaker, but they won’t astonish you either. What makes Nationwide a solid choice is a possibility of lowering those initial prices by bundling insurance.
That’s where an interesting feature ThreeSixZero comes in. Basically, you can get lower nationwide insurance rates if you explain your situation to the company – where do you live, how you go to work, all about your kids and pets… Once Nationwide analyzes your situation and surroundings, it creates a customized plan that will cover your every need — 360 degrees of protection. Of course, you can choose what you want insured and the amounts.
Now, a bit more about the prices – as we’ve mentioned earlier, our Nationwide auto insurance review shows that it is only slightly pricier than its competitors. For example, according to our calculations it is only $20 above the monthly average price for a 40-year-old driver. Nationwide’s monthly premium was $255, while the average value for more than 15 companies we tested was $235.
People who are looking for the cheapest option may think they should stay away from this company. However, until you get a Nationwide insurance auto quote, you can never be sure which discounts apply or exactly how much the premium will be. And if you know some excellent insurance agents who’ve been bringing good business to the company for a while, you can rely on them to do some magic with the premium price.
Nationwide vs. Allstate
Allstate came as only a slightly cheaper option, meaning both options fall on the expensive side. When it comes to customer service, both companies score 3 out of 5 stars in the J.D. Power ranking in claims satisfaction study.
While there is no advantage in the way Nationwide handles car insurance claims, it beats Allstate in the insurance shopping area, scoring 3 stars out of 5, compared to Allstate’s poor rating of 2 stars out of 5.
However, Allstate offers more options for safe drivers, as well as guaranteed claims satisfaction, meaning you will get a refund if you aren’t pleased with the way your claim was processed. Both companies provide a high number of discounts overall, and when choosing between these two, perhaps the best course of action is to see where you’re eligible to get the most out of those discounts.
Nationwide vs. State Farm
State Farm comes as a cheaper option than Nationwide, being in the middle of the pack when it comes to prices. When customer service is concerned, both companies have the same score of 3 out of 5 stars in J.D. Power’s rating in claims satisfaction and shopping study.
Nationwide does offer more discounts than State Farm, while also providing more coverage options and additional perks. If you are not satisfied with your insurance, it is easy to cancel with both insurers.The Nationwide insurance cancellation process is about the same as the one with State Farm, but the cancellation is a bit easier because you don’t have to talk to an agent.
When deciding between these two companies, it comes down to choosing between cheaper standard auto coverage and a more expensive option with a lot of added benefits.
Nationwide vs. Travelers Insurance
Both companies also share the “Superior” financial rating awarded by A. M. Best, meaning they certainly have the financial strength to pay claims. In the customer service department, both Travelers and Nationwide car insurance reviews conducted by J.D. Power showed they deserve a score of 3 out of 5 stars in the claims satisfaction and shopping study.
Both companies offer a similar number of discounts, but they cater to different audiences. For example, Travelers has a discount for owners of electric and hybrid cars, which Nationwide does not. Perhaps the best course of action is to see where you can get the discounts that best suit your needs.
Nationwide vs Geico
When weighing the benefits, it is just a matter of personal preference. Geico is a good option because it has solid customer satisfaction ratings and a wide array of discounts, especially if you are a government employee.
Both companies offer discounts to associated group members, have similar prices and similar discounts. Geico has slightly better customer satisfaction ratings. So if you are a government employee who likes to be pampered, this could be a good choice. On the other hand, Nationwide insurance app is a bit better than Geico’s.
Erie, Progressive, Auto-Owners and Amica Mutual also score high in some of the best auto insurance reviews. Erie is an especially interesting option. It was the best ranked company in the North Central region in the 2021 J.D. Power customer service study. Furthermore, it came second in the Southeast region. And finally, Progressive insurance is a good option for high-risk drivers while still offering competitive rates overall.
Expert Thoughts – Summary of Nationwide Auto Insurance Reviews
Nationwide is a very sound choice. OnYourSide review is a great feature, and if you can get past only average customer support, you will be quite happy with your choice. Of course, numerous discounts will also help with that. What makes Nationwide especially suitable for pet owners is the fact that the company is one of the biggest pet insurers in the country.
By choosing Nationwide, you can insure absolutely everything and everyone in one place. You don’t have to go from one insurance company to another. That saves time and nerves. In today’s world, it’s one of the perks we don’t see very often.
People Also Ask
Is Nationwide a good insurance?
Yes, Nationwide is a good auto insurance. With 6 million policies written, it covers between 2% and 3% of the total US market. Although it’s not the best in any category, it is solid in all of them and provides a good value for the money. The prices are slightly above the average but can drop significantly if you bundle up your car and home insurance or use some of the many discounts available.
Why is Nationwide Insurance so cheap?
In general, Nationwide has prices that are just a percent or two above the national average, but it has many discounts available. Practically anyone can fit in at least one category discount, and many customers can be eligible for multiple price reductions. The end result is a price that is much lower than the initial quote. We can say that Nationwide is very affordable for drivers with poor credit but expensive for young drivers.
What is Nationwide Insurance Rating?
Nationwide Insurance’s A. M. Best rating is A+ or Superior. This is the second-best rating possible and is a strong indicator that the company is financially solid and fully capable of paying the claims. The NAIC rating is 0.53, indicating that Nationwide has received fewer complaints than the national average for a company of that size.
The company also has an above-average JD Power Rating, with a score of 876 out of 1,000. This places it above average when it comes to overall customer service and satisfaction.
Which is better, Nationwide or State Farm?
The biggest difference is the size. While State Farm is the largest car insurer in the US, with more than 14% of the market, Nationwide holds just between 2% and 3%. But Nationwide has a better A.M. Best financial rating, Superior, while State Farm has an Excellent rating. Nationwide is cheaper in general, but it all depends on every driver’s specifics. But we can say that it’s much more affordable for drivers with very poor credit.
Is Nationwide or Progressive better?
Progressive has four times higher market share than Nationwide, 12% to 3%. The A.M. Best ratings are Superior for both companies. When it comes to J.D.Power rating, Nationwide is better ranked, with above-average customer satisfaction, while Progressive is slightly below the average. Progressive is more affordable for risky drivers, while seniors should choose Nationwide. Although we can agree with most Nationwide Insurance reviews about the usefulness of their online tools, we have to admit that Progressive is slightly better in that department.