When you read the title of this post, you probably heard the song in your head, “Nationwide is on your side.”
Nationwide is no “small fish in a big pond;” they are one of the biggest carriers out there.
And they hold a considerable portion of the market.
Having auto insurance is the law, but paying massive premiums for under-performing coverage isn’t.
We’ve seen insurance rates that should be against the law.
Let’s take a look at Nationwide to see how it stacks up against competitors.
History of Nationwide
Compared to other big carriers, Nationwide is considered young at only 85 years old.
The company was born in 1925 with the intention of selling quality insurance for cheap rates to farmers in Ohio.
30 years later, they officially changed their name from Farm Bureau Mutual to Nationwide Insurance.
Over the past 85 years, they’ve built their business to more than just farms in Ohio. In 2017, they had more than $46 billion in sales and written premiums.
One factor Nationwide prides themselves on is giving back to the community.
Since the year 2000, the company has given over $430 million to nonprofits through their Nationwide Foundation.
As a company, they have partnered with several major charities, including Feeding America, United Way, and the American Red Cross.
Auto Insurance from Nationwide
If it has a motor, more than likely Nationwide has an insurance plan for it. They have several types of vehicle coverage, but we are going to focus on their bread and butter, the auto insurance plan, to tell you everything you need to know about auto insurance.
To get started, let’s look at their primary coverage.
Of course, they offer all the traditional parts to meet the state’s requirements.
In regards to personal auto coverage, they have the following:
- Bodily injury liability
- Property damage liability
- Personal injury protection (PIP)
- Medical payments
- Under or uninsured motorist.
When it comes to vehicle protection, they have all of the standards, collision and comprehensive. They also have several other kinds of vehicle coverage.
You will also get some rental car insurance, towing insurance, and gap coverage.
Not every insurance carrier has these protections in their plans, adding to Nationwide’s appeal.
There are a few additional riders you can add to your basic plan if you want more coverage.
Nationwide has several exciting parts, like their accident forgiveness, vanishing deductible, and total loss deductible waiver.
Let’s look at the accident forgiveness plan.
You’ve probably heard about it on the commercials, but you may not know some of the dirty details.
If you have this added coverage, Nationwide is going to ignore the first at-fault accident you have. This means your rates aren’t going to shoot up.
Nationwide has a cool optional feature, vanishing deductible.
Every year you don’t have an accident or get a ticket, they will give you $100 in deductible credit. You can save up to $500 in deductible.
If you are responsible for an accident after several years, you won’t have to pay the whole deductible.
Lastly, let’s review the total loss deductible waiver add-on.
If you are in a severe accident and your car is completely totaled, then you can have the deductible for the comprehensive coverage waived.
Other Insurance Products Sold by Nationwide
Auto insurance is only one of the dozens of plans Nationwide sells.
In addition to car insurance, they also sell motorcycle, snowmobile, classic car insurance, ATV, RV, boat, and more.
They also sell some less common types of plans, like travel, wedding, and pet insurance.
If you decide to go with Nationwide, they have just about any kind of plan you can think of.
Having all of your plans with one company can be convenient and save you money. Nationwide (like most companies) offers a multi-policy discount.
Advantages of Nationwide
If you’re a safe driver, Nationwide is going to reward you.
Every five years of driving without an at-fault accident, you are going to save.
You could cut your premiums by as much as 20%.
If you decide to buy a plan from Nationwide, you can also use their On Your Side Review.
This tool gives you access to a dedicated agent who will walk you through your policy and all the benefits.
During the On Your Side Review, you can see if you have the right kind of policy, enough coverage, if you’re missing any discounts, and if you should change your coverage.
Another perk of Nationwide is the SmartRide. Their SmartRide program lets you save money by showing safe driving habits.
All you have to do is plug the SmartRide device in your car’s diagnostic slot, and then it will track your driving.
Nationwide is going to review how much you drive, how fast you drive, how quickly you stop, and how quickly you accelerate.
If they think you’re a save driver, you can save up to 40% on your monthly premiums.
Nationwide has a lot of unique discounts you won’t find with other insurance carriers. Here are a few:
- Good student
- Defensive driving
- Easy pay sign-up
- And more
You aren’t going to qualify for every single discount they offer, but most of them are easy to qualify for and can save you 20% or more on your coverage.
Disadvantages of Nationwide Auto Insurance
First, let’s look at premiums size.
There are two groups of people for which Nationwide is nowhere near the best choice: elderly drivers and married couples. In most cases, Nationwide’s quotes for these two groups are going to be around 50% higher compared to some of the other carriers out there.
For other demographics, they have average rates.
Not the cheapest, not the most expensive.
The cost of a Nationwide plan is mainly going to depend on how many of the discounts you can get.
If you don’t qualify for any discounts, they probably aren’t the best choice. In that case, you may want to look at one of Nationwide’s top competitors for auto insurance.
One common complaint policyholders have with the carrier is their customer service.
When combing through reviews of the company, some previous or current customers said they had problems getting answers for their questions.
When looking at customer reviews, you have to take all of them with a grain of salt.
Who knows which representative they were talking to. Not every person is going to work with the same agent, and your experience with the customer service team could be a positive one.
Final Decision on Nationwide
We can’t make any insurance decisions for you. All we can do is give you the info and help point you in the right direction.
We’ve detailed all of the pros and cons, now you need to look at these points and decide if Nationwide is the best choice for you.
Nationwide has a lot of choices, discounts, and an app which makes it easy to make claims on your plan.
On the other hand, they may not be the cheapest, and their customer service doesn’t have great reviews.
There is no perfect company. Every carrier is going to have downsides and disadvantages. You need to figure out which company meets your needs.
If you want to compare Nationwide with some of the other big-name companies, we can help!
Get free auto insurance quotes today!