Nationwide Car Insurance Reviews
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Nationwide Car Insurance Review
Overall, Nationwide car insurance gets a pretty good score of 9.1 out of 10. This rating is based on different important things like how much it costs, what it covers, how people feel about it, how easy it is to get, and what the experience is like for customers.
Here’s a breakdown of the scores in a simpler way:
| Aspect | Score |
|---|---|
| Overall Rating | 9.1 |
| Industry Standing | 8.5 |
| Availability | 9.8 |
| Coverage | 8.9 |
| Cost | 9.7 |
| Customer Experience | 8.9 |
Is Nationwide a Good Insurance Company?
Established in 1925 and headquartered in Columbus, Ohio, Nationwide is considered a reliable insurance company. It holds an A+ rating from the Better Business Bureau (BBB) and boasts a strong financial position with an A+ (Superior) rating from AM Best.
For most drivers, Nationwide proves to be a good choice. It stands out by offering unique coverage options and innovative programs that can help reduce the cost of car insurance. According to the National Association of Insurance Commissioners (NAIC), Nationwide wrote over $5.5 billion in premiums in 2022, capturing a 1.99% market share and ranking as the tenth-largest insurance provider in the U.S.
Let’s take a closer look at some key features and offerings from Nationwide:
- Financial Strength:
- AM Best Rating: A+ (Superior)
- Coverage Options:
- Nationwide provides a variety of add-on coverage options, such as gap insurance and accident forgiveness.
- Discount Opportunities:
- Nationwide offers numerous discounts and usage-based programs, allowing drivers to save on their insurance premiums.
Nationwide Pros and Cons
When considering Nationwide for your car insurance needs, it’s helpful to weigh the advantages and disadvantages. Let’s break it down in a simple way:
Pros:
| Aspects | Details |
|---|---|
| Availability | Nationwide provides car insurance coverage in 46 states. |
| Options Galore | They offer a variety of standard and add-on insurance options for your car. |
| Tailored Coverage | Nationwide provides a unique feature called usage-based insurance, allowing personalized coverage. |
| Solid Ratings | The company holds an impressive A+ rating from both the Better Business Bureau (BBB) and AM Best. |
Cons:
| Aspects | Details |
|---|---|
| Cost Consideration | On the downside, Nationwide tends to have higher average insurance costs. |
| Customer Feedback | Reviews from customers are mixed, meaning experiences may vary. |
Nationwide Car Insurance Coverage
When deciding on your car insurance provider, it’s essential to weigh these factors based on your specific needs and preferences.
For almost a century, Nationwide has been helping drivers by offering a variety of insurance options. It’s important to know that each state has its own rules about the kinds of car insurance you need and the minimum coverage you must have.
Let’s break down the standard types of insurance you can get with a Nationwide auto insurance policy:
- Bodily Injury Liability (BI):
- This helps cover other drivers and their passengers if you’re at fault in an accident.
- Property Damage Liability (PD):
- Covers other vehicles involved in accidents you cause.
- Collision Insurance:
- Takes care of your vehicle’s damage, no matter who is at fault in the accident.
- Comprehensive Insurance:
- Protects against various damages like floods, fires, fallen tree branches, theft, and vandalism.
- Personal Injury Protection (PIP):
- Covers medical expenses, lost wages, and death benefits for you and your passengers, especially in no-fault states.
- Medical Payments (MedPay):
- Takes care of medical expenses for you and your passengers.
- Underinsured/Uninsured Motorist Coverage (UIM/UM):
- Protects you if you’re in an accident with a driver who has little or no insurance.
In some states, you might only need liability insurance. They might express it as something like 15/30/10, which breaks down to $15,000 in bodily injury liability per person, $30,000 in bodily injury liability per accident, and $10,000 in property damage liability per accident.
How much does Nationwide insurance cost?
Currently, the average cost for a 6-month car insurance policy nationwide is $880. If we compare this with Progressive, which is around $738, Progressive is approximately 16% cheaper than the average policy, making it one of the more affordable options for auto insurance. It’s also noteworthy that Nationwide is considered one of the more budget-friendly choices for home insurance.
Here’s a breakdown of how Nationwide auto insurance fares against other leading insurers in terms of average monthly premiums:
| Company | Avg. Monthly Premium |
|---|---|
| Travelers | $112 |
| Nationwide | $123 |
| GEICO | $129 |
| State Farm | $131 |
| Chubb | $148 |
| Farmers | $149 |
| Progressive | $157 |
| The Hartford | $201 |
| Allstate | $201 |
Like with any insurance provider, the cost of Nationwide car insurance varies based on your age, generally becoming more affordable as you get older. The following table outlines Nationwide’s auto insurance rates across different age groups:
| Age Group | Avg. Monthly Premium |
|---|---|
| Teens | $404 |
| 20s | $170 |
| 30s | $123 |
| 40s | $118 |
| 50s | $112 |
| 60s | $112 |
These figures give you an idea of what to expect based on your age group when considering Nationwide as your insurance provider.
Discounts Available with Nationwide
Apart from the programs we mentioned earlier, Nationwide provides several ways for you to save money, and these are quite competitive compared to other car insurance companies. Here’s a rundown of the discounts and rewards you can benefit from with Nationwide:
- Multi-Policy Discount: If you bundle your home and auto insurance with Nationwide, you could enjoy an average savings of about 20%.
- Good Student Discount: If you or someone covered under your insurance policy is between 16 and 24 years old and maintains a B average or higher, you qualify for a discount.
- Safe Driver Discount: If you manage to avoid major accidents or violations for at least five years, you’ll earn a discount.
- Easy Pay Sign-Up: Link your bank account to your Nationwide policy, and you can receive a discount.
In addition to these, Nationwide also offers various driver-based discounts, such as those for Affinity memberships, completing defensive driving courses, maintaining an accident-free record, and having anti-theft devices installed in your vehicle.
Nationwide Car Insurance FAQs for Drivers
Absolutely, Nationwide is a great choice for drivers seeking thorough insurance coverage. They provide six standard insurance plans, and drivers can even customize their coverage with extras like roadside assistance and gap coverage.
Nationwide is financially strong and has earned an impressive A+ rating from AM BEST for its ability to fulfill claims. However, J.D. Power rates their auto claims satisfaction as Below Average.
Yes, Nationwide does offer gap insurance. This type of coverage is handy as it steps in to cover the difference between what your car is worth (actual cash value) and the remaining loan or lease balance if your car gets totaled or stolen. This optional add-on is especially useful for newer cars that depreciate quickly.
Nationwide’s pet insurance covers a range of incidents, including accidents, illnesses, and routine wellness procedures like annual exams and vaccinations. Unfortunately, it doesn’t cover pre-existing conditions or certain non-medical expenses such as waste disposal and boarding.
About the Author
Alex Huber is a content writer for Atoz Insurances and he is a very experienced and well-rounded freelance content writer who specializes in the insurance and finance niches. His writing is engaging and informative, and he has a strong understanding of the industries he writes about.