Nationwide 2019 Auto Insurance Review: Rates, Claims Satisfaction, and Coverage

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Summary:  

With over 90 years in business, Nationwide is the eight largest auto insurance company according to market share with 2.74% of the market. The company services 46 states and the District of Columbia. The company has more than 32,000 employees. Its claims satisfaction rating is slightly below average; however, it possesses a superior level of financial strength to handle claims. Additionally, the company offers a variety of other insurance options which include property insurance, life insurance, business insurance, and more.

Pros:

  • Nationwide is a financially stable company with an A.M. Best Financial Strength Rating of A+.
  • Nationwide offers reasonable rates compared to other large national auto insurance companies.  The average rate for a good driver is $1,509 per year.
  • Nationwide offers a wide selection of insurance options including car insurance, property insurance, life insurance, business insurance, pet insurance, dental insurance, umbrella insurance, identity theft insurance, specialty liability insurance, travel insurance and wedding insurance. Additionally, the company offers investing and retirement options and banking and borrowing options as well.
  • Nationwide offers a vanishing deductible and accident forgiveness.

Cons:

  • Nationwide scored below the auto industry average on its claims satisfaction rating as determined by J.D. Power.
  • Unlike over national insurance companies of its size, Nationwide does not offer coverage for Rideshare such as Lyft and Uber.
  • Many policyholders experience unexplained rate increases.
  • Not available in Alaska, Hawaii, Louisiana, or Massachusetts.

Nationwide is a financial solid auto insurance company that offers reasonable rates to its customers.  Available in 46 states and Washington D.C., the company has 24/7 claims center service. Additionally, the company offers gap insurance, and vanishing deductibles along with the traditional insurance coverage options and a selection of discounts.  Two drawbacks of Nationwide’s car insurance are that the company’s claims satisfaction rating is below the national average and consumers have experienced unexplained rate increases in their policies.

Furthermore, Nationwide offers an array of other insurance coverage in addition to auto insurance.  These insurance types include property, life, business, pet, dental, umbrella, identity theft, specialty liability, travel and wedding insurance.  Moreover, Nationwide offer several retirement and investing options as well as banking options. Thus, Nationwide is a good choice for people who want to get multiple policies from the same company at a reasonable rate.

The Value Equation ($$$)

Price is one of the primary determining factors for consumers when they are searching for automobile insurance.  Nationwide Insurance bases your rates on many of the same criteria as other car insurance companies such as age, location, coverage choices, driving history, and type of vehicle. Financial advisors and insurance agents tend to advise consumers not to purchase the cheapest insurance because it may not meet all your coverage and service need. Furthermore, the cheapest options tend to provide you with only the bare minimum coverage required by your state and may not be enough if you are involved in an accident.  However, consumers are advised to shop around for a good rate that includes the coverage that they need.

To get a quote from Nationwide, you can start an online quote, but to complete the purchase, your quote will be sent to either a nearby agent or the agent of your choice.

Here is a quick glimpse of how Nationwide Insurance’s average premiums compares to 2 other large national providers.

Nationwide Insurance is known for offering a good rate when compared to its large national competitors like State Farm and GEICO, the largest and second largest auto insurance providers in the U.S.

 GEICOState FarmNationwide
Drivers in their 30s$1,218$2,379$1,582
Drivers in their 40s$1,189$1,587$1,151
Drivers with at-fault accident$1,580$1,524$1,475
Drivers with DUI/DWI$2,550$3,854$2,691
Drivers with speeding ticket$1,395$1,983$1,469

Discounts

In addition to their already low rates, Nationwide offers several discounts for which its customers may qualify.  They fall into these categories:

  • Multi-policy discount – consumers who bundle their home and auto insurance with Nationwide save an average of $710 per year.
  • SmartRide Technology – attach a SmartRide to your car, receive feedback to drive safer and get a discount on your auto insurance policy.
  • Safe Driver discount – avoid accidents and major violations for five years to receive discounts.
  • Good student discount – receive a discount for maintaining a B average.
  • Defensive Driving – get a discount for taking a state approved safety course.
  • Anti-theft device – discounts for cars that have certain anti-theft devices.
  • Accident free – discount for not having any accidents on your driving record.
  • Easy Pay Sign-up – get a discount for signing up for easy pay.
  • Affinity Member – get a discount just for being a member of a qualifying organization.
  • Go paperless – get a discount if you go paperless.

Like with other auto insurance companies, the discounts that you qualify for with Nationwide Auto Insurance are mostly determined when you obtain the policy; however, you can add discounts you become eligible for later to save on your rate.  Discounts are determined by a variety of personal factors such as age and driving record. Furthermore, you must remain qualified for the discounts throughout the life of the policy to continue to receive most discounts.

Claims Satisfaction

An auto insurance company’s claims satisfaction rating is just as important as price when searching for a quality insurance company.  Nationwide’s claims satisfaction rating came in at right under the industry average.

How easy is it to file a claim with Nationwide?

What is the average customer experience and satisfaction with Nationwide?

Every year, J.D. Power surveys an estimated 10,000 customers who have filed a claim in the last six months.  Insurance providers are ranked on a 1000-point scale based on the results of this survey. Nationwide falls right below the national industry average of 861/1000 with a score of 858/1000. In comparison, State Farm scored 864/1000 and GEICO scored below the nation average 857/1000.

Coverage Options

CoverageNationwideState Farm GEICO
Liability
Physical Damage
Uninsured Motorist
Medical Payments Coverage
Comprehensive
Collision
Roadside Assistance
New Car Replacement
Rental Reimbursement
Rideshare (Uber/Lyft)X

Other Insurance

Like other large auto insurance companies, Nationwide insures more than just the traditional automobiles.  In addition to cars, trucks, SUV, minivans, and motorcycles, Nationwide insures snowmobiles, classic cars, ATVs, recreational vehicles, boats, personal watercraft, and scooters.

Like other large national insurance companies, Nationwide does not just offer auto insurance.  It also offers property insurance. The company’s property insurance offerings include homeowners insurance, condo insurance, renters insurance, flood insurance and private client insurance.

Nationwide offers business insurance to business owners.  The types of business insurance it offers includes general liability, commercial auto, businessowners policy, professional liability, workers’ compensation, and employment practices liability insurance.  

Nationwide also offers several types of life insurance including term, universal, whole, and variable life insurance.

Other types of insurance that the company offers include pet insurance, dental insurance, umbrella insurance, identity theft insurance, specialty liability insurance, travel insurance and wedding insurance.  Specialty Liability Insurance covers teams, programs, instructors, and events.

In addition to insurance, the company offers investing and retirement options.  These options include annuities, mutual funds, exchange traded funds, life insurance, and retirement plans.

Moreover, Nationwide offers banking and borrowing options which include checking, savings, money market, CDs, IRAs, mortgage, mortgage refinance, auto refinance, and personal loans.

Website Experience

Nationwide’s website experience is among the best in the insurance industry.  The company has a comprehensive website that is easy to navigate. Information about the types of insurance, the coverage options, the discounts, and how to file a claim are very clear and easy to find on the website.  On the website you can get a car insurance quote, file a claim, pay a bill, print ID cards, request changes to your policy and more. Nationwide also has a convenient downloadable app that, in addition to the rest of the features on the website, has a ‘Find My Car’ feature that allows user to locate their car in the parking lot.

The Bottom Line

  • Nationwide is the eighth largest auto insurance company in the United States according to market share with ‘Superior’ financial strength.  It serves 46 states and Washington D.C. Nationwide Insurance does not offer coverage in Alaska, Hawaii, Louisiana, and Massachusetts.
  • Nationwide is known for giving unexplained rate increases to its policyholders.  
  • The company offers a wide array of insurance types including some that you may not find at all the large insurance companies such as pet insurance, dental insurance, identity theft insurance, specialty liability insurance, travel insurance, and wedding and event insurance.
  • Nationwide’s claims satisfaction rating is just below the industry average.
  • Nationwide, however, does offer reasonable rates on auto insurance with all the traditional coverage option.  It also offers several discounts for which its customers may qualify. Moreover, Nationwide offers gap insurance, vanishing deductibles, and accident forgiveness to its auto insurance customers.
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