Last Updated: August 2019
Disclaimer: We are not Nationwide car insurance company. Rootfin is an independent rating agency. This Nationwide Car Insurance Review is designed to help you determine if Nationwide Insurance Company is considered a top-ranked auto insurance provider for you and your needs.
This Nationwide car insurance review is roughly a 6- min read.
Nationwide is one of the most popular, most financially stable, and largest insurance providers in the country.
To make your life easy and this review streamlined, we have provided links directly below that will allow you to jump to any specific section of this post that interest you or that you would like to learn more about:
- Our Nationwide Car Insurance Review
- Nationwide History and Background
- Nationwide Insurance Financial Strength
- Nationwide Insurance Company BBB Ratings
- Nationwide Insurance Company Coverage Options
- What Makes Nationwide Unique?
- Discounts Available with Nationwide
- Cost of Nationwide Insurance
- Rideshare Coverage with Nationwide
- Pros of Choosing Nationwide Car Insurance
- Cons of Choosing Nationwide Car Insurance
- Final Thoughts of on Nationwide Car Insurance
In addition to the ability to read our full Nationwide Review, we also wanted to give you a super-quick summary of the company for those of you who may in a hurry.
Here is that overview for you:
Nationwide Mutual Insurance Company is a U.S. based insurance provider offering several lines of insurance that include car insurance, homeowner’s insurance, small business insurance, and life insurance.
Nationwide is one of the top ten car insurance companies’ consumers can work with.
However, Nationwide is known to be more expensive than other top-rated car insurance providers near you in many circumstances.
Nationwide currently offers no rideshare coverage and works using local agents in most areas as opposed to using independent car insurance agents.
Nationwide does offer some lucrative and great money savings discounts and has an all-star lineup for coverage options available.
That was the quickest way for us to explain Nationwide car insurance.
If, however, you can dedicate the 5 minutes needed to read further into our review, we recommend doing so directly below.
Here are the details.
Our Nationwide Car Insurance Review
Nationwide Mutual Insurance Company is a U.S. based insurance provider offering multiple lines of insurance including home, auto, life, and business insurance.
In addition to these offerings, you may have noticed from the famous “Peyton Manning” commercials that Nationwide also offers products geared towards financial planning and retirement planning.
Currently, Nationwide is based out of Columbus, Ohio and would be considered a top 10 car insurance company in the U.S. by all standards.
No question about it.
However, during the rest of this review of Nationwide, you will learn about specific car insurance coverages offered in addition to discounts and the pros and cons of working with Nationwide.
This should help you to adequately understand if Nationwide is going to be one of the best car insurance options in your area.
Here are those details.
Nationwide History and Background
Nationwide has quite a rich and lengthy industry offering insurance to consumers.
Dating back to the 1920s to be exact.
Back then, Nationwide was referred to as the Farm Bureau Mutual and originally began operations in only West Virginia, Maryland, Delaware, Vermont, and North Carolina.
In 1935 Is when Nationwide expanded and began offering Life Insurance to consumers.
By 1943, Nationwide was offering car insurance in 12 states.
In 1955, is when the Farm Bureau Mutual finally made the transition to the name we all know and trust today “Nationwide.”
However, as humorous and catchy as the commercial may be, it’s important to consider other important factors about a car insurance company which can begin with the financial strength of the company in question.
Nationwide Insurance Financial Strength
Currently, Nationwide has nothing to worry about when it comes to financial strength ratings.
As of 2019, Nationwide is currently being provided the following financial strength ratings from A.M. Best Company.
Nationwide Mutual Insurance Company- A+
Nationwide Life Insurance Company- A+
Nationwide Life and Annuity Company- A+
In addition to these juggernaut financial strength ratings, Nationwide is also ranked #73 on the Fortune 500 List and employs more than 34,000 individuals.
To boast Nationwide just a bit more, they were also ranking #52 as the best company in America to work for according to Forbes.
Nationwide Insurance Company BBB Ratings
BBB Ratings for insurance companies are often hard to judge due to a lack of information.
However, they do often shed some light on the company.
According to the BBB, Nationwide Insurance Company is currently being provided with an A+ rating and been accredited since 1955.
Additionally, compared to other insurance companies relative in size, Nationwide doesn’t have an alarming amount of complaints, which is undoubtedly a positive sign for the consumer.
Nationwide Insurance Company Coverage Options
Now is when we begin hitting on the information you came looking for.
The car insurance coverages offered by Nationwide.
Like many car insurance companies, Nationwide is going to offer your basic lineup of coverage options that can be upgraded and enhanced with secondary coverage options.
Here’s a look at the basic lineup of car insurance coverage offered by Nationwide.
- Uninsured Motorist Coverage
- Medical Payments (PIP)
- Comprehensive Car Insurance- Click here to learn more about Comprehensive Coverage
- Collision Coverage- Click Here to learn more about collision coverage.
- Bodily Injury Coverage
On top of these basic coverages, you have a few other unique coverages available with Nationwide.
Here’s a look at those options.
Smart Ride Coverage- This coverage uses a device that will plug into your car’s diagnostic port and helps to monitor and track your driving behaviors, including hard braking or how quickly you accelerate.
If you are considered a safe driver, and the results prove that, Nationwide will provide a discount which we will discuss later in this post.
Vanishing Deductible Coverage- This allows you to remove 100.00 a year from your coverage if you remain accident-free for 12 months up to a maximum of 500.00 dollars removed.
Accident Forgiveness Coverage- Helps avoid rate increases for having one at-fault accident on your record.
Towing and Labor Coverage- Coverages are towing fees if your car experiences a mechanical breakdown due to an accident.
Rental Car Coverage- Provides coverage to allow you to have transportation in the event your vehicle needs time to undergo repairs.
Gap Coverage- This coverage protects you in the event you total a car that still has money due with the lien holder.
Nationwide will provide you the full value of the vehicle if your car is totaled, not just the depreciated value.
What Makes Nationwide Unique?
Nationwide would be considered a top ten car insurance provider from our point of view.
Additionally, J.D. Power and Associates currently rank Nationwide as the 8th best car insurance company in the country, making them stand in a class of their own.
Additionally, Nationwide is one of the only companies that plugs directly into your car diagnostics port to monitor driving as opposed to using mobile apps.
Theoretically, we think this makes the data more accurate.
For drivers who know they are safe drivers, this could be a huge benefit to help provide good discounts on your auto insurance policy.
Speaking of discounts, let’s dive into those options now.
Discounts Available with Nationwide
Nationwide does offer a wide range of discounts to drivers.
Here’s a look at the entire list.
Multi-Policy Discount- Available when you bundle home and Auto insurance
Smart Ride- Up to 40% discount provided to safe drivers.
Accident-Free- No accidents on your driving history will provide you this discount
Good Student Discount- Available to drivers ages 16-24 with a B average or better
Anti-Theft Discount- Available to vehicles that can prove they either have a factory or aftermarket anti-theft devices installed on their car.
Safe Driver Discount- Discount provided once you have 5 years of accident-free discount
Easy Pay Discount- Available if you elect to make direct withdrawals from your bank account.
Affinity Member Discount- Available for being a member of certain groups.
Defensive Driving Discount- Available if you are 55 or older and take a state-approved defensive driving course.
Cost of Nationwide Insurance
Nationwide would not be considered one of the cheapest car insurance companies in your area.
Overall, Nationwide and Farmers are known to be the 2 most expensive car insurance companies you can work with compared to the other top companies on the list, such as the following:
- State Farm Insurance Company
- Geico Insurance Company
- Allstate Insurance Company
- Progressive Insurance Company
- The Hartford Insurance Company
Likely, your cost to obtain car insurance coverage with these other top providers is going to be lower than your cost of working with Nationwide.
However, something to always keep in mind is that car insurance rates are still factoring using other criteria such as the following:
- Age of the driver
- Driving History
- Credit History
- Marital Status
- Vehicle Being Insured
Therefore, it’s always imperative to shop multiple auto insurance providers before ultimately making that decision on who will be the best car insurance provider for you.
Rideshare Coverage with Nationwide
This is one of the more significant downfalls with Nationwide.
Nationwide still has no coverage options in place for Uber and lyft drivers, and if you do fall into this category, it would be best to look elsewhere for coverage.
Most rideshare drivers don’t understand the dangers of relying on just the rideshare company to protect them and are often underinsured.
Pros of Choosing Nationwide Car Insurance
Choosing a car insurance company will always involve looking at the pros and cons of the coverage, pricing, and the company.
This is what we believe to be the most significant upsides to choosing Nationwide for car insurance coverage.
- Great Line of Discounts (Especially for Safe Drivers)
- Top Ranked Car Insurance Provider in the U.S.
- Ability to Work with A Local Agent in Most Locations
Cons of Choosing Nationwide Car Insurance
Here is what we would consider the biggest downfalls of working with Nationwide Insurance Company.
- No Rideshare Car Insurance Coverage Availability
- Not the Cheapest Option for Car Insurance Coverage
- Agents Can’t Offer Other Insurance Company to Consumers
Final Thoughts of on Nationwide Car Insurance
Nationwide is for sure one of the top car insurance companies in the country.
There is no doubt about that, and we would tend to agree.
However, with some apparent downfalls with their coverage, we always recommend comparing rates with a minimum of three car insurance companies to ensure you are getting the price and protection.
Good Luck in Your Search.