Nationwide Insurance Review 2022: What You Need to Know

Nationwide Insurance was founded as the Farm Bureau Mutual Automobile Insurance Company in 1926 by the Ohio Farm Bureau. 

By 1928, the company expanded into the neighboring state of West Virginia, with Maryland, Delaware, Vermont, and North Carolina soon following. Before long, they added fire insurance and life insurance, and by 1943, Farm Bureau Mutual operated in 12 states and Washington, D.C. In 1955, Farm Bureau Mutual was renamed Nationwide Insurance. 

The company is headquartered in Columbus, Ohio — but, true to its name, Nationwide Insurance is offered through independent insurance agents across the country. 

What Types of Insurance Does Nationwide Offer? 

As a large national carrier, Nationwide offers a wide range of property insurance products. Here are just some of Nationwide’s policy options:

Auto Insurance

Auto insurance protects you from financial loss related to car accidents or other claims such as theft. Nationwide offers collision, comprehensive, and liability coverage, along with medical payments and more. Uninsured/underinsured motorist coverage, roadside assistance, and gap insurance are also available. 

Nationwide also offers “accident forgiveness” in some states. If you have this coverage option and you are determined to be at-fault in an accident, you might avoid a rate increase.

Homeowners Insurance

Nationwide offers homeowners insurance to protect against financial losses from damage caused by a covered peril — or if you’re found liable for property damage or injuries. The company also offers a benefit called Brand New Belongings, which means that if property inside your home is damaged or stolen, your policy could possibly pay to have them fixed or replaced. 

There’s also Better Roof Replacement coverage, which covers the cost of replacing a damaged roof with stronger and safer roofing materials in the event of a covered loss.

Condominium Insurance

Nationwide offers condo insurance to protect your personal property and liability coverage. Your condominium’s master policy isn’t enough to cover your belongings, so condo insurance is a great solution. 

This policy type also typically covers the walls “studs-in.” This includes countertops, built-in shelves, permanent AC units, and other similar items that are a permanent part of your home. 

Renters Insurance

Nationwide’s renters coverage includes personal property protection and liability coverage if someone is injured at your apartment. If your apartment is not considered habitable due to a covered loss, the policy will pay for temporary housing. 

Private Client

Nationwide offers coverage that offers high-net-worth clients with customized insurance products that meet their needs. Such coverage includes risk solutions, a program of prevention tools to protect belongings and reduce risks, and specialized collections coverage that includes things such as wine collections and art.

Umbrella Coverage

Nationwide’s umbrella coverage protects your assets if you experience a liability claim that exceeds the limits of your homeowners or auto insurance policy.

RV Insurance

Nationwide insures many types of recreational vehicles, from large motorhomes to travel trailers and campers. If you’re interested in insuring your RV with Nationwide, you’ll need to speak with an agent about what type of coverage you need as options and costs vary depending on the style of RV you have.

Boat Insurance

From sailboats to pontoons, Nationwide could insure your boat. They can even design a policy that reflects the type of boating you do — and the coverage protects your boat both in and out of the water.

Motorcycle Insurance

Nationwide offers year-round coverage options for your motorcycle that includes bodily injury liability, uninsured/underinsured coverage, property damage liability, collision, comprehensive, and personal injury protection.

Travel Insurance

Nationwide offers travel insurance to protect your vacation plans. This includes specialized plans for cruises and plans that cover single trips or multiple trip coverage if you travel frequently. Injuries, illnesses, canceled flights, and lost luggage are just some of the protection options available.

Identity Theft

Nationwide’s identity-theft protection can be added to your auto, home, renters, condo, or RV policy — it is not available as standalone coverage. If you are a victim of identity theft, Nationwide will cover up to $25,000 of the out-of-pocket expenses incurred to address and fix an identity-theft incident.

Pet Insurance 

Nationwide offers pet insurance  for dogs, cats, birds, and exotic pets. Checkups and routine vaccinations are covered under the Pet Wellness plan, which has two levels of coverage. 

If you’re looking for emergency coverage, Major Medical takes care of accidents and illnesses, while Nationwide’s Whole Pet plan covers wellness visits, accidents, and illnesses.

Wedding Insurance

Nationwide knows that the costs associated with weddings are considerable. You’ll want to protect the investments you’ve made in the event that something goes wrong. 

They offer two types of wedding insurance coverage: wedding cancellation insurance (if you have to cancel or reschedule your wedding) and wedding liability insurance (which protects you from accidents and injuries caused by a vendor or guest).

What Makes Nationwide Different?

Nationwide completed a transition to an all-independent agency model in 2020. Previously, the company sold policies through a mix of exclusive and independent agents.

In addition to all of the insurance products that Nationwide Insurance offers, the company also has a repairs network. If you ever have an auto claim and need your vehicle repaired, when you select an “On Your Side Auto Repair Network” facility, your repairs come with a guarantee.

Nationwide also offers usage-based insurance programs called “SmartRide” and “SmartMiles.” SmartRide is a safe driver program that uses an app to monitor how you actually drive, and it rewards safe drivers with lower rates and discounts. SmartMiles is a program for low-mileage drivers, and it combines a low, flat insurance rate with a per-mile charge. If you don’t drive very often, you could save a lot of money on your car insurance.

For homeowners insurance coverage, Nationwide offers a benefit called “Brand New Belongings,” which pays the difference between the depreciated cost of your belongings and the amount you paid to replace them.

Does Nationwide Offer Discounts?

Similar to most large insurers, Nationwide offers bundling as a way to see if you can save money on insurance. Auto and home insurance is a common bundle, and with Nationwide, you can also add life insurance for a bigger bundle and potentially more savings. 

Multi-car discounts are another popular option; you can see if you can save money by insuring two or more vehicles with Nationwide. You can bundle auto and renters, boat and auto, and even motorcycle and renters insurance for potential savings.

Beyond bundling, Nationwide offers discounts for drivers age 55 and over who complete state-approved safety courses with its defensive driving discount. You can also potentially save money with Nationwide by being accident-free for five or more years, by setting up automatic payments, or if your car has certain anti-theft devices installed.

For homeowners, discounts are available for protective devices (including smoke detectors, fire alarms, and burglar alarms), being claims-free, credits for certain home renovations, installing smart home technology, or being part of a gated community.

The Bottom Line

If you are looking to go with a single insurer for many if not all of your insurance needs, talk to your insurance agent or connect with an Expert Agent today to see if Nationwide Insurance is right for you.

Disclaimer: 

Source: https://www.nationwide.com/personal/about-us/

Savings, if any, vary based on a consumer’s profile and other factors. Contact your insurance agent for more information. Restrictions apply.

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