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Nationwide Insurance Review 2018: Complaints, Ratings and Coverage

January 24, 2018
Auto Insurance, Insurance

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Nationwide reviews and ratings

  • Customer satisfaction ratings are average or better
  • Fewer customer complaints than the median for auto, home and life insurance products
  • One-stop insurer offers most types of personal insurance policies

Overview

Although it’s probably best known for car insurance, Nationwide offers many types of insurance and financial products. If you prefer to bundle insurance products with a financially strong company, Nationwide might be a good fit.

Auto insurance rating

Nationwide ranked 7th out of 23 insurers in NerdWallet’s ranking of the best car insurance companies, earning 4 stars out of 5 for overall performance. NerdWallet’s rating is a score based on:

  • J.D. Power ratings for customer service, claims satisfaction and shopping satisfaction
  • Consumer Reports customer satisfaction ratings
  • Consumer complaints against the insurer, based on data from the National Association of Insurance Commissioners

Complaints

Nationwide had fewer than the median number of complaints to state regulators for auto, home and life insurance in 2017 relative to its size, according to the the National Association of Insurance Commissioners.

Customer satisfaction

  • Nationwide ranked “about average” for overall purchase experience for auto insurance in J.D. Power’s 2017 U.S. Insurance Shopping Study
  • It ranked “about average” for overall satisfaction in J.D. Power’s 2017 Auto Claims Satisfaction Study
  • Nationwide ranked “about average” for overall satisfaction in J.D. Power’s 2017 Homeowners Insurance Study
  • It ranked “among the best” for overall customer satisfaction in J.D. Power’s 2017 Property Insurance Claims Study
  • Nationwide ranked “better than most“ for overall customer satisfaction in J.D. Power’s 2017 Life Insurance Study

Financial strength: A+ (“superior")

Nationwide’s financial strength is “superior,” according to ratings agency A.M. Best. Financial strength is important because it indicates how well an insurer can pay claims.


Auto insurance rating

Nationwide ranked 7th out of 23 insurers in NerdWallet’s ranking of the best car insurance companies, earning 4 stars out of 5 for overall performance. NerdWallet’s rating is a score based on:

  • J.D. Power ratings for customer service, claims satisfaction and shopping satisfaction
  • Consumer Reports customer satisfaction ratings
  • Consumer complaints against the insurer, based on data from the National Association of Insurance Commissioners

Complaints

Nationwide had fewer than the median number of complaints to state regulators for auto, home and life insurance in 2017 relative to its size, according to the the National Association of Insurance Commissioners.

Customer satisfaction

  • Nationwide ranked “about average” for overall purchase experience for auto insurance in J.D. Power’s 2017 U.S. Insurance Shopping Study
  • It ranked “about average” for overall satisfaction in J.D. Power’s 2017 Auto Claims Satisfaction Study
  • Nationwide ranked “about average” for overall satisfaction in J.D. Power’s 2017 Homeowners Insurance Study
  • It ranked “among the best” for overall customer satisfaction in J.D. Power’s 2017 Property Insurance Claims Study
  • Nationwide ranked “better than most“ for overall customer satisfaction in J.D. Power’s 2017 Life Insurance Study

Financial strength: A+ (“superior")

Nationwide’s financial strength is “superior,” according to ratings agency A.M. Best. Financial strength is important because it indicates how well an insurer can pay claims.

Nationwide auto insurance

Nationwide offers all that you’d expect from an auto insurer, plus a few additional options and perks.

  • SmartRide uses a device that plugs into your car’s diagnostic port to track your driving behavior. It can track mileage, fast acceleration, hard braking and time of day you drive. Nationwide uses the data to determine your discount, up to 40%, for safe driving. Drivers can get an initial discount just for signing up.
  • Vanishing deductible: This optional program allows you to chip away at your deductible by driving safely. For every year you don’t have an accident, your deductible goes down by $100, up to a $500 reduction.
  • On Your Side Review: Every year and after a major life event, you can take advantage of a free assessment by one of Nationwide’s agents to help you determine whether your insurance policies are right for you and go over any available discounts.
  • Accident forgiveness helps you avoid a rate increase after you or someone on your policy causes a crash. It’s not available in every state, and Nationwide will only forgive one accident per policy.

Nationwide home insurance

Nationwide offers home insurance with typical coverage options, plus a few extras you can opt into, including:

  • Brand New Belongings: If your belongings are damaged, destroyed or stolen, Nationwide will reimburse you for brand-new items rather than for the value of your old things
  • Better Roof Replacement: If you need to replace your roof and the damage is covered by your policy, Nationwide will reimburse you to have it rebuilt with stronger and safer materials than your old roof
  • Water backup of sewer coverage pays if your house is damaged by water backup through sewers or drains
  • Valuables Plus offers additional coverage for valuables such as jewelry, antiques and art if they are stolen or damaged
  • Ordinance or law insurance covers the cost of rebuilding your house to current building codes during a claim

Nationwide life insurance

Nationwide offers a full roster of life insurance products, including term life, whole life, universal life and variable life insurance.

Nationwide term life insurance comes in 10-, 15-, 20- or 30-year policies that can be converted to permanent life insurance at the end of the term.

More about Nationwide

Website: Nationwide’s website has a portal where you can pay bills, manage policies and view documents. The site also has tools for planning your retirement.

Mobile app: You can manage your policy, start a claim, call for roadside assistance and get auto insurance ID cards on the Nationwide mobile app, available for iOS and Android.

Other types of insurance from Nationwide include:
Condo insuranceIdentity theft insurance
Renters insuranceBoat insurance
Motorcycle insuranceRV insurance
Dental insuranceSmall-business insurance
ATV insuranceUmbrella insurance
Travel insuranceSnowmobile insurance

NerdWallet is a free tool to find you the best credit cards, cd rates, savings, checking accounts, scholarships, healthcare and airlines. Start here to maximize your rewards or minimize your interest rates. NerdWallet

Nationwide insurance

 

NerdWallet’s star ratings are based on the following three factors, each weighted equally to produce a 300-point maximum total score:

  • 2017 consumer complaints data from the National Association of Insurance Commissioners. The median complaint ratio for the industry is 1. Lower ratios are better. Insurers whose median complaint ratios were more than 1 received fewer points; those lower than 1 received more points.
  • 2017 company satisfaction data from the Consumer Reports Winter Survey. Higher satisfactions ratings from Consumer Reports were given higher scores in our calculation.
  • 2017 J.D. Power ratings from three studies encompassing regional customer service satisfaction, auto claims satisfaction and shopping satisfaction. Ratings from each of the separate 2017 studies were averaged to form one overall score from J.D. Power. The higher the average, the more points the insurer scored in our calculation.

Only larger insurers with data available in all three of these categories were included. Smaller insurers not listed here may also be good choices and are worth consideration.