Nationwide Auto Insurance began as Farm Bureau Mutual back in the 1920s. Back then, farmers – who had far fewer accidents than their urban counterparts – were paying the same rates. The Farm Bureau Mutual Automobile Insurance Company saw an opportunity and began offering Ohio farmers competitive rates in 1926. Today, Nationwide, as its been known since 1955, is one of the largest insurers and financial services companies in the country. Nationwide Auto Insurance is not just one of the top insurance companies in the business. As you know, “Nationwide is On Your Side.”
Overview of Nationwide Auto Insurance Company
Long-standing financial stability
Creative suite of discounts
Free yearly insurance review
What makes Nationwide stand out
Nationwide has various programs, some of which are available to all customers and others requiring qualification. Some of its best-known and most valuable programs include:
The Vanishing Deductible -Would you like your deductible to decrease? Nationwide offers the Vanishing Deductible. Drive safely, and your deductible goes down. For every year in which you don’t have an accident, your deductible diminishes by $100, up to a $500 maximum.
Autowatch – This program, available via app, allows customers whose damaged vehicles are undergoing repair to watch the entire process online. You can check on the status of your vehicle repair 24/7.
On Your Side Review – Each year, your Nationwide insurance representative gives you a free insurance review. This ensures you have the coverage you need – and aren’t paying for coverage you don’t need. Customers can make the most of available discounts and benefits, while also reviewing any life changes in the past year that may mean they need additional coverage in certain areas. It’s a comprehensive look at all your insurance and keeps you up-to-date on insurance needs.
Types of car insurance available
Nationwide offers car insurance for every type of consumer, whether they want only the mandatory state minimum or have a valuable vehicle they want to protect at maximum value. Nationwide’s car insurance offerings include:
Liability insurance – Each state sets a minimum amount of liability insurance that a driver must carry. However, that minimum is generally too low for anyone involved in a serious auto accident. Liability coverage involves both bodily injury and property damage. The latter refers to other people’s property damaged in an accident, whether it is another vehicle or a fence, mailbox or even house that is hit by your car. Bodily injury pays for the medical expenses of those hurt in an accident. This component of liability insurance will also pay for legal fees and another party’s loss of income – or even funeral expenses – if you caused the collision. The amount of liability coverage you have indicates what you can expect your policy to pay and what you must pay out of pocket. A state minimum mandatory liability policy may not even provide enough money to pay for the repair of another vehicle. Suppose you have a $15,000 liability policy and you hit a vehicle worth $40,000. Even if no one is hurt, you are responsible for the $25,000 difference. Anyone with a fair amount of assets, including a home, should consider purchasing sufficient liability insurance to protect themselves or a personal umbrella policy that boosts coverage for a bundled policy. Personal umbrella policies are available through Nationwide.
Collision insurance – If you’re in an accident, you need collision insurance to pay for the car’s repair. Otherwise, you must pay the costs out of pocket or you are out of luck. It’s not required by law, and some owners decide to forego collision insurance if their vehicle is older and less valuable. That’s fine if you can afford to replace your vehicle in a worst-case scenario, but if you can’t, collision insurance is a wise choice. There are vehicles that aren’t worth insuring for collision, but that depends on the vehicle itself and the owner’s financial condition.
Comprehensive car insurance – Also known as full coverage, comprehensive insurance goes beyond covering motor vehicle collisions. If your vehicle is stolen, vandalized or suffers damage from an encounter with a deer, tree limb or hail, you’re covered. Drivers know they may someday have an accident. They never expect to have their vehicle damaged during a riot or other example of civil unrest, such as an act of terrorism. If the unthinkable happens, comprehensive car insurance is there. In some states, comprehensive coverage may pay for more mundane damage, such as a broken or cracked windshield.
Classic Car Coverage – If you own a classic car, standard car insurance will not cover the special needs of vintage vehicles. Nationwide partners with Hagerty, the world’s leading classic car insurer, to offer coverage for these one-of-a-kind automobiles. Because classic cars require knowledgeable repair personnel, the owner can decide who does the work. Nationwide also offers Guaranteed Value coverage, so your car will not depreciate under this policy. There are no fixed mileage limits for pleasure driving of a classic vehicle. Nationwide’s classic car coverage isn’t limited to cars per se, but also includes trucks, hot rods, tractors, motorcycles, military vehicles and those vehicles undergoing reconstruction.
Nationwide’s customer satisfaction ratings are above average. That holds true not only for auto insurance, but for other types of insurance as well. That’s important, since “bundling” different types of insurance can help customers allows customers to pay discounted rates. Nationwide has fewer customer complaints than the national average for car insurers.
If a Nationwide customer has a claim, they can opt to deal with their personal insurance representative or file the claim online. A toll-free number for filing claims is another avenue. Nationwide aims to make the claim process as simple and hassle-free as possible.
Nationwide also offers the On Your Side Auto Repair Network. If you choose one of these affiliated repair shops to fix the damage to your car, the workmanship on such repairs is guaranteed for as long as you own – or lease – your vehicle.
Prospective customers can receive a quote over the phone from a Nationwide representative or visit the company’s website and enter their zip code and other pertinent information to receive a quote.
Nationwide’s rates are competitive, but what an individual customer will pay depends on various factors. This includes the type of car insurance policy. If a driver wants only the minimum liability policy mandated by their state, they will obviously pay less than someone seeking more comprehensive coverage, but they can end up with serious financial issues in case of a severe accident. Other factors affecting the price of car insurance include a person’s age, driving record, location, the type of vehicle and the deductible. Nationwide offers good value for discounts. In 2016, nationally, the average driver paid $102 per month for car insurance. Depending on their wants and needs, some Nationwide customers will pay more or less than the average. While there is a minimum amount for each policy, many customers will want to purchase more than the required minimum to protect their assets in case of an accident.
Along with the kind of offering available from nearly every auto insurance company, Nationwide provides customers with special types of promotions and discounts. Optional offerings include:
Roadside Assistance – Offered at two fee levels, this 24-hour service comes to the aid of customers whose vehicle has broken down or run out of gas, or the person accidentally locks themselves out. Roadside assistance offers $100 in lockout services if the customers loses his or her key or fob, locks the keys in the vehicle or experiences key breakage in the ignition, door or trunk. Basic Roadside Assistance tows a car up to 15 miles at no additional charge, replaces a flat tire with a spare, jumpstarts a dead battery, pulls a car out of ditch, and delivers gas if the tank is empty. Roadside Assistance Plus offers car towing of up to 100 miles, as well as trip interruption coverage. If a customer is stuck more than 100 miles from their home, this service reimburses up to $500 in hotel bills, meals and alternative transportation. Actual coverage amounts may vary by state.
Towing and Labor Insurance – Whether a customer is involved in an accident or has a car break down, towing and labor insurance helps avoid costly towing bills. Towing fees are reimbursed from the area where the car is stuck to the repair shop. Customers must carry a comprehensive auto insurance policy with Nationwide to qualify. This insurance also covers some labor – not parts – needed to get the vehicle moving once more. Qualifying labor costs include dead battery replacement, tire changing or gas delivery. Customers are limited to a certain maximum of such claims annually.
Accident Forgiveness – Not available in every state, Nationwide’s Accident Forgiveness program keeps rates from increasing after an initial at-fault accident on a policy. It is a “one and done” option, but the company does extend Accident Forgiveness to every driver on the policy, so even if a teenager has that first accident, rates won’t increase. While customers must pay extra for the Accident Forgiveness program, that money is well-spent as the amount is generally less than a post-accident rate increase. In addition, once a driver has an accident, finding comparable insurance with another company becomes more difficult.
Rental Reimbursement Insurance – After an accident, customers still need transportation to go about their daily business. Rental reimbursement insurance pays a certain amount toward the rental of a vehicle until the customer’s vehicle is fixed. It is only available for customers purchasing comprehensive or collision insurance, depending upon the type of claim. Every policy specifies a daily limit as well as the maximum reimbursement permitted. Customers may buy a lower daily limit and pay less in premiums, so that at least some of their rental car expenses are covered. In some instances, customers may be reimbursed for their public transportation costs while their car is in the repair shop.
Nationwide has been in existence for nearly a century. Ratings agency A.M. Best gives the company an A+ rating for its financial strength, the highest rating possible. An insurance company’s financial stability is paramount, because a insurer with less than stellar financial stability may not prove able to pay claims.
Customers may receive various discounts on their Nationwide auto insurance premiums. These discounts include:
Multi-policy – Save as much as 20 percent when you insure your home, rental, boat or motorcycle along with your auto insurance. Nationwide includes life insurance as part of its bundling discount provision.
Family plan – Nationwide’s family plan allows anyone sharing your household to share in your discounts. It’s possible to save up to 25 percent with a family plan.
Good student – If you have a younger driver with a B average, you can lower the costs of providing auto insurance. Your child must be either a full-time high school or college student, between the ages of 16 to 24. Do you homeschool? Your child may prove eligible for the good student discount as long as they are in the top 20 percent of certain standardized tests.
Safe driver – If you have not been involved in any accidents, you may qualify for Nationwide’s 10 percent safe driver discount. Eligibility includes a clean driving record for at least the previous five years and no history of at-fault incidents.
SmartRideM- This program, based on usage, saves you 5 percent as soon as you sign up. You’ll receive a device to install on your car to track your driving. Over time, with a good safety record, you can save as much as 40 percent on your auto insurance.
Anti-theft devices – Install an anti-theft device in your vehicle, and you may receive a discount. Depending on the state, qualifying for the discount depends on whether the anti-theft device was installed in the factory or after you purchased the vehicle.
Easy Pay Sign-Up Discount – Enroll in automatic, paperless billing and electronic funds payment and you’ll receive a discount at sign-up.
Paperless – Receive all of your Nationwide notifications via email rather than paper and receive a recurring discount.
Affinity Partner – If you belong to certain member-based organizations, you may be eligible for a discount through our Affinity Partner program.