When you are looking at different insurance companies for your car or your home, Nationwide is something you should consider—though it will be up to you and the kind of coverage you need, the place where you live, your insurance record, and the price you are offered whether it is a good choice.
Nationwide provides both auto and home insurance, together with discounts, optional coverage features, and ways to combine policies. The company also has usage-based choices for certain drivers and a number of home insurance discounts. Yet the availability of insurance, the range of coverage options, the discounts, and the prices can differ from state to state and depending on the individual circumstances.
Then is Nationwide insurance a good choice? For a great many drivers and homeowners it can be a sensible option to consider alongside other insurers. The key question isn’t just whether Nationwide is good, but whether the policy it offers gives you the appropriate level of protection at a competitive price.
Table of Contents
What does Nationwide Insurance have to offer?
Nationwide offers a number of personal insurance policies, but of the range of products those looking for standard coverage are most likely to consider are auto and homeowners insurance.
Drivers can obtain from Nationwide a number of standard types of auto insurance, including liability, collision, comprehensive, medical payments and coverage for uninsured or underinsured motorists. In some cases, further options will be available depending on the state and the policy.
For homeowners, a typical policy provides coverage for the structure of the house, the personal possessions, other buildings, personal liability and also for additional living expenses if a covered loss makes the home temporarily unoccupiable. Nationwide also provides optional coverages for certain risks and situations.
The range means that Nationwide could be useful to people who want to deal with several insurance policies through a single company.
Nationwide Auto Insurance: What Drivers Should Know
Nationwide’s auto insurance is based on the standard coverages that most drivers would expect.
Liability coverage
Liability insurance usually pays for any injuries or damage to property that you cause to another person in an accident, provided that the payment is within the limits of the policy.
The extent of liability coverage that you should have is in part determined by your state’s requirements and your own financial circumstances; the state-mandated minimums are not always the same as the level of protection which is appropriate for every driver.
Collision and comprehensive coverage
Collision coverage can help with the cost of damage to your vehicle which is caused by a covered collision.
The coverage is thorough and includes some non-collision losses, for example those caused by weather or other covered events, according to the policy.
Should you choose to finance or lease a vehicle, your lender could require that you have certain physical-damage coverage.
Roadside assistance
Roadside assistance is available as an optional type of coverage with Nationwide, and it can offer things like towing, jump-starts, changing a tire and delivering fuel if you are left stranded. However, the availability and the terms may differ from state to state.
Accident Forgiveness
Accident Forgiveness is also available in certain cases. It is intended to help avoid a rate rise following a qualifying first at-fault accident or a minor breach, but it is not offered in all states and there are eligibility conditions.
Vanishing Deductible
There is also an optional feature called Vanishing Deductible, which has the effect of lowering a qualifying deductible over time as a result of safe driving, provided that it is in accordance with the policy’s terms and is available in the state in question. Nationwide states that the benefit can give you $100 off the deductible for every year you drive safely, with a maximum saving of $500.
Although these features may be useful, they shouldn’t automatically lead to a policy being the correct choice. You should compare the full policy and price rather than making your decision on the basis of a single feature.
What does Nationwide Homeowners Insurance cover?
What homeowners insurance is intended to do is to provide coverage beyond just the physical structure of the building.
A nationwide home insurance policy can cover a number of basic areas of protection.
Dwelling coverage provides protection for the main part of the house and some of its built-in components.
The application of coverage to other structures can include those which are separate from the house, for example a detached garage, shed or fence.
Personal property insurance can be of assistance in protecting items like furniture, clothing, appliances and computers.
If a loss that is covered makes the home temporarily uninhabitable, the loss-of-use coverage can provide assistance with additional living expenses.
Personal liability coverage can be of use in dealing with claims that are covered when you are legally responsible for causing injury or damage to property involving another person.
Nationwide offers various types of coverage, including that for ordinances or laws, for identity theft, for equipment breakdown, and for some roof-related issues. The particular coverage available will vary according to the policy and the state.
A important point is that home insurance does not provide coverage for every possible cause of damage; it is the exclusions, deductibles, limits and conditions set out in the policy that decide whether or not a particular loss is covered.
For instance, a homeowner must not suppose that all kinds of water damage, roof problems or natural disasters are automatically included under the policy. One way to prevent being surprised later on is to read the policy and talk to an agent about the exclusions.
Nationwide Insurance Discounts
There is one area in which Nationwide offers customers a number of methods by which they might reduce the cost of their insurance.
With regard to auto insurance, Nationwide offers discounts and chances for savings which can cover multi-policy discounts, safe-driver discounts, good-student discounts, defensive-driving discounts, anti-theft discounts and various payment or paperless options. Eligibility will differ.
Nationwide also provides usage-based programs.
SmartRide
SmartRide is a type of insurance based on how the vehicle is used and calculates a possible discount; Nationwide states that customers who are eligible will get an enrollment discount, although the actual discount will hinge on driving behaviour and other rules of the program. The availability of the scheme and the criteria it applies differ from state to state.
The kind of thing would attract a person who is at ease about sharing their driving data and who usually drives safely.
SmartMiles
The SmartMiles scheme is designed for those who drive a small amount of distance. Rather than depending completely on a conventional fixed premium system, it uses a base premium together with a varying element which is determined by the amount of mileage and the types of coverage included in the policy. The availability of the scheme differs.
It might be worth looking into if you work from home, own a second car or else drive only a small number of miles.
Homeowners discounts
People who are homeowners could be eligible for reductions based on a number of factors such as the use of protective devices, having a record of no claims, the way their home has been renovated, the features of the roof, the fact that they have recently bought a home, their previous insurance history and others. In some cases, smart home discounts may also be offered, this depending on the state.
Is it possible to save money by combining nationwide insurance?
Bundling is one of the more prominent insurance options available to Nationwide customers who require several types of insurance.
For instance, you could get a multi-policy discount if you combine your home and auto insurance with Nationwide, although the company does promote the possible savings that can be achieved through bundling, since the savings figures they have published are based on specific national samples and are not guarantees for individual customers. The amount of savings actually obtained will depend on the state, the type of coverage chosen and the rating factors.
Convenience can also be a factor here: if you have several policies with a single insurance company you’ll have fewer bills and only one place where you have to keep track of your insurance.
Nevertheless, it would be wrong to suppose that bundling is automatically cheaper.
Imagine you receive these two options:
- Insurer A bills $1,700 for a house and $1,100 for a car separately.
- The company charges $1,550 for a house and $1,050 for a car after taking into account the available discounts.
In this case the total price from Nationwide would be less. However, if a different insurer is offering similar cover for a lower price, the bundle might not in fact be the better value.
Make sure to compare the total cost with the coverage.
What determines your price for nationwide insurance?
There is not a single Nationwide insurance price that applies to all people.
The amount you pay for your automobile insurance can be influenced by things like where you live, your driving record, the type of vehicle you have, the coverage you choose and other factors that are taken into account in setting the rate.
The way in which home insurance policies are priced is also based on the property, the location, the amount of coverage, the deductible, the claims history and other underwriting factors.
The amount of your deductible is also important. It is the sum that you usually pay for a covered claim before the insurer pays the rest of the amount covered, as determined by the terms of the policy.
For instance, if you select a $1,000 deductible rather than a $500 deductible this may have an effect on your premium, but it also usually means that you will have higher out-of-pocket expenses when making a qualifying claim.
The appropriate balance will vary according to your budget and the amount of unanticipated expenses you would be able to afford.
Pros and Cons of Nationwide Insurance
For some customers Nationwide makes sense, but it isn’t automatically the right insurance company for all of them.
Possible advantages
- You can get car and home insurance from the same company.
- There are several opportunities for discount.
- Auto programmes based on usage may attract drivers who are safe or who drive low mileages.
- There are a number of optional coverage features available to homeowners.
- Bundling may make it easier to manage policies and could lead to lower premiums for customers who are eligible.
- Features of some cars, for example roadside assistance and Accident Forgiveness, can offer extra protection.
Likely drawbacks
- It is not the case that coverage, discounts, or programs are available in every state.
- Your true premium could be higher or lower than that of another customer since insurance prices are customized to the individual.
- People who do not wish for their driving behaviour to be used for insurance purposes may not find usage-based programs attractive.
- Just because you compare similar coverage in other places doesn’t mean that a bundle will be the cheapest option.
- Since optional features can increase both complexity and price, it’s important to know exactly what you are buying.
Is Nationwide a good option for drivers?
Nationwide would be a good option if you are looking for standard auto insurance coverage along with extra features and discounts.
It may be particularly worth comparing if you:
- You can combine your auto insurance with your homeowners’ or renters’ insurance.
- Driving a small number of miles could mean that you get benefits from a mileage-based program.
- We are interested in a usage-based insurance program.
- You can have optional features, such as roadside assistance or Accident Forgiveness.
- It is better to have one company look after your various insurance policies.
Price should still play a part in the decision since a driver who has a good driving record will get a very different quote from one who has had recent accidents or violations. The result can also be greatly affected by location, the type of vehicle and the coverage limits.
Is Nationwide a good option for homeowners?
For homeowners who want standard property protection together with extra coverage options and the chance to get discounts, Nationwide should also be taken into account.
This could be particularly convenient for a person who already has auto insurance from Nationwide and for whom a multi-policy discount is available.
However, before you make a purchase you should carefully examine the details of the homeowners policy. Make sure that you check the dwelling limit, the personal property limit, the liability limit, the deductible and the exclusions. If you live in an area that is prone to certain types of weather or natural hazards, you should ask specifically how those risks are dealt with rather than just assuming that they are covered.
Nationwide gives information about homeowners’ insurance by state, and this is useful since the amount of coverage available and the prices can vary according to location.
How to Decide if Nationwide Is Right for You
The easiest method is to compare the quotes while using the same coverage limits and deductibles.
It would be wrong to compare a policy with a $500 deductible from one company to one with a $2,500 deductible from another and then think that the one with the lower premium is the better deal.
For auto insurance, compare:
- Liability limits
- Collision and comprehensive deductibles
- Uninsured and underinsured motorist coverage
- Medical payments or personal injury protection where applicable
- Roadside assistance
- Rental or transportation coverage
- Accident forgiveness or other optional features
For homeowners insurance, compare:
- Dwelling coverage limit
- Personal property coverage
- Liability coverage
- Deductible
- Replacement-cost provisions
- Additional living expenses
- Roof coverage
- Water-related coverage and exclusions
- Coverage for valuable possessions
Check what discounts you are actually eligible for.
What we want to do is compare equal levels of protection, not just the lowest figure on the quote screen.
Frequently Asked Questions
Is Nationwide an good insurance company?
Nationwide provides both auto and home insurance together with a variety of coverage choices and discounts. Whether or not it is a good choice for you will depend on your state, your coverage requirements, your eligibility and the quote that you get. It makes sense to compare it with a number of other insurers when making up your mind.
Does Nationwide offer home and auto bundling?
Yes, Nationwide provides multi-policy discounts to customers who meet the requirements and combine policies such as home and auto insurance; the amount of the discount and the real savings will differ according to the state, the coverage choices and the rating factors.
Does Nationwide offer a car insurance scheme which is based on usage?
Yes, Nationwide has SmartRide, a scheme which calculates possible savings for customers who are eligible based on their driving; it also provides SmartMiles for those drivers who could benefit from a mileage-based pricing system. The availability and terms differ from state to state.
Does the homeowners insurance offered by Nationwide provide coverage for everything?
Certainly. Homeowners’ insurance includes exclusions, limits, deductibles, and various conditions; the extent of the coverage will depend on both the particular policy and the state. Although Nationwide provides a number of standard and optional coverages, homeowners should still go over the policy carefully in order to know what is and what is not covered.
Is Nationwide the cheapest one for insurance?
There isn’t a single solution since insurance prices vary according to individual and state-specific rating factors. The best method for deciding whether Nationwide is valued competitively for you is to obtain quotations with the same level of coverage and deductibles.
The Bottom Line
For drivers and homeowners who want a wide range of coverage, the possibility of obtaining discounts and the convenience of combining their policies, taking out insurance nationwide can be a sensible choice. Its auto programs can also be useful for eligible safe or low-mileage drivers.
Still, Nationwide is not automatically the right choice simply because it offers these features. Your state, driving history, property, coverage limits, deductible and available discounts can all affect the final value.
Before buying, get quotes from several insurers and compare the policies on an apples-to-apples basis. The better choice is usually the one that gives you the protection you actually need at a price that fits your situation—not simply the insurer with the lowest advertised rate.
