Nationwide Insurance Company Review
Choosing an insurance company is not always an easy task. We all hear so many commercials and advertisements from insurance companies claiming that each one offers the best services and products. You probably recognize the familiar commercial jingle singing what Nationwide Insurance wants you to remember - - “Nationwide is on Your Side.” But what you may be wondering is what this insurance company has to offer that makes it a good choice for your insurance needs and one you will want to consider when making insurance quote comparisons.
Nationwide Mutual Insurance Company has been in business for over nine decades. In the company’s beginnings, it was a small mutual auto insurer in Ohio that insured only farmers. A mutual company is one that is owned by its policy holders. From these humble beginnings, Nationwide Insurance has expanded its insurance lines and coverage territory to include 32 states and the District of Columbia. Nationwide Insurance supports humanitarian organizations including the Feeding America food banks and the American Red Cross.
Nationwide Financial Services is also part of the Nationwide family of companies and is one of the largest financial services in the world. Fortune 500 has ranked Nationwide Insurance in its top 100 companies. The company became a publicly-traded entity in 1997 and currently has assets of over $135 billion. The current CEO of Nationwide Insurance is Steve Rasmussen.
Nationwide's corporate responsibility includes its yearly campaign of giving to the United Way which began in 1951 and continues today. The Nationwide Foundation matches employee contributions dollar for dollar. Nationwide executives also serve on United Way boards across the U.S. ("Corporate History | Nationwide.com", 2019)
One thing Nationwide Mutual Insurance Company has to offer its customers is financial stability. Why is this important? You don’t want any insurance carrier who is “here today and gone tomorrow.” Financial stability means that the insurance company has sound financial assets, makes wise investments and will be able to pay any claims presented. A.M. Best gives Nationwide Insurance an “A+” Superior rating with a financial size category of XV ($2 billion in assets or greater). A.M. Best has revised its outlook from negative to stable in its 2019 ratings review. Moody’s rates Nationwide with an “A1” rating while the S&P rating is “A+”. The outlooks from both Moody’s and S&P are stable.
Nationwide offers many different types of insurance products. From the Nationwide website, you can receive a quote for auto, boat, motorcycle, homeowners, renters, life insurance, group medical, business, pet and farm insurance, legal insurance, and more. Depending on what state you live in, you can get an insurance quote online or visit one of the local Nationwide Insurance offices. There is an agent locator on the website to assist you in finding a local agent. Business owners can find insurance for commercial auto, workers’ compensation, business property, umbrella coverage, cyber liability, surety bonds, excess & surplus insurance and more.
To receive an insurance quote, you can visit the Nationwide Insurance Website, a local Nationwide office or call 1-877 On Your Side (1-877-669-6877).
In addition to taking care of your insurance needs, Nationwide has many other services to offer its customers including these services:
· Investing & Retirement: Annuities, mutual funds, exchange traded funds, retirement plans.
· Life Events & Planning: Helpful tools for buying a home, budgeting, travel tips, retirement planning and more.
Nationwide Bank is no longer providing banking or lending services. For questions on a closed Nationwide Bank account, you may email ACCTSPPT@nationwide.com. You will need to include your name, address, phone number and account number. ("Banking Services Provided by Axos Bank", 2019)
Nationwide Insurance has several attractive perks to offer its insurance customers including:
· Mobile Claims Application: A mobile application that takes you step-by-step through the claims process.
· Discounts: Many discounts are available including multi-policy, multi-car, good student, anti-theft device, passive occupant restraint, accident forgiveness, loyalty and defensive driving among others.
· Easy-to-Use Website: Nationwide Insurance offers a useful and informative website for its customers. From the website, you can get a quote, locate a local agent or read useful tips and information about different types of insurance and products.
Customer Satisfaction Level
Nationwide Insurance has an "A+" Better Business Bureau rating. There is a BBB alert for Nationwide Insurance. However, it seems this has to do with counterfeit checks fraudulently issued by individuals having no affiliation with Nationwide Insurance. Nationwide encourages anyone with questions about suspicious activity to contact its Office of Customer Advocacy at 800-882-2822.
According to the BBB's Nationwide Insurance profile, the company has 101 total reviews. Out of the 101 total reviews, 96 were negative, 4 were neutral and 1 was positive. There are a total of 335 total complaints listed: advertising/sales issues (8); billing/collection issues (105); delivery issues (2); guarantee/warranty issues (3); and problems with product/service (218). Of the complaints, 92 were closed in the last 12 months and the customer verified the issue was solved to his satisfaction for 66 complaints. Nationwide received a composite score of 3.72 out of 5 stars.
J.D. Power and Associates gave Nationwide Insurance average ratings (3 out of 5) across the board in a customer auto claims satisfaction survey. The areas where the company was rated include overall customer satisfaction, repair process, rental car experience and settlement process among others.
To learn more about its insurance products or to receive a quote, visit the Nationwide Insurance website or call 1-877-On Your Side (1-877-669-6877).
WIRE, B. (2019). AM Best Revises Outlooks to Stable for Nationwide Mutual Insurance Company and Its Property/Casualty Subsidiaries; Affirms Credit Ratings for Affiliates. Retrieved 30 December 2019, from https://www.businesswire.com/news/home/20191217005845/en/Revises-Outlooks-Stable-Nationwide-Mutual-Insurance-Company
Home, Auto and Other Types of Insurance - Nationwide. (2019). Retrieved 30 December 2019, from https://www.nationwide.com/personal/insurance/
Investing & Retirement Solutions from Nationwide. (2019). Retrieved 30 December 2019, from https://www.nationwide.com/personal/investing/
Insurance Articles, Resources, and Tips – Nationwide. (2019). Retrieved 30 December 2019, from https://www.nationwide.com/lc/resources/
Nationwide Mobile Insurance App – Nationwide. (2019). Retrieved 30 December 2019, from https://www.nationwide.com/personal/insurance/mobile-app-support/
Affordable Car Insurance & Discounts from Nationwide. (2019). Retrieved 30 December 2019, from https://www.nationwide.com/personal/insurance/auto/discounts/