Nationwide is an insurance provider that offers a wide variety of services and programs for both individuals and businesses. It prides itself on its top-tier customer service, depth and breadth of experience, and its reputation as a Fortune 100 company. It is best for the agriculture industry and businesses that need to insure cars.
Nationwide Pros and Cons
Offers a wide variety of services and programs for both individuals and businesses
No online chat on the site
Has a mobile app for both Apple and Android users
Does not provide online quotation for the insurance coverages it offers
Electronic billing for workers’ compensation claims
A+ (Superior) rating from A.M. Best, A1 rating from Moody’s, and A+ rating from Standard & Poor’s
Who Nationwide ls Best For
- Agriculture businesses like farms and ranches: Through CommericalGard Plus, agriculture businesses can get multiple packages specifically made for them like AgriChoice, AgriChoice Plus, and CountryChoice.
- Businesses that have company cars: Nationwide’s numerous programs for auto proves its superiority in catering to the needs of its clients that own cars.
Nationwide offers customized pricing for its insurance products depending on the needs of the business. If you get a quote from Nationwide, you can compare it to estimates from other providers. For example, business owner’s policies (BOPs) can range from $500 to $3,500, depending on factors like your industry, business size, and value of your property.
Nationwide’s website states that it provides lower premium costs through discounts for car owners, such as with Multi-Policy and SmartRide; farmers with Farm Bureau; students with the Good Student Discount; and those who have been using Nationwide for at least three years. It also provides business owners with multiple ways to pay their premiums: online—with or without logging into the site—plus via phone, text, or mail.
Nationwide Alternatives 2020
Industry-leading customer care and specialized packages at competitive prices
All industry-specific general liability, professional liability, and workers' compensation
Independent contractors and sole proprietors who seek coverage tailored to professional needs
Delivery and transportation businesses that require affordable commercial auto insurance
Pay-as-you-go workers’ compensation and liquor liability
Startups that have raised capital and need directors and officers policies and cannabis insurance
Time-strapped business owners who want to be matched with a local carrier immediately
Life and disability insurance
While Nationwide is one of the many insurance providers that offer primary policies that business owners need like general liability, workers’ compensation, professional liability, and commercial auto. What sets it apart from the rest are the standalone policies that it offers, which include commercial crime, inland marine, and builders’ risk. Below is a list of Nationwide’s features.
Nationwide Mobile App
Nationwide is one of the few insurance providers to create an app that policy owners can use to track their insurance in real-time. It equipped its app with fingerprint and facial login features, depending on the phone’s capabilities, to ensure the security of its clients’ accounts. The app can also provide you with roadside assistance should an accident happen.
Nationwide offers numerous options for policy owners to pay like direct pay, automated electronic fund transfer, electronic bill pay, and recurring bank card transfer. These ways help determine how often policy owners want to pay and whether an installment fee is OK with them.
File Claims Online
For those that already have a policy under Nationwide, they have the advantage of filing their claims online. Business owners will only take up to 10 minutes to fill out an application with the necessary information needed to have their claim assessed. Claims are processed within the same day it has been submitted.
Most Helpful Nationwide Reviews
While there have been several negative reviews concerning policy owners’ experience with Nationwide’s auto and accident insurance, there are hardly any reviews online concerning its policy owners’ experience with business insurance as of the date that the article was written (May 7, 2020). Nationwide also grabbed the top spot in J.D. Power & Associates’ ranking of Small Commercial Insurance Study for 2019. If you are a previous or current Nationwide customer, leave a review to help business owners decide whether or not to use the provider.
Nationwide Frequently Asked Questions (FAQs)
Every business situation is unique, and small business owners should seek out answers before selecting an insurance provider. We’ve gathered some of the most frequently asked questions about Nationwide below and answered them.
Does Nationwide offer policies or programs for my employees’ health and well-being?
Nationwide has programs that caters to employees’ health and well-being. One of which would be MedPair, which is a supplemental health insurance that helps cover rising health care costs. This program also coordinates with your major medical plan to provide additional coverage for your employees and their dependents.
Can Nationwide help me know if I’m already financially ready for retirement?
Through Nationwide’s My Interactive Retirement Planner, employees can check on whether they are financially ready for retirement. It will only take less than 5 minutes to answer several questions to gauge one’s level of retirement readiness.
Our Top Business Insurance Provider Picks
In case you still are not sure if Nationwide is right for you, then this article on the best small business insurance companies is a review of our top choices. In this guide, we reviewed dozens of providers and narrowed them down to our top picks based on key criteria like coverage types, customer service, and pricing.