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
(Best overall) Industry-leading customer care and specialized packages at competitive prices
Home-based business owners looking for affordable coverage
Small- to midsized businesses that want help with risk management
International coverage for business transactions and trips
Technology businesses seeking errors & omissions insurance that includes cyber liability
Manufacturing companies that need small business insurance plus industry-specific coverage
Professional liability coverage added to a business owner’s policy (BOP)
Liquor stores and restaurants that need liquor liability included in their BOP
Delivery and transportation businesses requiring affordable commercial auto insurance
Startups, particular tech companies that need management liability insurance immediately
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 its standalone policies. These include commercial crime, inland marine, and builders’ risk. Below is a list of other features Nationwide offers.
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. Each option gives help policy owners a choice for how often they want to pay and whether an installment fee is okay with them.
File Claims Online
Business owners who already have a policy under Nationwide have the advantage of filing their claims online. Claim forms are easy to complete, usually taking less than 10 minutes to fill out with the necessary information. 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 is MedPair, which is 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 takes 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.