Nationwide insurance review 2023

Nationwide car insurance coverage could be a good fit for drivers who prioritize policy customization. Our Nationwide Insurance review found that the company offers coverage options that may not be found at other insurance carriers. These include accident forgiveness and a vanishing deductible, although the availability of these features may depend on your location and state regulations. 

In addition to insuring personal vehicles, Nationwide also offers car insurance for classic cars through its partnership with Hagerty. Those who own vehicles like antique, classic and muscle cars might be interested in coverage, but it’s interesting to note that Hagerty also extends coverage to collector motorcycles and scooters, classic military vehicles and even retired commercial vehicles. 

Nationwide car insurance is not available in all states. Coverage is sold in 46 states and Washington, D.C. Drivers in Alaska, Hawaii, Louisiana and Massachusetts are not currently eligible for coverage. The lack of nationwide availability combined with no 24/7 customer service kept Nationwide’s Bankrate Score from being higher.

Based on Bankrate’s assessment of Nationwide homeowners insurance, the company could be worth considering for homeowners with high-value homes. On top of the standard homeowners insurance coverage options, Nationwide offers a variety of endorsements to enhance your policy. Homeowners can add Better Roof Replacement, which allows for the use of stronger and safer roofing materials to be used to repair your roof if it is damaged due to a covered loss. The company also offers Valuables Plus which provides additional coverage for high-value items.

Nationwide home insurance isn’t available nationwide. It’s sold in 43 states and Washington, D.C., but Alaska, Florida, Hawaii, Louisiana, Massachusetts, New Jersey and New Mexico currently do not have access to Nationwide home insurance. Nationwide also received a below-average score for overall customer satisfaction in the 2022 J.D. Power U.S. Home Insurance Study, which contributed to its lower Bankrate Score. However, Nationwide placed third in the 2023 J.D. Power U.S. Property Claims Satisfaction Study, indicating that customers who filed home insurance claims with Nationwide had a more positive experience.

If you’re not sure if Nationwide is the right fit for your insurance needs, you might want to research these similar companies: 

Nationwide vs. State Farm

State Farm might be appealing if you are considering Nationwide in part because of its banking products. Like Nationwide, State Farm sells both insurance and banking products that may allow you to consolidate your policies in one place. State Farm doesn’t offer an accident forgiveness endorsement though; you have to earn the coverage by remaining accident-free for a certain amount of time. 

Learn more: State Farm Insurance review

Nationwide vs. Geico 

If you’re looking for a company that has options for high-risk drivers, you might consider Geico. Coverage is available nationwide, but keep in mind that Geico’s home insurance is sold by third-party partners. If you’re looking for a company with a track record of home insurance offerings, Nationwide could be a better option.

Learn more: Geico Insurance review

Nationwide vs. Auto-Owners

If Nationwide’s robust endorsements appeal to you, you might want to check out Auto-Owners. The company offers robust auto and home insurance options and a long list of discounts for each policy type. Auto-Owners is only available in 26 states, though, so Nationwide is more widely available. 

Learn more: Auto-Owners Insurance review

After reviewing Nationwide's offerings and comparing these with our insurance editorial team's knowledge of more than 100 other insurance companies, we determined that Nationwide might be a good company for drivers and homeowners looking for personalized insurance coverage and banking products. 

The insurer offers a range of insurance products and robust optional coverage types that might help you build the coverage that you need. While Nationwide has a relatively high AM Best financial strength rating and lower-than-average NAIC complaint indexes for auto and home, it doesn’t have the most outstanding J.D. Power customer or claims satisfaction ratings. You may want to talk with current Nationwide policyholders before deciding if the company is right for you.

Nationwide customer complaints 

The National Association of Insurance Commissioners (NAIC) collects complaints from customers regarding insurance companies. These complaints are logged by product type and may help give you an idea of how satisfied customers are with each carrier and each carrier's different insurance policy types. 

NAIC Complaint Indexes have a baseline of 1.00, meaning companies with scores below 1.00 received fewer complaints than expected based on their market share. The inverse is also true; Companies with complaint indexes above 1.00 have more complaints than expected against them.

Other Nationwide tools and benefits

Auto, homeowners and life insurance are common products for major insurers, but Nationwide offers many more products and services including:

• Banking: Nationwide’s partner Axos Bank offers customers an array of personal banking and lending services. These include checking, savings, money market and CDs, mortgages, refinancing for home and auto loans, and personal loans.
• Renters insurance: If you are a renter, a renters insurance policy insures your belongings and provides liability protection and additional living expenses. You may even qualify for a bundling discount on your auto insurance and renters insurance.
• Umbrella insurance: Umbrella coverage provides an additional layer of liability coverage above the standard liability limits on any underlying auto and home policies you have.
• Pet insurance: With Nationwide’s pet health insurance, eligible veterinary costs may be reimbursed. Existing Nationwide customers might even earn a 5 percent discount off their pet health insurance policy premium.
• Long-term care insurance: Nationwide offers long-term care insurance, which may help cover expenses that result from home care, assisted living or facility care. 
• Mobile app: With the Nationwide mobile app, policyholders can file a claim and make changes to their policy without contacting an agent (although you may still want to talk with a licensed professional before updating your coverage).

Frequently asked questions about Nationwide

Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Auto insurance rates are weighted based on the population density in each geographic region.

Auto

Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually. 

These are sample rates and should only be used for comparative purposes. 

Age: Rates were calculated by evaluating our base profile with the ages 16-60 (base: 40 years) applied. Depending on age, drivers may be a renter or homeowner. Age is not a contributing rating factor in Hawaii and Massachusetts.

The rates for drivers ages 16-20 added to their parent's policy reflect the good student and driver's training discounts applied. The rates for drivers aged 16-20 on their own policy do not include the good student and driver's training discounts. Additionally, 25-year-old rates are based on the driver as a renter and 30+ on the driver as a homeowner. 

Incidents: Rates were calculated by evaluating our base profile with the following incidents applied: clean record (base), single speeding ticket and single at-fault accident.

Homeowners

Quoted rates are based on 40-year-old male and female homeowners with a clean claim history, good credit and the following coverage limits:

• Coverage A, Dwelling: $150,000, $250,000, $350,000, $450,000, $750,000
• Coverage B, Other Structures: $15,000, $25,000, $35,000, $45,000, $75,000
• Coverage C, Personal Property: $75,000, $125,000, $175,000, $225,000, $375,000
• Coverage D, Loss of Use: $30,000, $50,000, $70,000, $90,000, $150,000
• Coverage E, Liability: $300,000, $300,000, $300,000, $300,000, $500,000
• Coverage F, Medical Payments: $1,000

The homeowners also have a $1,000 deductible and a separate wind and hail deductible (if required).

These are sample rates and should be used for comparative purposes only. Your quotes will differ.

Bankrate Scores

Our 2023 Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories. 

Like our previous Bankrate Scores, each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. This year, our 2023 scoring model provides a more comprehensive view, indicating when companies excel across several key areas and better highlighting where they fall short.

• Tier 1 (Cost & ratings): To determine how well auto and home insurance companies satisfy these priorities, 2023 quoted premiums from Quadrant Information Services (if available), as well as any of the latest third-party agency ratings from J.D. Power, AM Best and the NAIC, were analyzed.
• Tier 2 (Coverage & savings): We assessed companies’ coverage options and availability to help policyholders find a provider that balances cost with coverage. Additionally, we evaluated each company’s discount options listed on its website.
• Tier 3 (Support): To encompass the many ways an auto and home insurance company can support policyholders, we analyzed avenues of customer accessibility along with community support. This analysis incorporated additional financial strength ratings from S&P and Moody’s and factored a company’s corporate sustainability efforts.

Tier scores are unweighted to show the company's true score in each category out of a possible five points.