Nationwide Insurance Review 2024

Nationwide is best for safe drivers, individuals with a low credit score, and parents of teens seeking affordable insurance.

Nationwide Is Best for Those Who:

• Want to work one-on-one with an agent
• Want to add teens to their policy at an affordable cost
• Need commercial auto insurance (especially fleet owners)
• Have bad credit
• Drive safely and are eligible for Nationwide’s many safe driver discounts

Nationwide Is Not Best for Those Who:

• Work for a rideshare service and need rideshare insurance
• Live in one of the three states Nationwide does not serve
  • Alaska
  • Hawaii
  • Louisiana

Why I Would Consider Nationwide

Although I’m a State Farm customer, there are a few reasons I would consider switching to Nationwide. If, for example, my credit score took an unexpected plummet — let’s hope that doesn’t happen — I would consider Nationwide, as its prices are among the lowest for drivers with bad credit. With an average rate of $2,421 for drivers with bad credit, Nationwide ranks lowest on several data sets, often right behind or just in front of GEICO, depending on the study.

Here’s how Nationwide’s averages compare the nation by credit score:

Nationwide’s average rate of $2,421 is nearly $1,000 cheaper than the national average, making it one of the most competitive providers for individuals with a poor credit score.

On average, Nationwide charges $1,805 for full coverage, which is about $100 less than the national average. It’s neither the cheapest nor the most expensive insurance, so evaluating your needs and driver profile alongside Nationwide’s discounts and offerings is essential.

Nationwide’s rates are lower than average for teens, people with bad credit, safe drivers, and low-mileage drivers. If you don’t fit into one of these categories, your rates might be higher than the average we presented. Since I drive often and have a good credit score, Nationwide likely won’t be able to beat all the perks I get with my State Farm family plan.

Check out the table below to see how Nationwide stacks up with other major national insurers.

In this section, we will look at Nationwide’s discounts and average rates, with special attention to its safety discounts. You should consider Nationwide if you qualify for some or most of these discounts or if you fit the ideal driver type (safe drivers, teens, bad credit, low mileage).

Here’s a brief view of all of Nationwide’s advertised discounts:

• Multi-policy/bundling discount: An average savings of $646 when bundling car and home insurance²
• SmartRide: Up to 40 percent off when you drive safely with Nationwide’s tracking plug-in
• SmartMiles: Up to 10 percent off and additional per-mile earnings if you drive less each month
• Accident-free: For maintaining an accident-free driving record
• Good student: For maintaining a B average or better
• Automatic payments: For setting up automatic payments
• Safe driver: For five years of safe driving (no at-fault accidents or major violations)
• Defensive driving: For completing a state-approved defensive driving course

Highlighted Savings: SmartRide and SmartMiles

Nationwide has two usage-based insurance programs: SmartRide and SmartMiles. SmartRide rewards you for safe driving, while SmartMiles is a pay-per-mile insurance plan.

If I were to sign up for these programs, I’d have to download an app (SmartRide) and receive a plug-in device so Nationwide can track my driving (SmartMiles). The safer I drive and the fewer miles I drive each month, the less I’d pay for car insurance.

I currently don’t have any safety tracking programs because my insurance is already relatively low. However, if my premiums were higher and I was looking for savvy ways to save, I would look into signing up for either a safe-driver tracking program or pay-per-mile program.

Below I’ll show you how to sign up for each of these programs.

How Does SmartRide Work?

You get a 10 percent discount for signing up for SmartRide, and up to 40 percent off depending on your driving behaviors. Nationwide advertises that most drivers receive their first discount within 80 days. This is faster than some other providers, like State Farm, which make you wait until your next renewal for your safe driving discount.

After you sign up for SmartRide, you’ll download the app so Nationwide can track your driving habits through your phone. If you also participate in SmartMiles, you’ll use a plug-in device instead. The app/device will track your driving habits, score you based on those habits, and reward you for safer driving.

Nationwide tracks four key metrics via SmartRide:

1. Miles driven: The less you drive, the more you save. Although this is a feature of SmartRide, it differs from SmartMiles, which we’ll look at below.
2. Hard braking and acceleration: Sudden increases in speed or hard braking could hurt your score.
3. Night-time driving: Driving between midnight and 5 a.m. could decrease your score.
4. Idle time: Nationwide considers idle time — an indicator of being stuck in traffic — a higher driving risk and will penalize you for it.

If you score well for each of the four metrics, you can save up to 40 percent on your premium. That is a considerable chunk, even compared to the most competitive safety driving tracking programs.

How Does SmartMiles Work?

SmartMiles is a separate pay-per-mile auto insurance program that tracks how many miles you drive each month.

SmartMiles calculates your premium based on two numbers: your flat-based rate, which stays the same each month, and your per-mile rate, which fluctuates based on how many miles you drive each month.

In the example above, the base rate is $60, which stays $60 for each month within a renewal period, and the driver gets charged $0.07 per mile per month. A charge of $35 for their pay-per-mile means the driver logged 500 miles that month. Assuming similar mileage throughout the month, they pay only $1,140 per year, or nearly half the national average. Those are huge savings, making pay-per-mile insurance a very attractive alternative to standard insurance for those who don’t drive often. Nationwide also has a road trip exception, meaning it won’t charge for more than 250 miles per day. In addition, at your renewal, you can save up to 10 percent for safe driving.

Nationwide offers all of the basic coverage types you’d find in a major provider: liability, personal injury protection, collision, comprehensive, medical payments, and uninsured/underinsured motorist.

On top of that, it also offers some add-ons that you may want to consider as a Nationwide customer. Here are a few of those add-ons:

With no firsthand experience with Nationwide’s customer service, I’ve analyzed third-party customer reviews to see what customers have to say about working with Nationwide.

• The AM Best Financial Strength Rating assesses insurance companies on their financial strength and creditworthiness, which is important to demonstrate providers’ abilities to fulfill claims and financial obligations. Nationwide’s A rating indicates excellent financial strength, meaning Nationwide demonstrates a good ability to meet its ongoing financial needs and can reliably pay out claims.
• The CRASH Network surveys collision repair shops and assesses how easy a company is to work with. Nationwide’s C score is just under the national average of C+; however, it scored third highest among the 10 largest providers.
• Finally, J.D. Power’s annual customer service surveys score companies based on customers’ experiences with claims or customer service interactions. They consider how long it takes for a claim to be paid out, how long repairs take, ease of digital interactions, and more. Nationwide placed third among large insurers and 14th overall.

Here’s a succinct summary of those scores.

At AutoInsurance.com, we review auto insurance providers on four factors:

• Price (40%): We assess average premiums for full and minimum coverage for good drivers with good credit, as well as various driver profiles, including those with DUIs, accidents, minimal experience (like teens), or low credit scores. Available discounts are also considered. Our full coverage averages are based on the following limits:
  • Bodily injury liability: $100,000 per person/$300,000 per accident
  • Property damage liability: $50,000 per accident
  • Uninsured and underinsured motorist bodily injury: $50,000 per person/$100,000 per accident
  • Comprehensive and collision: $500 deductible
• Claims Handling (25%): A strong claims process should be prompt, transparent, and efficient. We evaluate insurers based on clear communication, fair damage assessment, and timely resolution or payment. We use sources like the CRASH Network Insurer Report Card, J.D. Power’s Claims Satisfaction Report, and financial strength ratings from AM Best and S&P. Real-life customer experiences are included where available.
• Customer Experience (25%): The ease of the customer journey is key, from obtaining a quote and purchasing a policy to making changes or accessing documents. We get quotes from providers ourselves. We assess both online and agent interactions, as well as the functionality of the insurer’s website and mobile app. Our sources include J.D. Power studies, the NAIC complaint index, BBB ratings, and app store reviews.
• Coverage Options (10%): We examine each company’s coverage offerings, giving value to those that provide options beyond the state-required minimums, such as accident forgiveness, gap coverage, rideshare coverage, and more.

Read more about our ratings and methodology.