Nationwide Insurance Review

Boasting superb financial ratings and a reputation for excellent customer support, Nationwide delivers a full complement of basic and specialized policy options, making it a top all-around option for businesses in a variety of industries.

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The Good

Comprehensive selection of coverage options

Select a standalone general liability or business property policy, or combine the two options into a single business owner’s policy (BOP). Then select additional coverage to protect you in the event of an equipment breakdown, a data breach, or a criminal act. Specialized liability coverage options provide you extra protection against certain claims common to your industry, including claims of negligence, claims of injury from faulty products, and claims of slander or libel. Nationwide Insurance makes it easy to build a specialized policy by offering comprehensive business packages for dozens of business types in 10 different industries. From retail stores and restaurants to medical clinics and law offices, Nationwide has a comprehensive policy that delivers just the protection you need to respond to unforeseen events and calamities. If you don’t find the coverage options you need in one of the industry packages, work with a local agent to build a unique policy matched to your business.

Very strong financial ratings

Nationwide Insurance boasts some of the best financial ratings in the business insurance industry. Financial ratings provide insight into a company’s current operations and market standing and indicate the company’s financial outlook going forward. Nationwide Insurance garners A+ ratings for financial strength from the likes of Standard and Poor’s and A.M. Best, two of the top ratings agencies in the country. These ratings reflect a very strong to superior capacity to meet financial commitments. Moody’s, another top ratings agency, gives Nationwide Insurance an A1 rating, indicating a low credit risk going forward. If you’re looking for an insurance company to rely on for the long haul, Nationwide is definitely worth a careful look.

Dedicated telephone support for business policyholders

While virtually every major national insurance company provides 24-hour call-center support, few operate a dedicated telephone support line just for business insurance customers. Instead of talking to a support agent who may deal with life, auto, property, travel, and business insurance in the course of a single day, Nationwide business policyholders get to speak to experts who specialize in nothing but business policies. With Nationwide, you won’t ever have to struggle to find someone who can answer your business policy questions clearly and efficiently.

Full selection of online tools and resources

While many insurance companies have yet to develop dedicated online services for business insurance customers, Nationwide has made a concerted effort to provide the same level of online convenience most consumer auto and home insurance policyholders have long enjoyed. Log in to your Nationwide account to pay your monthly premium or set up an automatic recurring payment. Initiate a claim online at any time and a claims agent follows up with personalized telephone support soon after. Nationwide also delivers online policy access, a capability that remains pretty uncommon in the industry. Instead of searching through your file cabinet for policy documents or contacting your local agent for help, log in to your account and find the documents you need in seconds. The Nationwide Insurance website also serves as a terrific learning resource, with a thorough introduction to each policy and coverage option, business insurance glossary, and other general insurance learning resources.

Several discounts available

As a Nationwide business insurance policyholder, you may be eligible for a couple different discounts depending on what state you live in. If you hold more than one business policy through Nationwide, such as a business owner’s policy and a commercial auto policy, for example, you’re eligible for a nice discount in most states. Additionally, if you renew your policy over several years without suffering any major losses, you may be eligible for another discount. To learn more about discount terms in your state, contact a local Nationwide agent.

The Bad

Lacks some industry policies

While Nationwide offers insurance protection packages for businesses in more than 10 different industries, it does lack policy packages for a couple of important sectors, including manufacturing, hospitality, and real estate. The lack of policy packages for these industries doesn’t mean you’re ineligible for Nationwide business insurance if you operate a factory, a hotel, or a real estate agency. However, it does indicate Nationwide does not target these types of businesses in the same way they target other common types of businesses. To determine what kinds of policies are available in these industries, contact a Nationwide agent. Depending on the details of your business, an agent may be able to help you put together a unique package that meets all your business needs.

The Details

Financial Strength

  • A.M. Best FSR Rating: A+
  • A.M. Best ICR Rating: aa-
  • Moody's Rating: A1
  • Standard & Poor's FSR: A+
  • Standard & Poor's ICR: A+

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