Nationwide Insurance Review

Let me first say, Nationwide Mutual Insurance Company is huge. Therefore, this review is quite lengthy. I have done my best to slim it down to only the important points, and I am confident it will aid you in your research if you make it to the end.

With any large organization, you undoubtedly will have good things as well as bad things. And while we can go on for days about each and every business facet under the Nationwide banner, the focus of this review (for the most part) will be on their insurance business.

Lets begin.

Nationwide Mutual Insurance Overview

Originally founded in 1925 as the Ohio Farm Bureau Federation, Nationwide changed their name in 1955 to Nationwide Mutual Insurance Company.

Who is Nationwide today?

Acquisition is the name and Nationwide is winning the game!

As one of the biggest organizations in the world and certainly one of the largest insurance companies, Nationwide has achieved their big size through not only organic growth, but continued acquisition and partnership.

Nationwide is the flagship name for a number of subsidiary companies, including:

• Titan Insurance
• Colonial Country Mutual
• Crestbrook Insurance
• Victoria Insurance
• Allied Insurance
• Scottsdale Insurance
• Farmland Mutual Insurance

In total, there are over 70 companies that fall under the Nationwide banner.

Nationwide is structured as a mutual company, so unlike a publicly traded organization in which ownership is expressed in stock, Nationwide’s policyholders are technically the owners. In theory, this type of corporate structure allows for profits and losses to be passed to members (policyholders) often in the form of premium increases/decreases and dividends. However, not all Nationwide affiliated companies are mutual companies.

So what does that mean for you?

There are positives and negatives that come with a true mutual insurance company. On the plus side, the organization is supposed to operate in the best interest of the policyholders, as well as pass savings along to you. On the negative side, policyholders can be on the hook for bad financial years (higher premiums).

Insurance Products

Nationwide offers a number of products to their customers, they are a full service company. This section will dive into the different insurance coverage options available, as well as my thoughts about them.

Auto Insurance

Nationwide was founded as a car insurance company and that aspect of their business continues to be the largest part of their overall portfolio. In addition to car insurance, Nationwide also offers coverage for:

• Motorcycles
• Snowmobiles
• ATVs
• RVs
• Boats
• Personal Watercraft
• Scooters

Nationwide offers insurance policies in 44 states & Washington DC, with coverage terms that include a standard set of protection, typically referred to as bodily injury and property liability.

Their auto insurance policies can be supplemented with optional add-ons:

• Collision
• Comprehensive
• Uninsured Motorist
• Underinsured Motorist
• Roadside Assistance
• Medical Payment Coverage
• Personal Injury Protection
• Gap Insurance
• Rental Reimbursement

In addition to standard insurance offerings, Nationwide’s marketing department has devised products and features to help them stand out from the crowd. We have found, as with most of their competitors, these additional “add-ons” are used more to build fancy commercials with catchy jingles in an effort to attract new customers. When you get down to the meat of these products, they often lack much value for the policyholder.

VANISHING DEDUCTIBLE®

Similar to Safeco’s diminishing deductible, Nationwide offers as an add-on (add-ons are typically not free) to your basic auto policy. I am sure we have all seen the commercials presenting it as a cost saver