Nationwide Auto Insurance Refunds: What You Need To Know

Nationwide is one of the largest insurance companies in the world, offering a variety of insurance products, including home, auto, commercial, and life insurance. During the COVID-19 pandemic, Nationwide was one of many auto insurance companies that offered refunds to customers who were driving less due to social distancing. In 2020, the company provided a one-time refund of $50 per policy for customers with an active auto policy as of March 31, 2020. In addition to this, Nationwide customers with an active personal auto policy at the end of April and May received a 20% credit on their monthly premiums.

Nationwide customers received a one-time refund of $50 per policy

In response to the coronavirus outbreak, many auto insurance companies are offering refunds and discounts to their customers. Nationwide is one of them.

In addition to the one-time refund, Nationwide also offered further credits to customers with an active personal auto policy at the end of April and May. These customers received a 20% credit of their April and May premiums.

Nationwide's decision to provide refunds and credits to its customers was a way of giving back to its customers during the difficult times of the coronavirus outbreak, when many people were driving less and facing financial challenges.

Customers with an active personal auto policy at the end of April received a 20% credit

In response to the coronavirus outbreak, Nationwide auto insurance is giving refunds to its customers. Customers with an active personal auto policy at the end of April received a 20% credit on their April premium. This was part of a wider package of refunds, with customers receiving a one-time refund of $50 per policy as long as their auto policy was active as of 31 March 2020.

The 20% credit was also applied to active personal auto customers at the end of May and potentially in future months, depending on how the situation evolved. This was a significant benefit to customers, who were driving far less during the outbreak and facing financial challenges.

Nationwide's refunds were automatically credited to customers' accounts within 30 days, so customers did not need to take any action to receive the refund. This was a welcome initiative from Nationwide, helping to ease the financial burden on its customers during a difficult time.

Customers will receive an additional 20% credit at the end of May

In response to the coronavirus outbreak, Nationwide auto insurance is giving back to its customers. The company has announced that customers will receive a one-time refund of $50 per policy as long as their auto policy was active as of 31 March 2020. This refund will be automatically credited to the customers' most recent payment method within 30 days.

In addition to this, customers with an active personal auto policy at the end of April will receive a credit for 20% of their April premium. A further 20% credit will be applied to active personal auto customers at the end of May and potentially in future months, depending on how the situation evolves. This means that customers will receive an additional 20% credit at the end of May, and possibly more in the following months.

Nationwide is one of several insurance companies offering refunds and discounts to customers during the coronavirus pandemic. Others include Allstate, Liberty Mutual, The Hartford, Farmers, Geico, State Farm, and USAA.

No cancellation or early termination fee

Cancelling your insurance policy is a standard procedure, and you are allowed to do so at any time. However, it's important to understand the potential consequences, such as cancellation fees, losing discounts, and higher premiums with a new provider.

When it comes to Nationwide Auto Insurance, they do not charge any early termination or cancellation fees. This means that if you decide to cancel your policy with them, you won't incur any additional costs beyond the premiums you've already paid. This is a significant advantage, as some insurance companies charge a fee for early termination, which can eat into the savings you might expect if you switch providers.

The process of cancelling your Nationwide Auto Insurance policy is relatively straightforward. You can cancel at any time, even in the middle of the term, without incurring any fees. Here are the steps you can take:

• Look up your renewal date: Although Nationwide allows you to cancel at any time, it's a good idea to check your renewal date. This way, you can time your cancellation to avoid a coverage lapse, which could result in higher premiums and fines. You can find this information on your policy declaration page, insurance ID card, or by contacting your insurance agent.
• Compare car insurance quotes: Before committing to a new provider, it's beneficial to compare quotes from different insurers. Rates can vary based on factors such as location, age, driving record, and vehicle specifications. By comparing quotes, you can find the most cost-effective option for your needs. Additionally, different insurers offer various discounts, so it's worth exploring these to maximize your savings.
• Secure a new car insurance policy: It's crucial to have continuous coverage, so ensure you have a new policy in place before cancelling your Nationwide policy. The process of obtaining a new policy typically involves applying online or working with an agent. Provide the necessary information, including your desired policy effective date, vehicle identification number (VIN), and payment details.
• Cancel your Nationwide policy: Nationwide does not allow online cancellation, so you'll need to call your insurance agent or their customer service line at 1-877-669-6877. They may also allow you to cancel in person at a Nationwide branch.
• Follow up on your refund: If you have prepaid your premiums and are cancelling before the end of the term, you may be eligible for a refund for the remaining months. Contact Nationwide or your insurance agent to clarify whether you are entitled to a refund and to understand the process and timing of receiving it.

Remember, while Nationwide does not charge early termination or cancellation fees, there may be other financial implications to consider when switching insurance providers. These can include losing loyalty or multi-vehicle credits, higher initial payments, and potential administrative fees with your new insurer. Therefore, it's always a good idea to carefully review your options and discuss them with an insurance professional before making any decisions.

You can cancel your policy by calling your insurance agent

To cancel your Nationwide auto insurance policy, you will need to make a phone call or visit a branch in person. Nationwide does not allow you to cancel your auto insurance policy online.

Step 1: Look up your renewal date

You can cancel your Nationwide policy at any point in your policy term. However, it may be more convenient to wait until the policy renewal date to avoid a coverage lapse, which can lead to higher premiums and fines. You can find your car insurance renewal date online, on your policy declaration page, or on your insurance ID card. Your insurance agent can also provide this information.

Step 2: Compare car insurance quotes

Before cancelling your current policy, it is advisable to compare quotes from different insurers. Auto insurance rates are calculated based on various factors such as location, age, driving record, and vehicle specifications. By comparing quotes, you can find the best policy for your needs. Additionally, different insurers offer varying discounts, so it is beneficial to explore these options.

Step 3: Secure a new car insurance policy

Before cancelling your original policy, ensure that you have a new car insurance policy in place. This will help you avoid a gap in coverage. The process of obtaining a new policy involves either applying online or working directly with an agent. When applying, you will need to provide basic information about yourself, your vehicle, and your desired coverage.

Step 4: Cancel your Nationwide policy

To cancel your Nationwide policy, you will need to contact your insurance agent or call the Nationwide customer service phone number. Your insurance agent can answer any specific questions related to the cancellation. You can find your agent's contact information on your policy declaration page, insurance ID card, or billing statement. If you do not have an insurance agent, you can call 1-877-669-6877 to speak with a customer service representative. Alternatively, you may be able to cancel your policy in person by visiting a Nationwide branch.

Step 5: Follow up on your refund

When you cancel your Nationwide policy, you may be eligible for a refund if you had prepaid your premium. For example, if you paid for a full year's premium but cancel halfway through, Nationwide will refund the remaining months' worth of premium. To understand your refund eligibility, contact Nationwide or speak to your insurance agent.

Frequently asked questions