Jeffrey Wade
Nationwide Mutual Insurance Company and affiliated companies, commonly shortened to Nationwide, is a group of large U.S. insurance and financial services companies based in Columbus, Ohio. Nationwide has been in business for almost 90 years and is one of the largest insurance and financial services companies in the world. The company offers a range of insurance products, including car, motorcycle, homeowners, pet, farm, life, and commercial insurance, as well as financial services such as banking, retirement plans, and investments. While Nationwide does offer banking services through its partner Axos Bank, it is not clear if there is a specific Nationwide Bank that is part of the Nationwide Insurance group.
| Characteristics | Values |
|---|---|
| Type of company | Insurance and financial services |
| Location | Headquartered in Columbus, Ohio |
| Regional headquarters | Scottsdale, Arizona and Des Moines, Iowa |
| Number of employees | 25,000 |
| Fortune 500 ranking | No. 75 in 2024 |
| Fortune 100 ranking | Yes |
| Year established | 1926 |
| Products offered | Car, motorcycle, homeowners, pet, farm, life, commercial insurance, annuities, mutual funds, retirement plans, specialty health services, banking |
| Customer service | Good |
| Claims payments | Quick |
| NAIC rating | 1.49 |
| Availability of car insurance | All states except for LA, AK, HI, Alaska, Hawaii, Louisiana, and Massachusetts |
| Availability of home insurance | Not available for new customers in AK, FL, HI, LA, MA, NJ, and NM |
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What You'll Learn
Nationwide Insurance Reviews
Nationwide Mutual Insurance Company, commonly shortened to Nationwide, is a group of large U.S. insurance and financial services companies based in Columbus, Ohio. The company offers a wide variety of insurance products for individuals and businesses, as well as banking/investment services and retirement plans.
Nationwide has received mixed reviews from its customers. WalletHub's editors gave Nationwide a rating of 2.6/5 based on customer reviews, sample insurance quotes, and ratings from organizations like J.D. Power and Better Business Bureau (BBB). WalletHub's price ranking study places Nationwide in the bottom quartile, indicating that its car insurance is more expensive than most of its competitors. However, Nationwide's car insurance coverage options are basic, and they make it convenient to bundle auto insurance with other types of policies. Nationwide car insurance is not available in Alaska, Hawaii, Louisiana, or Massachusetts.
On the other hand, U.S. News ranks Nationwide as the third-best car insurance company out of ten, with an average rate that is the fourth-cheapest among the analyzed companies. Nationwide scored 4.2 out of 5 for claims handling and customer loyalty and 4.4 out of 5 for customer service. Sixty-one percent of survey respondents were satisfied with the ease of contacting Nationwide's customer service, and 59% were satisfied with the service they received. Additionally, 76% of Nationwide customers were likely to recommend the company to others, and 80% were likely to renew their policies.
Bankrate also gave Nationwide a positive review, suggesting that the company could be a good fit for drivers and homeowners seeking personalized insurance coverage at affordable prices. They highlighted Nationwide's unique coverage options, such as accident forgiveness and a vanishing deductible, and gave the company a score of 4.0 out of 5.0.
While some customers have praised Nationwide for its good customer service and quick claims payments, others have expressed disappointment with their experiences, particularly in handling accident investigations and claims. It is always important to consider a variety of reviews and perspectives when evaluating insurance companies and their offerings.
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Nationwide's History
Nationwide, formerly known as Farm Bureau Mutual Automobile Insurance Company, was founded in 1926. Created by farmers for farmers, its original mission was to deliver quality auto insurance to rural communities often overlooked by larger insurers. In the 1920s, farmers paid the same rates on their automobile insurance as city drivers, despite having fewer accidents and claims. The Ohio Farm Bureau, therefore, decided to set up its own insurance company to offer rates that accurately reflected farmers' driving habits. Farm Bureau Mutual wrote its first property insurance policy with the purchase of a fire insurance company and later acquired the Life Insurance Company of America.
Farm Bureau Mutual expanded its business into other states, including West Virginia, Maryland, Delaware, Vermont, and North Carolina, and beyond automobile insurance with the establishment of the Farm Bureau Mutual Fire Insurance Company. By 1943, the company operated in 12 states and the District of Columbia. In 1952, it created the Advisory Committee of Policyholders, an industry first, which asked customers to present recommendations to company management.
In 1955, Farm Bureau Mutual changed its name to Nationwide Insurance, and in the following ten years, it expanded into Oregon, making the company truly "nationwide". Nationwide was the first major insurer to endorse Medicare before being required by law. The company also pioneered a seat belt incentive, which provided 50% additional medical benefits to policyholders wearing a seat belt at the time of an automobile accident.
Today, Nationwide is the number-one farm insurer in the country and the approved insurance and financial service provider of eight Farm Bureaus. It has grown from a small mutual auto insurer owned by policyholders to one of the largest insurance and financial services companies in the world, with approximately 25,000 employees and a ranking of No. 75 in the 2024 Fortune 500 list.
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Nationwide's Banking Services
Nationwide Mutual Insurance Company and affiliated companies, commonly shortened to Nationwide, is a group of large U.S. insurance and financial services companies based in Columbus, Ohio. The company operates regional headquarters in Scottsdale, Arizona, and Des Moines, Iowa.
Nationwide offers a wide range of retail banking services, including mortgages, savings accounts, current accounts, credit cards, personal loans, and insurance products. The society was established through the consolidation of over 250 smaller UK building societies throughout the 20th century, making it one of the most significant mutual mergers in British financial history.
Nationwide launched an early UK internet banking service on 27 May 1997. In 1999, Nationwide, together with various UK tabloid newspapers and media, launched a campaign against controversial cash machine fees. In 2007, Nationwide members voted at its annual general meeting to donate at least 1% of pre-tax profits to charitable activities each year.
Nationwide is one of the largest insurance and financial services companies in the world, focusing on domestic property and casualty insurance, life insurance, retirement savings, asset management, and strategic investments.
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Nationwide's Insurance Services
Nationwide Mutual Insurance Company and affiliated companies, commonly shortened to Nationwide, is a group of large U.S. insurance and financial services companies based in Columbus, Ohio. The company has regional headquarters in Scottsdale, Arizona, and Des Moines, Iowa, and is ranked 75th in the 2024 Fortune 500 list.
Nationwide offers a wide range of insurance products, including car insurance, motorcycle, homeowners, pet, farm, life, and commercial insurance. They also provide annuities, mutual funds, retirement plans, and specialty health services. One of their key strengths is their ability to offer coverage options that may not be available from other carriers, such as accident forgiveness and a vanishing deductible.
Nationwide has a long history, having been in business for almost 90 years since selling its first policy in 1926. The company was founded by the Ohio Farm Bureau to offer fairer rates to farmers on their automobile insurance, as they had fewer accidents and claims than city drivers but were paying the same rates.
Nationwide has received recognition for its commitment to equality and diversity. Since 2004, it has consistently received a 100% rating on the Corporate Equality Index, released by the gay rights activist group Human Rights Campaign. The company includes "sexual orientation" and "gender identity" in its equal employment opportunity policy and provides diversity training to its employees on sexual orientation.
Nationwide has also been recognised for its customer service and quick claims payments, receiving a 4.0 out of 5.0 Bankrate score and a 2.6/5 rating by WalletHub's editors. However, it is important to note that Nationwide's car insurance coverage is not available in all states, and the company has faced some criticism for its handling of specific cases.
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Nationwide's Sponsorships
Nationwide Mutual Insurance Company and affiliated companies, commonly shortened to Nationwide, is a group of large U.S. insurance and financial services companies based in Columbus, Ohio. The company has approximately 25,000 employees and is ranked 75th in the 2024 Fortune 500 list.
Nationwide has been involved in several sponsorships over the years, including nonprofit event sponsorships and partnerships with sports teams and companies. The company's sponsorship decisions are guided by its Community Impact Model, which ensures that the events and organizations it supports align with its mission and values.
One of the well-known sponsorships of Nationwide is its partnership with the NHL's Blue Jackets, which includes naming rights for the team's home arena, the Nationwide Arena. Nationwide is also a top-tier Championship Partner of the Blue Jackets. In addition to this, Nationwide is the Official Insurance Partner of the Triple-A affiliate of the Cleveland Guardians and the jersey sponsor of the Columbus Crew soccer team. The company's logo is prominently displayed on the team's jerseys, both home and away, as well as on all team apparel.
Nationwide has also been a long-time partner of Dale Jr., supporting him both during his racing career and in his second career as a TV analyst. The company has also sponsored various events and initiatives, including the National Urban League's annual conference, the National Black MBA Association, and the United States Hispanic Chamber of Commerce. These partnerships reflect Nationwide's commitment to economic empowerment, equality, and social justice.
Nationwide has also sponsored a television program hosted by Tavis Smiley, showcasing its support for diverse initiatives. The company continuously seeks sponsorships and partnerships that build its brand, drive business, and create positive interactions with its customers and the community.
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Frequently asked questions
Yes, Nationwide Bank is part of the Nationwide Mutual Insurance Company, which is commonly shortened to Nationwide. The company is one of the largest insurance and financial services companies in the world.
Nationwide offers a range of insurance services, including car, motorcycle, homeowners, pet, farm, life, commercial, and health insurance. They also offer annuities, mutual funds, and retirement plans.
Nationwide's partner, Axos Bank, offers personal banking and lending services. These include checking, savings, money market, CDs, mortgages, refinancing for home and auto loans, and personal loans.
