Is Nationwide a good insurance company?
UPDATED: Aug 22, 2011
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Asked August 22, 2011
Nationwide insurance has over 150 billion dollars in issued policies, making them one of the top three insurance companies in the United States. Founded in 1925 in Ohio, Nationwide became a public company in 1996, and includes a full suite of financial planning and insurance lines.
As of march 2011, nationwide is rated as A+ (superior) with a long-term outlook of AA-. The long-term outlook for the company is negative, which means that although the current rating is superior, the probability of losses over time outweigh the potential for positive growth. Their rating indicates a potential for growth, but the negative outlook is a warning for investors to be wary.
Nationwide customer reviews leave a lot to be desired. The overall satisfaction rating in online surveys is less than 25%, with primary complaints revolving around claims that were ignored or handled in an inconsistent manner. Keep in mind, however, that nationwide is one of the largest insurers in the country, and could not have accomplished that without sound offerings and attentive service.
Nationwide Insurance ReviewsCompany Availability
Nationwide insurance is available in 44 states, sold through the parent company and its subsidiaries. Nationwide insurance is sold through dedicated and independent agents alike, including several different insurance lines ranging from auto insurance to home and life insurance.
The Bottom Line
Nationwide is a large conglomerate of insurance companies, but it is currently going through worrisome times. There is no reason to believe that Nationwide will default on your claims, but there are other companies with a stronger financial foundation to trust your property with. Nationwide is a good company, but it has a lot of room for improvement. It would not be fair to say that the company should be avoided, but it would be a good idea to do some current research rather than blindly choosing Nationwide as your long-term insurance carrier.
Answered August 22, 2011 by Anonymous