In this article, we will review small business insurance and a few other insurances offered by the great Nationwide Insurance Corporation.
Nationwide Insurance Company was established in Columbus, Ohio, in 1926. A wide range of commercial insurance products is available from the insurance provider. It provides general liability insurance, commercial property insurance, workers’ compensation insurance, commercial auto insurance, and a variety of other types of insurance.
What is Nationwide Insurance Company?
The Nationwide Mutual Insurance Company & its affiliates are a conglomerate of significant USA insurance and financial services firms headquartered in Columbus, Ohio.
In addition to Scottsdale, AZ, Des Moines, IA, San Antonio, TX, Gainesville, FL, Raleigh, NC, Sacramento, CA, and Westerville, OH, the corporation has regional headquarters in Des Moines.
Nationwide starts its business as Farm Bureau Mutual Insurance Company in 1925. The company had increased its coverage area to 20 states, including those on the west coast, just 25 years after its foundation, and the name was changed to Nationwide to better reflect the organization’s objectives.
Nationwide presently employs about 26000 people and is placed #76 on the Fortune 500 list for 2019.
In Fortune’s “100 Best Companies to Work For,” Nationwide is ranked #91 as per list in 2019. A component of the business, Nationwide Financial Services (NFS), was partially listed on the New York Stock Exchange until being repurchased by Nationwide Mutual in 2009.
Since the company went public in 1997, it has owned the majority of NFS common stock. Nationwide is 1 of the best Insurance services. They are in several types of insurances including auto insurance, health & travel insurance also.
Nationwide has a major presence in the Columbus, Ohio metropolitan areas of Dublin, Grandview Heights, and Grove City, in addition to downtown Columbus.
The Nationwide motto, “Nationwide is on Your Side,” was initially introduced to the public in 1965 and was later adapted to music in 1969.
It was developed by famed jingle composers named as:-
Steve Karmen. (Jingle Singers & Performers Across the U.S.)
Jana Kramer (is a model and actress).
Peyton Manning (is a quarterback who has won multiple Super Bowls)
Leslie Odom Jr. (is a basketball player from the Los Angeles Lakers.)
Brad Paisley (is a country music artist).
Rachel Platten (is a model and actress).
Julia Roberts (is a well-known actress).
Nationwide is now one of the world’s largest insurance firms, with statutory assets of around $160 billion. The company’s headquarters are in Columbus, Ohio. It provides a comprehensive range of insurance services throughout the United States, including automobile, motorcycle, boat, homeowners, pet, farm, life, and commercial insurance, as well as administrative services, annuities, mortgages, mutual funds, pensions, long-term savings plans, and specialty health services.
Additionally, small firms can acquire a business owner’s policy (BOP), which bundles several different types of company insurance into a single policy.
The general liability insurance provided by Nationwide is the most widely purchased plan. Nationwide along with Chubb are considered as 2 of the best organisations in Insurance Sector.
Is Small Business Insurance Available through Nationwide Insurance Company?
Yes, Nationwide provides Small business insurance along with any type of business insurance with a particular emphasis on commercial plans for small businesses.
With almost $20 billion in annual insurance premiums underwritten across a wide range of products, Nationwide Mutual Group is one of the largest insurance firms in the United States, and one of the world’s largest.
In addition to conventional plans, Nationwide also provides customized coverage for specific industries including construction, retail, food and beverage, and others.
How to apply for a Nationwide commercial insurance coverage?
Signing up for Nationwide insurance coverage is a reasonably simple process that takes about 15 minutes. It is possible to obtain a tailored quote in less than 30 minutes by contacting Nationwide at 888-490-1549 or by using the tool on the company’s website.
In order to receive an accurate insurance quote, you’ll need to supply the following information:
If you are applying for commercial car or fleet insurance, you will need to include the vehicle types, vehicle identification numbers, and the names of any drivers who will be operating the vehicles.
- If appropriate, information on the construction of any buildings you own, such as the age, materials used, and square footage.
- Basic information about your company, such as your annual sales figures; and
- information on your employees, as well as the number of employees you have on hand. In some areas, you may also be required to give information on contractors who may be eligible for workers’ compensation benefits, such as construction companies.
- Information about any previous insurance claims that your company may have filed.
In a nutshell, you must do the following:
- Go to the Nationwide Insurance website.
- Select “Business” from the drop-down option on the left.
- Click on the “Start Your Quote” button.
- Provide answers to a few questions about your company.
- Request a quote
What is the cost of Nationwide’s Small Business Insurance?
When it comes to the cost of small business insurance, Nationwide is competitive.
The average cost of Nationwide’s commercial insurance policies ranges from $18 to more than $170 per month and is primarily determined by your company’s: industry, location, gross sales, number of employees and/or payroll, policy limits, endorsements, deductibles, experience, and claims history, among other factors.
What Business Coverages are offered by Nationwide other than small business insurances?
Nationwide Provides a Variety of Commercial Insurance Coverages
Over 35000 individuals are employed by the company nationwide.
Additional to this, the corporation handles almost $3 billion dollars in gross premiums each year. It offers its commercial products and provides services through its subsidiaries, which include Allied Group,
Harleysville, Nationwide Agribusiness, Gates McDonald, Scottsdale Insurance, and other similar entities. On the Internet, there are a variety of opinions about Nationwide small business insurance.
Having small business liability insurance in place is one of the most crucial aspects of having commercial coverage in place.
Because different industries have varying liability risks, small company insurance coverage can be tailored to meet the specific needs of the firm.
Some of the small business insurance products offered by Nationwide include the ones below:
Business Owners Policy – This type of policy typically includes liability insurance, property insurance, business interruption insurance, and crime insurance as well as other coverages as needed.
Nonetheless, because BOP packages are fully configurable, you can select the one that is most important for your company’s specific requirements. Using a BOP is an excellent approach for your small business to save money because the bundled products are less expensive than if they were sold individually. The ratings for Nationwide small business insurance are excellent.
It is a good idea to get Product Liability insurance coverage if your company creates or develops products that are sold to the general public.
Even if your company makes every effort to guarantee that your products are safe, there is always the possibility that you will find yourself the subject of a lawsuit as a result of damages, bodily injury, or disease caused by your product. Commercial reviews from across the country are satisfactory here.
General Liability Insurance – General liability insurance should be carried by every firm.
In the event that your goods or services, you, or your employees are accused of inflicting bodily injury or property damage on a third party, this coverage will shield you from liability.
This is an absolute must-have for any and all small business proprietors. As a tenant, general liability insurance protects you in the event that you cause fire damage to a rented office, shop, warehouse, or other structure.
Commercial Auto Insurance Coverage:-
If you or an employee is involved in an auto accident, commercial auto insurance can assist you in covering the financial costs of the accident and recovery. Damage to property and medical expenditures are both covered by commercial vehicle insurance policies. Whatever your needs, whether you drive your own car or manage a fleet of vehicles, Nationwide has a policy that will meet your needs. The ratings for Nationwide small business insurance are mixed – the company provides good coverage, but several businesses have complained about significant rate increases.
The following optional coverages are available to commercial auto insurance policyholders who purchase their coverage via Nationwide:
- Coverage for the cost of a new car replacement.
- Protection for auto loans or leases.
- Medical payments insurance or personal injury protection insurance (PIP).
The following coverages are available:
- Hired auto physical damage with loss of use coverage, which covers vehicles you lease or rent;
- Increased coverage for towing services, as well as jump-starts and small roadside repairs.
- Reimbursement for the rental.
- Assistance on the side of the road.
Workers’ Compensation Insurance – Workers’ compensation insurance is required in the majority of states. If your company has employees, you are almost certainly required to acquire workers’ compensation insurance. They are attempting to increase their workers’ compensation premium.
The Insurance for Business Interruption:-
The insurance for business interruption protects against the loss of income that results from an event – such as a fire or a burglary – that prevents a company from conducting its normal business operations. If your policy includes coverage for business interruption, it may also include coverage for the costs associated with getting your company back up and running following a disruption. In some cases, this may include covering for temporary relocation expenses, equipment, and even personnel expenditures.
Commercial Property Insurance Coverage:-
Purchasing commercial property insurance is a good idea if you have business personal property such as office equipment, computers, and merchandise on your premises. If there is vandalism, theft, or a fire, for example, the policy will protect you. In the event that your company is unable to operate as a result of any of the aforementioned circumstances, you may want to consider purchasing business interruption insurance.
Umbrella Insurance Coverage:-
When it comes to umbrella insurance, it gives additional limitations over and beyond those provided by your existing insurance plans in the event of a greater claim. When a lawsuit is filed against you for $1.5 million and your General Liability Insurance policy has a limit of $1 million, your umbrella insurance policy kicks in to cover the additional $500,000 in damages. For this type of coverage, the ratings are generally favorable across the country.
Equipment Failure – Whether it’s an industrial table saw or an electrical oven, if your business equipment fails unexpectedly, it can throw a monkey wrench into your operations and cause significant disruption. Equipment breakdown insurance can assist with the costs of repair or replacement of damaged equipment.
Insurance Protection in case of Cyber Frauds:-
In the event that you store sensitive information such as payment data or credit card information, cyber liability insurance is recommended. It provides coverage in the event of data theft or loss involving both first-party and third-party information. Thus, whether the data breach occurs within your organization or within a company whose data you are working with, you are protected. This coverage is provided through a partnership between Nationwide and another company.
Nationwide Business Insurance Advantages:
- Nationwide is financially sound, has a long history as a Fortune 500 company, and is one of the largest insurers in the world.
- The business makes it simple to customize policies to fit the needs of various business sizes and industries.
- Although Nationwideis beneficial for all types of Businesses. But it is best for small business insurances.
- Nationwide provides rapid access to live representatives as well as local agents, as well as customer care via the phone and through its nationwide network of agents.
Is it a good idea to get business insurance from Nationwide?
Insurance policies differ from one company to the next and from one supplier to the next. As with any vendor, it’s a good idea to get quotations from a few different insurance companies and compare the ones that make the most sense for your business.
Nationwide is well-suited to a variety of small-business formats. If your company has several or all of the following traits, you might want to consider going with Nationwide:
- Your small business needs a variety of insurance coverage.
- Working with a single insurance company that handles all of your policies might be advantageous.
- You’d like to get a multi-policy discount.
- You want a company that has resources and help all around the country.
Nationwide Small Business Insurance works with a variety of industries.
Some of the Nationwide Small Business Insurance Industries are:-
Retail establishments and services contractors, Auto service and repair shops, Wholesaler and distributor, Food and beverage, Professional businesses such as accountancy, architect, attorney, consultancy, interior design, medical clinic or veterinarian enterprises
Frequently Asked Questions on Nationwide
What Kinds Of Business Insurance Does Nationwide Provide?
General Liability, Commercial Property, Workers Compensation, Commercial Auto, and other small business insurance policies are available from Nationwide.
What is the cost of Nationwide’s small business insurance?
The typical monthly cost of a commercial insurance policy from Nationwide ranges from $22 to $179, and is mostly determined by the following policies: industry, location, gross sales, employees and/or payroll, policy limits, endorsements, deductibles, experience, and claims history.
What kind of business insurance do you require?
General liability insurance is required for all enterprises. It protects you and your employees from third-party liability if your products or services cause personal injury or property damage. Other types of insurance may be required depending on the type of business you run. Their Small Business Insurance is one of the best insurance they have.
Who are the people behind Nationwide?
Nationwide is a small business insurance business that offers a variety of insurance options. They’ve been around since 1926 and currently serve over 1 million small businesses directly and through subsidiaries.
Is Nationwide Insurance a reputable company?
Since 1926, Nationwide has been in business as a legal entity. They are a business that sells commercial insurance all around the country. The insurance sector is extensively regulated. You may rest comfortably that Nationwide is a respectable business with a well-known brand.
What is Nationwide’s most popular small business insurance?
The most popular small business insurance policy issued by Nationwide is general liability insurance. This policy shields a business from liability in the event that a customer is injured or if negligence happens.
Is it possible to buy small business insurance from Nationwide online?
Small business owners can apply for insurance online through Nationwide’s website. Visit their website or phone their customer care number to make a transaction.
Other Main Points of Nationwide Insurance
Making assertions: When you need to lodge a claim, this company provides fast access to live personnel. On the Nationwide website, you may pay bills, adjust policies, and access documentation. There are additional resources on the site to help you plan your retirement. Alternatively, you can use the Nationwide mobile app, which is available for iOS and Android, to manage your policy, file a claim, contact customer service, and obtain insurance ID cards.
You can pay by check, debit card, or credit card, and you can do it by mail, online, over the phone, or by having it deducted automatically from your checking account. The company offers a number of discounts that might help you save money on insurance without losing coverage quality.
Customer care is available online, over the phone, or through Nationwide’s huge network of agents.
Geographical Range: The products of Nationwide are available in all 50 states of the United States. For its specialist products, it works with over 6,200 independent agents, as well as general agents and brokers.
- We had added the organisation logo for Review and Discussion Purposes and in good faith. If the organisation object to it. They can contact us. We will remove it within 48 hours. The Credit of Logo is goes to The Nationwide Insurance.