Frequently Asked Questions About
Commercial General Liability Insurance
How much does small business insurance cost?
Costs can vary widely based on industry and are also determined by zip code and often payroll and/or gross sales. Request a free quote to get an exact number. (read more)
What kind of business insurance do I need?
Most business owners need General Liability Insurance at the very least. If you have any non-owner employees, you will need workers compensation insurance too.
What is a Certificate of Insurance?
A Certificate of Insurance is proof of coverage. It lists the type and amount of liability coverage you have and other policy information when a third party requests it. (read more)
Is business insurance tax deductible?
Yes. you can deduct the cost of commercial insurance premiums. The IRS considers insurance a cost of doing business as long it benefits the business & serves a business purpose.
Nationwide Small Business Insurance Reviews
Nationwide Small Business Insurance Reviews 2019 (Ratings, Complaints & Coverage). Nationwide insurance began in 1925 as Farm Bureau Mutual Automobile Insurance Company. Just 25 years after its initial founding, the company had expanded its coverage area to 20 states including those on the west coast and the name was then changed to Nationwide to better reflect the company's ideals.
With more than $157B in statutory assets, Nationwide is now among the world's largest insurance companies. It is headquartered in Columbus, Ohio. It offers a complete range of insurance services across the United States, including car, 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.
If you are a business owner looking to buy liability insurance, read Nationwide small business insurance reviews to learn about Nationwide Insurance's products.
Check out Nationwide reviews, ratings, complaints & coverage for general liability, workers compensation and other small business insurance commercial policies.
Small Business Coverages Offered By Nationwide
Nationwide employs over 36,000 people. In addition, the company processes over $2 billion dollars in gross premiums per year. It sells its commercial products and provides services through Allied Group, Harleysville, Nationwide Agribusiness, Gates McDonald, Scottsdale Insurance and other subsidiaries. The Nationwide small business insurance reviews on the Internet are mixed.
Small business liability insurance is among the most important components of your commercial policy. Different industries have different liability risks, and for this reason, small business insurance policies can be customized. Following are some of the small business insurance products Nationwide offers:
Business Owners Policy - This policy usually includes liability insurance, property insurance, business interruption insurance, and crime insurance. However BOP packages are customizable; so you can get one that is most important for your company's specific needs. A BOP is a great way for your small business to save on money because the packaged products are cheaper than when sold separately. Nationwide business insurance ratings are good.
General Liability - Every business should have general liability insurance. This coverage protects you if your product or services, you or your employees are alleged to have caused bodily injuries or property damages to a third party. This is a must have for all small business owners. General liability also provides liability coverage as a tenant if you cause fire damage to a rented office, shop and warehouse.
Product Liability - If your business manufactures or develops products for sale, it's a good idea to have a Product Liability insurance policy. Even if your business makes every effort to ensure that your products are safe, there is always a chance that you could find yourself involved in a lawsuit because of damages or personal injury and illness caused by your product. Nationwide commercial reviews here are ok.
Commercial Property - If you have business personal property such as office equipment, computers and inventory, you should consider purchasing property insurance. The policy will protect you if there is vandalism, theft, a fire, etc. You may also consider business interruption insurance in case your business is unable to operate due to the above instances.
Commercial Auto - This helps cover the financial costs from an auto accident if you or an employee is involved in an accident. Commercial vehicle insurance will cover both damaged property and medical bills. Whether you use your own car, or a fleet of vehicles to get the job done, Nationwide has a coverage option for you. Nationwide small business insurance reviews are mixed - good coverages but a lot of businesses complain about steep premium increases.
Business Interruption Insurance - Business interruption protects against the loss of income resulting from an event - such as a fire or theft - that impedes business operations. Depending on your policy, it also helps cover the costs associated with getting your business back up and running quickly after a disruptive event. This may include coverage for temporary relocation costs, equipment, and even staff.
Umbrella Insurance - An umbrella insurance policy provides additional limits over those offered by your other insurance policies should there be a larger claim. For instance, if your General Liability Insurance has a limit of $1 million, and a lawsuit is filled against you for $1.5 million, your umbrella insurance policy kicks in to cover the additional $500,000. Nationwide ratingsare decent for this type of coverage.
Equipment Breakdown - Whether it's an industrial table saw, or an electrical oven - if your business equipment suddenly broke down, it may throw a wrench in your operations. Equipment breakdown insurance can help with repair or replacement costs.
Cyber Liability Insurance - Important if you store sensitive information such as payment data or credit card information. It provides coverage after the theft or loss of both first-party and third-party data. So that means you're covered regardless whether the data breach happens directly to your company or to a company whose data you are working with. Nationwide partners with another company to offer this coverage.
Workers Compensation - Workers compensation insurance is mandatory in most states. If your business employs workers, you are likely obligated purchase workers compensation coverage. They are trying to grow their workers comp premium.
Industries Served By Nationwide Small Business Insurance
- Retail stores and services
- Professional businesses such as accounting, architect, attorney, consulting, interior design, medical clinic or veterinarian businesses
- Auto service and repair shops
- Wholesaler and distributor
- Food and beverage
Nationwide Small Business Insurance Reviews & Ratings
Nationwide Insurance has an "A+" Better Business Bureau rating. There is a BBB alert for Nationwide Insurance that had to do with various counterfeit checks that were issued fraudulently by individuals who had no affiliation with Nationwide Insurance. According to the BBB's Nationwide Insurance profile, the company has 101 total reviews. Out of the 101 total reviews, 96 were negative, 4 were neutral and 1 was positive.
Nationwide is also rated A+ by both A.M. Best and Standard & Poors.
Nationwide Insurance Small Business Operations
Making claims: This company offers immediate access to live representatives when you need to make claims. Nationwide's website has a portal where you can pay bills, manage policies and view documents. The site also has tools for planning your retirement. Alternatively, you can manage your policy, start a claim, call for assistance and get insurance ID cards on the Nationwide mobile app, available for iOS and Android.
Billing options: You can pay by check, debit or credit card, and you can make payments through the mail, online, over the phone or have it automatically deducted from your checking account. The company offers a wide variety of discounts that can really bring down insurance costs without sacrificing quality coverage.
Customer Service: Nationwide provides customer service online, over the phone or through its large network of agents.
Geographic Reach: Nationwide offers its products in all 50 US states. Nationwide distributes its property/casualty products through a network of some 3,200 exclusive agents across the US. It also relies on more than 6,200 independent agents, as well as general agents and brokers for its specialty products.
Nationwide Insurance Pros & Cons
Nationwide Business Insurance Pros:
- Nationwide is very stable financially, has a long history as a Fortune 500 company, and is among the world's largest insurers.
- The company makes it easy to tailor policies to meet the needs of different business sizes and industries.
- Nationwide offer immediate access to live representatives, as well as to local agents.
- Nationwide offers customer service over the phone and in the network of agents across the country
Nationwide Ratings Online
Following are some ratings found online which appear mixed:
- BBB.org - The Better Business Bureau rates them 3.73 out of 5 stars.
- ConsumerAffairs.com - Consumer Affairs rates them 3.0 out of 5 stars.
- Yelp.com - Yelp rates them 1.0 out of 5 stars.
Nationwide's Contact Information
Address: One Nationwide Plaza, Columbus, Ohio 43215-2220
Other companies owned: 1717 Advisory Services, Inc., 1717 Brokerage Services, Inc., A Plus Insurance1717 Advisory Services, Inc., 1717 Brokerage Services, Inc., A Plus Insurance Services Incorporated, AGMC Reinsurance, Ltd., AMCO Insurance Company, All City Insurance Servcies, Inc, Allied General Agency Company, Allied Group, Inc., Allied Insurance, Allied Property and Casualty Insurance Company, Allied Texas Agency, Inc, American Marine Underwriters, Inc, Atlantic Floridian Insurance Company, Audenstar Limited, Boyer Insurance, LLC, Cal-Ag Insurance Services, Inc., CalFarm Insurance Agency, Colonial County Mutual Insurance Company, Corviant Corporation, Crestbrook Insurance Company, DVM Insurance Agency, Inc., Depositors Insurance Company, Eastwood Insurance, F & B, Inc., Farmland Mutual Insurance Company, Freedom Specialty Insurance Company, FutureHealth Corporation, FutureHealth Holding Company, FutureHealth Technologies Corporation, Gardiner Point Hospitality, LLC, Harleysville Group Inc., Harleysville Insurance, Harleysville Life Insurance Company, Harleysville Mutual Insurance Co., Harold Parsons Insurance Agency, Insurance Intermediaries, Inc, Intervent USA, Inc., Jefferson National Financial Corp., Jefferson National Life Insurance Company, Kenneth Rhodes Agency, Life REO Holdings, LLC, Lone Star General Agency, Inc, Mullin TBG Insurance Agency Services, LLC, NF Reinsurance Ltd., NFS Distributors, Inc., NWD Asset Management Holdings, Inc., NWD Investment Management, Inc., NWD Management & Research Trust, National Casualty Company, National Casualty Company of America, Ltd., National Deferred Compensation, National Deferred Compensation, Inc., Nationwide Advantage Mortgage, Nationwide Advantage Mortgage Company, Nationwide Affinity Insurance Company of America, Nationwide Affordable Housing, LLC, Nationwide Agribusiness, Nationwide Agribusiness Insurance Company, Nationwide Alternative Investments, LLC, Nationwide Asset Management Holdings, Nationwide Asset Management LLC, Nationwide Assurance Company, Nationwide Auto Insurance, Nationwide Better Health, Inc., Nationwide Cash Management Company, Nationwide Community Development Corporation, LLC, Nationwide Corporation, Nationwide Document Solutions, Inc., Nationwide Emerging Managers, LLC, Nationwide Exclusive Agent Risk Purchasing Group, LLC, Nationwide Financial Assignment Company, Nationwide Financial Institution Distributors Agency, Inc., Nationwide Financial Services Capital Trust, Nationwide Financial Services, Inc., Nationwide Financial Structured Products, LLC, Nationwide Fund Advisors, Nationwide Fund Distributors LLC, Nationwide Fund Management LLC, Nationwide General Insurance Company, Nationwide Global Funds, Nationwide Global Holdings, Inc., Nationwide Global Ventures, Inc., Nationwide Indemnity Company, Nationwide Insurance, Nationwide Insurance Company of America, Nationwide Insurance Company of Florida, Nationwide International Underwriters, Nationwide Investment Advisors, LLC, Nationwide Investment Services Corporation, Nationwide Life Insurance Company, Nationwide Life Insurance Company of America, Nationwide Life Insurance Company of Delaware, Nationwide Life Tax Credit Partners 2007-A, LLC, Nationwide Life and Annuity Company of America, Nationwide Life and Annuity Insurance Company, Nationwide Lloyds, Nationwide Management Systems, Inc., Nationwide Mutual Capital I, LLC, Nationwide Mutual Capital, LLC, Nationwide Mutual Fire Insurance Company, Nationwide Mutual Funds, Nationwide Mutual Insurance Company, Nationwide Private Equity Fund, LLC, Nationwide Property and Casualty Insurance Company, Nationwide Provident Holding Company, Nationwide Realty Investors, Ltd., Nationwide Realty Management, LLC, Nationwide Retirement Solutions, Nationwide Retirement Solutions Insurance Agency, Inc., Nationwide Retirement Solutions, Inc., Nationwide Retirement Solutions, Inc. of Arizona, Nationwide Retirement Solutions, Inc. of Ohio, Nationwide Retirement Solutions, Inc. of Texas, Nationwide SA Capital Trust, Nationwide Sales Solutions, Inc., Nationwide Securities, LLC, Nationwide Separate Accounts, LLC, Nationwide Services for You, LLC, Nationwide Speciality Health, Nationwide Variable Insurance Trust, Newhouse Capital Partners, LLC, Newhouse MD LLC, Newhouse Special Situations Fund I, LLC, Olentangy Reinsurance Company, PEBSCO, Pension Associates, Inc., Premier Agency, Inc., Provestco, Inc., RCMD Financial Services, Inc., Registered Investment Advisors Services, Inc., Retention Alternatives Ltd., Riverview Alternative Investment Advisors, LLC, Riverview International Group, Inc., Scottsdale Indemnity Company, Scottsdale Insurance Company, Scottsdale Surplus Lines Insurance Company, TBG Aviation, LLC, TBG Danco Insurance Services Corporation, TBG Financial & Insurance Services Corp., TBG Insurance Services Corporation, THI Holdings (Delaware), Inc., The Cornerstone Agcy LLC, The Healthcare Fund LDC, Titan Auto Insurance, Titan Auto Insurance of New Mexico, Inc., Titan Indemnity Company, Titan Insurance Company, Titan Insurance Services, Inc., V.P.I. Services, Inc., VPI, VPI Pet Insurance, Veterinary Pet Insurance, Veterinary Pet Insurance Company, Victoria Automobile Insurance Co., Victoria Financial Group, Victoria Fire & Casualty, Victoria Fire and Casualty, Victoria Insurance Company, Victoria National Insurance Company, Victoria Select Insurance, Victoria Specialty Insurance Company, WI of Florida, Inc., Washington Square Administrative Services, Inc., Western Heritage Insurance Company, Whitehall Holdings, Inc. and William A. Papas Insurance Agency
Nationwide Commercial Insurance Bottom Line
With its superb financial ratings and a reputation for excellent customer support, Nationwide delivers a full complement of basic and specialized policy options, making it a top all-around option for businesses in various industries.
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Quotes from leading small business insurance carriers including: ACE, AmTrust, Chubb, Cincinnati, CNA, Colony, Employers, Evanston, Fireman's, Foremost, Guard, Hanover, Hiscox, Liberty Mutual, LLoyd's of London, Markel, MSA, Nationwide, Penn America, Philadelphia, Prime, Progressive, Scottsdale, The Hartford, Travelers, USLI, Utica First, Western World, Zurich & others.