Nationwide Small Business Insurance Review

Pros

• Free quotes
• Available in most states
• Standard policies + specialized insurance available
• Live, top-rated customer support

Cons

• Pricing quote requires sharing business details
• Not available in a handful of states

What Is Nationwide Small Business Insurance?

Nationwide small business insurance includes a range of commercial insurance policies available across most U.S. states. Known for its strong reputation, Nationwide also holds an A+ (Superior) financial strength rating from AM Best.

Unlike some competitors, Nationwide operates as a mutual insurance company, meaning it is owned by its policyholders rather than shareholders. In some cases, mutual insurers may return profits to policyholders in the form of dividends or reduced premiums.

Nationwide offers many of the core insurance products small businesses need, often bundled into a business owner’s policy (BOP), which typically includes general liability and commercial property coverage.

In addition to standard policies, Nationwide provides specialized coverage options such as crime insurance, cyber liability, errors and omissions (E&O), and umbrella insurance.

With a broad selection of policies and strong financial backing, Nationwide is a solid option for small businesses seeking comprehensive coverage.

Nationwide Business Insurance Pricing

Like many small business insurance providers, Nationwide uses personalized quotes and does not publish standard pricing, which is reflected in our ratings.

Your premium will depend on several factors, including your industry, location, number of employees, and coverage needs.

While Nationwide’s pricing is generally considered competitive among large insurers, costs can vary significantly depending on the scope of coverage. Smaller businesses with more limited insurance needs may want to compare quotes from multiple providers to ensure they’re getting the best value.

For context, Embroker estimates that many small businesses pay between $500 and $2,000 per year for a business owner’s policy (BOP), which bundles general liability and commercial property coverage. Actual costs will vary, but this range can serve as a general benchmark when evaluating quotes.

How To Get A Nationwide Business Insurance Quote

You can request a custom quote for business insurance online or by phone. If you begin the process online, you may need to speak with a representative to complete your quote.

During the quoting process, Nationwide may collect and evaluate a range of information, including business details, driving records, prior claims history, publicly available property data, and credit-based insurance scores. In some cases, this may involve a soft credit check through a third party.

To generate a quote, you’ll typically need to provide basic information about your business, such as your business name, address, revenue, payroll, and details about your physical location. This may include information about building conditions, safety features, and security systems.

Because of the level of detail required, the quote process can take some time to complete. However, you may be able to start an application, save your progress, and return later to finish.

Nationwide Commercial Insurance Features

Nationwide offers a range of tools and resources designed to help small businesses manage their insurance coverage and reduce risk. In addition to standard policy features, the company provides several digital tools and support services.

• Easy Access: Nationwide customers can manage their policies through a secure online portal. From there, users can file or track claims, view policy details, and make payments.
• Online Claims: Policyholders can initiate claims online. Nationwide encourages customers to report claims as soon as possible, even if all details are not yet available.
• Small Business Education Tools: Nationwide provides a library of educational resources covering topics such as taxes, cybersecurity, hiring, payroll, and workplace safety.
• Loss Control Planning: Nationwide offers risk management tools and access to a loss control services team. These resources are designed to help businesses evaluate their operations and reduce the likelihood of future claims.
• Business Banking Services: Nationwide partners with Axos Bank to offer customers access to business banking products. Through this partnership, users may be eligible for special offers on business banking services.

Nationwide Small Business Insurance Coverage Options

Nationwide offers a wide range of small business insurance policies, including core coverages and more specialized options tailored to different industries.

Business Owner’s Policy

Nationwide’s business owner’s policy (BOP) bundles general liability and commercial property insurance, along with additional coverages such as business income protection. Depending on the policy, equipment breakdown coverage may also be included or available as an add-on.

As with most BOPs, bundling coverage can offer cost savings compared to purchasing policies separately, though actual discounts will vary.

Core Business Insurance Policies

Nationwide offers many of the standard policies small businesses need, including:

• General liability insurance
• Commercial property insurance
• Commercial auto insurance
• Workers’ compensation insurance

Additional Coverage Options

Beyond core policies, Nationwide provides a broad selection of additional coverages, such as:

• Business income insurance
• Crime insurance
• Employment practices liability insurance (EPLI)
• Cyber liability insurance
• Errors and omissions (E&O) insurance
• Equipment breakdown coverage
• Umbrella insurance
• Inland marine insurance
• Builder’s risk insurance
• Fiduciary liability insurance

Industry-Specific Coverage

Nationwide also offers tailored insurance solutions for a variety of industries, including:

• Retail and service businesses
• Professional offices
• Contractors and construction businesses
• Auto service and repair shops
• Wholesalers and distributors
• Restaurants and food service businesses
• Personal care businesses (e.g., salons and barbershops)
• Farms and ranches
• Healthcare and human services providers

Additional Products

In addition to standard business insurance, Nationwide offers access to related products and services, which may include:

• Fidelity and surety bonds
• Group insurance plans
• Stop-loss insurance
• Key person benefits
• Retirement and employee benefit plans

Best Suited For…

Nationwide offers a broad range of coverage options and is well-suited for small to mid-sized businesses with a variety of insurance needs. Its wide selection of policies and industry-specific solutions may be especially appealing to businesses with more complex risks or those looking to bundle multiple types of coverage.

Smaller businesses with more basic insurance needs may want to compare quotes from multiple providers to ensure they’re getting the most cost-effective option.

Nationwide Claims

Nationwide offers multiple ways for policyholders to file and manage insurance claims, with support available throughout the process.

How To File A Claim With Nationwide Small Business Insurance

Customers can initiate a claim online, through the account portal, by contacting an agent, or calling Nationwide directly.

To file a claim, you’ll typically need to provide:

• Contact information for all parties involved
• Policy details
• The date of the incident
• A description of the damage or injury

Nationwide encourages policyholders to report claims as soon as possible, even if all details are not yet available. Additional guidance is available through Nationwide’s online claims resources and FAQs.

Nationwide maintains a large claims support network, with representatives available 24/7 to assist policyholders. Claims teams are organized by coverage type and, in some cases, by industry, helping ensure that claims are handled by specialists familiar with specific risks.

Once a claim is filed, policyholders may be assigned a dedicated claims representative who serves as a primary point of contact throughout the process. This representative may also coordinate with Nationwide’s loss control services to help reduce future risks.

Nationwide Customer Service & Support

Nationwide offers a variety of customer support options, including phone support and agent-assisted service. Customers typically work directly with an agent and may be able to contact that representative for policy-specific questions.

Self-service tools are also available for managing accounts, filing claims, and tracking claim status online.

General customer support is available through Nationwide’s main contact channels, though experiences may vary. Some users report that reaching the appropriate department can require multiple transfers.

Nationwide also offers a mobile app that allows users to manage policies, make payments, and monitor claims.

Nationwide Small Business Insurance Reviews

Nationwide is accredited by the Better Business Bureau, where it also maintains an A+ rating. The company has had around 150 BBB complaints filed in the past three years and has a 100% response rate. That’s important, as the BBB considers how frequently and effectively complaints are resolved.

Keep in mind that Nationwide offers personal insurance for home and auto in addition to its business policies. That makes it hard to single out specific reviews of Nationwide’s business insurance.

Furthermore, complaints found online often come from people who were involved in an accident with a Nationwide policyholder but are not themselves Nationwide customers.

Negative Nationwide Reviews & Complaints

Some common complaints from Nationwide customers surround:

• Lengthy claims process
• Difficulty canceling policies or sudden cancellation of coverage
• Sudden price increases

Positive Nationwide Reviews & Testimonials

On the review site WalletHub, Nationwide Insurance has over 3,000 reviews and a rating of 3.2/5 stars. Here are a few things Nationwide customers say they like about their insurance:

• Affordable rates compared to other carriers
• Expert, helpful customer service
• Professional, supportive claims process
• Strong online tools

Final Verdict Of Nationwide Business Insurance

Nationwide is one of the largest and most established insurers in the United States, with a broad range of commercial insurance products and strong financial backing. While size alone doesn’t guarantee the best fit, Nationwide’s extensive coverage options and industry-specific solutions make it a solid choice for many small businesses.

The company offers a wide selection of policies, from core coverages like general liability and commercial property to more specialized options, making it a good fit for businesses with more complex insurance needs or those looking to bundle multiple policies.

However, the quoting process and customer support experience may require some patience, and smaller businesses may want to compare multiple providers to ensure they’re getting the best value. Start with our list of the best insurance for small businesses.

Overall, Nationwide is a reliable option worth considering, particularly for businesses that prefer working with an agent or need more comprehensive coverage