Hi All,
Nationwide "seems" (I could be wrong) to now be required by Nevada Statute to let us know what things they'd raise our car insurance rates for:
Minor Violation (ticket): 25% Major Violation (ticket): 160% <--- Yikes !!! Accident: 85%
Seems more like a "fuse" (use once) and not "insurance". Are these above increases reasonable or should I look for another carrier?
Many thanks,
-T
Consumer Reports has car insurance ratings based on owners'. surveys. USAA. 92 NJM. 86 Amica. 83 Erie Insurance. 81 Pemco. 80 Acuity. 78 Nationwide is down at 46. This is what they say about their ratings. "CR rates insurers based on member feedback on the cost of their premiums, the ease of processing claims, the quality of non-claim-related customer service, thoroughness of policy review, clarity of policy coverage, and proactive help and advice. To create our ratings, we surveyed 40,251 CR members in the summer of 2022 about their car insurance. They provided us with 47,713 reports on their experiences with the car insurance companies they did business with, and told us whether they had switched insurers or filed a claim between 2018 and 2022. (CR members’ experiences are not necessarily representative of the U.S. population.)" They suggest dropping comprehensive and collision if annual premiums exceed 10% of the vehicle's value. Upping the deductibles for those can save a good amount. Don't overdo it on medical coverage if you have good medical insurance. Lookout on that if your regular passengers might be underinsured for medical. It might be worthwhile to look at an umbrella policy for home and vehicles.
The increases are very possibly reasonable given all the insured vehicles destroyed by recent flooding on the west coast, in the south, and along the Mississippi river. You'd have to try to determine what percentage of all recently "totaled" vehicles were insured by Nationwide. However, that doesn't mean that Nationwide's insurance premiums are competitive. You should get quotes from other companies for equivalent coverage and change carriers if you would be paying significantly more with Nationwide than with the competition.
Thank you!
Thank you!
I had Nationwide several years' back. They kept jacking up the rates, even without any tickets.
I finally dropped them and moved to another company. The rate was just about half what NW had been charging me.
Who did you finally go with?
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