Auto insurance

Affluent auto insurance needs may extend beyond what mass market insurance policies cover. It may take an accident to realize you do not have adequate coverage. When accidents occur, Nationwide Private Client is dedicated to helping you get back on the road quickly.

Did you know?

• In 2019, there were more than 6.7 million police-reported accidents in the United States¹
• Between 2017 and 2019, the number of traffic accidents increased by nearly 5%²
• During a typical daylight moment in 2020, an estimated 354,415 passenger vehicle drivers were holding cell phones to their ears while driving³
• In 2019, about 1 in 8 motorists were uninsured⁴
• The average car is in the repair shop for 2 weeks after an accident⁵

Auto insurance for the affluent market is all about coverage — and lots of it. When you are driving down the road, ask yourself whether you have enough coverage to repair or replace your neighbor’s Porsche or pay their medical bills and loss of wages if you are found legally liable for a loss.

How Nationwide Private Client responds

You need superior coverage for all of your investments and assets, including the automobiles you drive. Here are some of the key coverages our auto policy offers:

• Affluent individuals often require higher liability limits and deductibles than what some mass market carriers might offer. Nationwide Private Client provides deductible options up to $10,000. We understand that you might not want to report every claim and may want to self-insure minor incidents. We also offer liability and uninsured and underinsured liability limits up to $1 million. With many drivers being uninsured or underinsured, it is important for you to purchase limits that meet your financial needs. You can increase your auto liability coverage beyond $1 million with our excess liability policy, which has options up to $25 million.
• Roadside assistance is provided in our base auto policy in all states except California and Indiana.⁶ No deductible applies. This is a household coverage, so if your child is in a private passenger auto carpooling to a soccer game in a neighboring state and the car they are traveling in becomes disabled, they aren’t left stranded. Nationwide Private Client’s roadside assistance coverage includes towing within 100 miles from where the car is disabled, delivery of supplies, battery services, assistance with flat tires, lockout service up to $100 and trip interruption expense coverage up to $500 for 72 hours if the vehicle becomes disabled more than 100 miles away from home.⁷
• Even if you have rental reimbursement coverage, it might not be adequate to provide a vehicle comparable to your own. Nationwide Private Client’s auto rental expense coverage has no per-day limit. We provide rental coverage options up to $7,500 in the event your car is stolen or involved in a covered loss. If your luxury vehicle is damaged and needs to be in the repair shop for 4 days, with Nationwide Private Client, you are able to get a comparable vehicle as your rental car.
• When calculating repair costs, many insurers base estimates on aftermarket parts. These parts are usually less expensive and are not produced by the original manufacturer. Nationwide Private Client will pay to repair or replace your auto or its damaged parts, except glass, with original equipment manufacturers (OEM) parts when available.⁸ You invested in a BMW because of its quality and performance, so when your car is repaired after a fender-bender, you want to know that you will be getting OEM parts from the BMW manufacturer.
• If your vehicle is stolen or totaled, many insurance policies will pay you current market value, which can be much less than what you paid for or what you still owe on the vehicle. Nationwide Private Client offers the agreed value option, where we agree on what the vehicle is worth at the time the policy becomes effective. If it is stolen or totaled, there is no question on what the settlement amount will be. Agreed value policies are designed for owners of vehicles that are worth more than the typical value for vehicles of their age and model. For instance, if your 2021 Jaguar is stolen and never recovered, Nationwide Private Client will pay you the agreed value instead of the market value, which takes into account depreciation. In California, we offer a total loss settlement clause in lieu of agreed value.
• We also provide auto loan/lease gap for a total loss, to cover the difference between your auto's actual cash value or agreed value and your financed amount.

Why it’s important for you

Affluent clients’ auto insurance needs are typically not met by most mass-market carriers. At Nationwide Private Client, we provide coverage crafted with financially successful individuals and families in mind, to protect the lifestyle you're living today and the one you're building for tomorrow.

Nationwide Private Client offers these added benefits:

• Specialized claims service: Our team of problem-solvers is available 24 hours a day, 365 days a year.
• Charitable giving: At Nationwide, we strongly believe in being good corporate citizens where we work and live. Since 2000, the Nationwide Foundation has committed more than $588 million to charitable organizations across the U.S.