Auto insurance

Nov 29, 2016

Hit the road with insurance designed with you in mind

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

  • There were over six million police-reported accidents in the United States in 20151.
  • In 2013, a motor vehicle injury requiring medical attention happened every seven seconds and a death every 15 minutes.2
  • The estimated number of people injured on the nation’s roads increased in 2015, rising from 2.34 to 2.44 million people.1
  • On any given day across America, approximately 660,000 drivers are using cell phones or manipulating electronic devices while driving, a number that has held steady since 2010.3
  • Vehicle miles traveled increased by 3.5 percent from 2014 to 2015, the largest increase since 1992.1
  • Nearly 13% of motorists, or about one in eight, were uninsured in 2014.4
  • 43 states carry minimum liability limits of 25/50 or less.
  • The average car is in the repair shop for nearly two weeks after an accident.5

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

How Nationwide Private Client responds

You need superior coverage for all 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/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 that has options up to $25 million.
  • Roadside assistance is included in our base auto policy in all states except California. 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 car becomes disabled more than 100 miles away from home.6
  • Even if you have rental reimbursement coverage, it may not be adequate to provide a vehicle comparable to your car. 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. Your luxury vehicle is damaged and needs to be in the repair shop for four 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 cheaper and are not produced by the original automaker. Nationwide Private Client will pay to repair or replace your auto or its damaged parts with original equipment manufacturers (OEM) parts. You invested in a BMW because of its quality and performance, so when your car is repaired after the fender bender you got in after work the other day, 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. Your 1992 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. You may also want to check out our optional coverages like auto loan/lease gap and new car replacement coverages.

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’ve customized our policies with the affluent individual in mind. We pride ourselves in being a key solution for coverage needs.

Nationwide Private Client offers these added benefits:

  • Claims: Exceptional claims handling provided by Nationwide Private Client.
  • Financial strength: Nationwide, a Fortune 1007 company, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A1 by Moody’s and A+ by both A.M. Best and Standard & Poor’s.8
  • 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 $355 million to charitable organizations across the U.S. Nationwide Private Client continues to demonstrate this core value through its Partners in Giving program, helping numerous lives each year.

Why Nationwide Private Client 

Nationwide Private Client is dedicated to helping protect the assets and reputations of our clients. Our highly personalized insurance products, services and concierge-style claim management are thoughtfully designed to meet the distinctive needs of affluent individuals and families. We are committed to providing you a superior experience whenever you need assistance.

 

Download: Auto insurance

 

1National Highway Safety Administration
2National Safety Council®, Injury Facts 2015 Edition
3distraction.gov
4Insurance Research Council
5iii.org
6Coverage varies in Virginia. See policy for details.
7Based on revenue, Fortune (June 2015).
8Ratings affirmed 7/21/16 by Moody’s, 7/7/2016 by A.M. Best, and 4/22/2016 by Standard & Poor’s.

 

Products underwritten by Nationwide Mutual Insurance Company and Affiliates including Crestbrook Insurance Company. Home Office: One Nationwide Plaza, Columbus, OH.

© 2018 Nationwide Mutual Insurance Company and Affiliated Companies. All rights reserved. Home Office: One Nationwide Plaza, Columbus, OH 43215-2220.