The cost of your auto insurance and the savings you qualify for depend on a number of personal factors. Numerous insurers, including Nationwide, provide telematics programs that monitor driving patterns and honor defensive driving behaviors that reduce accidents and property damage. Through the SmartRide smartphone app, Nationwide’s SmartRide program keeps track of your travels and estimates possible savings. You can decide if SmartRide is ideal for you by evaluating how it functions and the ways you can save.
Nationwide SmartRide: What is it?
The Nationwide SmartRide program lowers drivers’ auto insurance rates in exchange for their good driving practices. For Nationwide policyholders, SmartRide is an optional benefit that also offers a 10% sign-up discount. Nationwide suggests using the program’s smartphone app, but if you’d like, you might be able to request to have a plug-in device shipped to you.
However, you could not be qualified if your vehicle was made before 1996. Unlike other telematics programs, Nationwide SmartRide is completely free, and there is no chance that your premium will increase if your driving style does not qualify for a discount. At the end of the policy term, you can lose your 10% participation discount, but no surcharge will be added to your policy.
Your driving patterns will be observed for four to six months after you join up. You will hear from Nationwide on a regular basis while you are driving. These updates will give your anticipated discount as of the moment and advice on how to improve your driving practices in order to raise your discount. You will be informed that you can delete the app after the trial period has ended or return the device in the given pre-paid envelope.
What is monitored by SmartRide?
Five characteristics of your driving that are frequently linked to your total risk of having an accident are tracked by SmartRide. These consist of:
- Miles driven: Because you are on the road more frequently, your odds of being in a crash increase as you drive more miles. You can get a bigger discount if you drive fewer miles overall or across shorter distances.
- Hard braking: Since slamming on the brakes raises the risk of an accident, excessive use of this technique will reduce your SmartRide discount.
- Rapid acceleration: If you frequently accelerate quickly, this can indicate that you are driving aggressively. Any variation in speed more than 7.7 mph per second is seen by SmartRide as a bad driving practice.
- Driving at night: The risk of an accident is highest for trips that take place between 1:00 AM and 5:00 AM. You may be eligible for a bigger discount if you typically leave your car parked during these times.
- Idle time: How long your automobile idles can provide information about how congested the region is. You might be more likely to be caught in traffic or spend more time at stoplights in densely populated areas. Additionally, the probability of an accident increases generally as traffic volume increases.
You will receive weekly reports from Nationwide that will break down each of these elements. You will be able to calculate your mileage, number of braking or accelerating errors, amount of nighttime driving, and idle time. You might be able to boost your chances of receiving a higher discount by altering your driving habits with the help of these reports.
What kind of savings are possible with Nationwide SmartRide?
Depending on your driving style, you could receive a different car insurance discount for signing up for Nationwide SmartRide. Typically, signing up entitles you to a 10% discount on your auto insurance. Then, based on the information acquired over the course of the four to six month review period, being a safe driver might result in you saving up to 40% on your auto insurance. However, this discount may be subject to restrictions owing to state availability and rules, among other things. Furthermore, the discount may not apply to your entire premium. Depending on your state and coverage choices, only specific plan types qualify for the discount. Your final discount will be applied to your policy at the time of your subsequent policy renewal rather than immediately.
Unlike other rival schemes of a similar nature, Nationwide will never utilize the data acquired to increase your premiums. However, you could not get any savings if your driving style is not acceptable for a discount.
Who ought to register for SmartRide?
The majority of Nationwide policyholders are eligible to take part in SmartRide, however some participants stand a larger chance of winning. Drivers with high premiums owing to extenuating circumstances, such as age or location, may be able to use SmartRide as a chance to demonstrate to Nationwide that they drive safely. Drivers with modest annual mileage, those who avoid nighttime driving, rarely idle, and those who avoid sudden acceleration or braking may find SmartRide to be a fantastic option. The advantages and disadvantages of the program are listed in the table below.
| Pros | Cons |
|---|---|
| No participation cost | Savings is applied at next renewal, not immediately |
| Will not increase premium | Vehicles older than 1996 are not eligible |
| Monitoring only lasts up to six months | Sign up discount removed at next renewal |
| Discount lasts as long as vehicle remains insured with Nationwide | Not ideal for high mileage or regular nighttime drivers |
If they have worked to change their driving behaviors, people who have seen the cost of their auto insurance increase after an accident might benefit from SmartRide. You might want to give the program a try as it is free and won’t result in your rates going up (apart from losing your 10% sign-up discount).
A second usage-based program called SmartMiles is provided by Nationwide. The program can be a good fit for you if you drive less miles per year, work from home, or are retired. You must consent to paying your premium on a monthly basis rather than in greater amounts in order to participate. Your monthly premium will be modified to reflect the actual miles you drove after your monthly mileage is tracked.
How does Nationwide SmartRide stack up against competing initiatives?
There are more telematics programs besides Nationwide SmartRide. This is a way to save with other significant insurance providers, albeit not all of their programs are the same. Here is how Nationwide SmartRide stacks up against competing initiatives.
| Program | Discount amount | Program review period | Premium increase possibility |
|---|---|---|---|
| Nationwide SmartRide | Up to 40% | 4 to 6 months | No |
| State Farm Drive Safe and Save | Up to 30% | 6 months | No |
| Allstate DriveWise | Varies | 12 months | No |
| Geico DriveEasy | Varies | 6 months | Yes |
A lot of people have questions
Do I have my location tracked by Nationwide SmartRide?
No. SmartRide does not track your movements or location, but it does utilize GPS to monitor your braking and acceleration speed.
Is my speed being monitored by Nationwide Smartride?
No and yes. The program does keep track of speed—your average speed will be listed in your weekly report—but it does not use that information as a discount factor.
What happens if I forget to turn on location services on my phone or disconnect my device?
If you use the Nationwide SmartRide plug-in device, you are able to unplug it a few times every month without experiencing any negative effects. If, for instance, someone is going to borrow your car, you might decide to do this. The app won’t be able to track your driving if you’re using it and neglect to enable location services on your smartphone. Similar to the plug-in device, this occurs a few times every month and is typically not a problem. However, you risk losing your participation discount and not receiving a final discount if you frequently disconnect your device or forget to enable location services.
How long can I keep using the Nationwide Smartride discount?
Following the review time, the reduction you received is applied to your next auto insurance renewal. As long as that specific Nationwide auto insurance coverage is in effect, it is locked in. Nationwide does, however, caution that the discount’s accessibility is uncertain and might be impacted by modifications made to the drivers and vehicles covered by the policy, as well as by future policy revisions.
