Nationwide renters and home insurance

Nationwide Home and Renters Insurance: An In-Depth Review

When shopping for the right homeowners or renters insurance policy, price isn’t everything. It’s also important to look at the insurance company’s overall customer satisfaction and other features.

In this review, you’ll learn about Nationwide’s policies and whether or not they’re the best option for you.

About Nationwide

Nationwide traces is roots back to 1925 and Farm Bureau Mutual Auto Insurance Company. Starting out small on the East Coast, the insurer expanded quickly over the next few decades, changing its name to Nationwide Insurance in 1955 as it expanded west.

Now, Nationwide is a group of insurance and financial services companies. It offers insurance, investing, and banking services, allowing you to have all your financial needs in one place.

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Nationwide homeowners and renters insurance

Unlike other popular insurance companies, like GEICO and Progressive, Nationwide underwrites its own homeowners and renters insurance policies.

The insurer offers a few extra features that you can opt into with its insurance policies:

Brand New Belongings

When your belongings get damaged, many insurance companies typically give you the cost to replace them in their current state. But with the Brand New Belongings feature, Nationwide will give you enough money to replace your things with the new version.

Better Roof Replacement

If you have a homeowners policy and you need to replace your roof due to a coverage damage, Nationwide will reimburse you the cost of paying for a roof with stronger materials than your original roof was made of.

Plenti

You can earn rewards points when you make your insurance payments. You can then use those rewards at several different Plenti partners, including retailers, restaurants, and websites.

How much does Nationwide charge for homeowners and renters insurance?

Unfortunately, there’s no way to know for sure what you’re going to pay unless you request a quote. That’s because there are a lot of factors that go into determining your premiums.

According to Nationwide, here’s what they look at:

Homeowners insurance

  • Credit history
  • Credit-based insurance score
  • Previous gaps in coverage
  • Your claims history
  • Age of the home
  • Type of structure
  • Security and safety features
  • Location of your home
  • How much coverage you need
  • Deductible amount

Renters insurance

  • Location of your home or apartment
  • How much coverage you need
  • Type of coverage
  • Deductible amount

Additionally, Nationwide offers the following discounts to help lower the cost of your insurance:

  • Multi-policy discount: If you already have a homeowners or auto insurance policy with Nationwide, bundling those with your new policy can save you up to 20%.
  • Protective device discount: You’ll earn this if your home or apartment has smoke detectors, burglar alarms, or other qualifying safety and security devices.
  • Claims-free discount: If you don’t make any claims for a period, you’ll get this discount. However, the insurer doesn’t specify how long you have to remain claims-free.
  • Age of insured discount: On homeowners policies only, you may get this discount if you’re 60 or older.

Customer satisfaction

As mentioned before, the price isn’t everything. J.D. Power provides customer satisfaction ratings for all the major insurance companies. In its 2017 studies for homeowners and renters insurance, Nationwide is in the middle of the pack.

The insurer is rated average or below-average in the following areas:

  • Overall satisfaction
  • Policy offering
  • Price
  • Billing
  • Interaction
  • Claims

“We’ve had several policies with Nationwide over the years,” says Amy Baxter, a pediatrician and Nationwide customer. “I wouldn’t say we’ve had terrible service, but we haven’t ever had anyone go above and beyond, necessarily.”

If customer satisfaction is your top priority, you might be better off checking out other top insurance companies.

How to apply for Nationwide homeowners insurance

If you want homeowners insurance through Nationwide, check out SuperMoney’s review page of the insurer and apply.

Here’s the step-by-step process of how to do so:

  1. Nationwide has some limitations on the type of homes it can insure. Rather than string you along, it asks you upfront whether any of the exclusions apply. If so, you’ll need to look elsewhere. But if not, you can get that out of the way from the start.

    Nationwide renters and home insurance

  2. Enter some basic information about yourself, including your name, address, date of birth, and marital status.

    Nationwide renters and home insurance

  3. Share some basic information about your home, including when you purchased or plan to purchase it and a few other questionsNationwide renters and home insurance

  4. Answer questions about the home’s interior, including any protective devices you have and when certain elements were last renovated.

    Nationwide renters and home insurance

  5. Finish up and submit your application, sharing how long you’ve had your current homeowner’s insurance policy and your contact information.

    Nationwide renters and home insurance

  6. Review your estimated quote, discounts, and coverage amounts.

    Nationwide renters and home insurance

Once you’ve reviewed your quote and coverage, you can continue to purchase the policy. At that point, you’ll be able to edit the coverage, and Nationwide will do a full review of your financial profile to give you a final quote.

How to apply for Nationwide renters insurance

If you’re looking for renters insurance, head to our review page to apply.

Here’s the step-by-step process of how to do so:

  1. Enter basic information about yourself, including name, address, date of birth, and marital status.

    Nationwide renters and home insurance

  2. Share some information about your home or apartment, including how much coverage you need, the structural material, hazards, safety and security devices, and more.

    Nationwide renters and home insurance

  3. Share your contact information and agree to Nationwide’s terms and conditions.

    Nationwide renters and home insurance

  4. Review your estimated quote, discounts, and coverages.

    Nationwide renters and home insurance

After you review your estimated quote, you can edit the coverages to see how the quote adjusts. Then, you can continue to purchase the policy. At that point, Nationwide will review your full financial profile to give you a final quote.

Should you get Nationwide homeowners or renters insurance?

There’s no one right answer to which homeowners or renters insurance company to buy from. Each company has its benefits and drawbacks, and price can change depending on where you live.

“In our old house, we lived in a different state, and Nationwide was more expensive than some of the other companies we were looking at,” says Baxter. “But for our current place, it was pretty inexpensive.”

As a result, it’s important to compare renters insurance or homeowners insurance policies from several different insurance companies before buying one. Shopping around is the single best thing you can do to get the best deal for your needs.

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