Nationwide Home Insurance Review

In terms of coverage, Nationwide is one of the best carriers on the market, offering flexible and affordable policies for every home-type and income level.

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Overview

Nationwide is one of the best in the home insurance industry, offering everything that you’ve come to expect in a standard policy, plus a seemingly endless array of additional coverages. One such optional coverage, equipment breakdown coverage, can be added to your policy for a small additional premium.

Nationwide also boasts exceptional ratings from renowned credit rating agency A.M. Best, and gets high marks from consumer insights leaders J.D. Power, the Better Business Bureau, and Consumer Reports. So you can be sure that, when it comes time to file a claim, Nationwide reps will be responsive and you’ll get a timely payout.

When it comes to rates, Nationwide’s are among the most competitive in the business. The coverage is already pretty cheap, but when you consider the company’s multiple discount opportunities – like their bundling discount or claims-free discount – you can save some serious cash with Nationwide.

One caveat with Nationwide is when we attempted to add water-backup coverage (a crucial additional coverage) to our policy, we were charged an additional $100 a year, which is far more than the $15 to $20 charged by most insurance companies.

Pros

  • Flexible policies for every home type and income situation
  • Wide range of additional coverage options
  • Online application and claims process
  • Multiple discount opportunities
  • Strong financial ratings

Cons

  • Adding water backup coverage was surprisingly expensive

Nationwide by the numbers

Founded: 1926

Market share: 3.01%

A.M. Best rating: A+

Better Business Bureau rating: A+

Consumer Reports: 86

J.D. Power: 3 out of 5 (About average)

What states is Nationwide available in?

Nationwide homeowners insurance is available in all 50 states and the District of Columbia.

Nationwide home insurance state availability

StateAvailabilityStateAvailability
AlabamaNebraska
AlaskaNevada
ArizonaNew Hampshire
ArkansasNew Jersey
CaliforniaNew Mexico
ColoradoNew York
ConnecticutNorth Carolina
DelawareNorth Dakota
FloridaOhio
GeorgiaOklahoma
HawaiiOregon
IdahoPennsylvania
IllinoisRhode Island
IndianaSouth Carolina
IowaSouth Dakota
KansasTennessee
KentuckyTexas
LouisianaUtah
MaineVermont
MarylandVirginia
MassachusettsWashington
MichiganWashington D.C.
MinnesotaWest Virginia
MississippiWisconsin
MissouriWyoming
Montana

Policy details

Nationwide’s base policy has everything you want: replacement cost coverage for your home and personal belongings, flexible coverage limits for other parts of your policy, and several coverage endorsements.

One such endorsement, Protection Boost, drastically increases sublimits for expensive personal belongings. Protection Boost is an affordable and worthwhile coverage endorsement for your most cherished items.

Nationwide coverage

Standard policy

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  • Replacement cost dwelling coverage (option for extended replacement cost)
  • Replacement cost personal property coverage
  • Loss-of-use coverage that matches your dwelling limit
  • Loss-assessment coverage
  • Ordinance or law coverage
  • Inflation protection coverage
  • A number of reasonably priced additional coverage options

Protection Boost endorsement

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  • 30% coverage for personal property at other residences
  • $1,000 coverage for lost or stolen money
  • $5,000 coverage for lost or stolen securities
  • $5,000 in watercraft coverage
  • $5,000 in trailers coverage
  • $10,000 coverage for lost or stolen jewelry or watches
  • $50,000 coverage for theft of jewelry inside a vault
  • $10,000 coverage for lost or stolen firearms
  • $15,000 coverage for lost or stolen silverware
  • $5,000 coverage for lost or stolen cameras
  • $10,000 credit card coverage
  • $10,000 debris removal

How much does Nationwide cost?

The amount you pay for a Nationwide policy will depend on your ZIP code, the age and build of your home, your insurance score, and a number of other rating factors. Here’s a quote for a 60-year-old, 1,500-square-foot, single-family home with replacement cost coverage for the home and personal belongings, a $1,500 wind and hail deductible, and a $1,000 deductible for all other perils.

Primary coveragesPolicy limits
Dwelling$204,000
Other structures$20,400
Personal property$153,000
Personal liability$500,000
Medical payments for guests$1,000
Loss-of-use$204,000
Premiums$762.58

Additional coverages

  • Water backup or sump pump overflow - Protects your stuff in the event your sewage goes in the reverse direction of where its supposed to go
  • Inflation protection - Automatically increases your dwelling, other structures, and personal property limits to keep pace with inflation
  • Replacement cost plus - Pays up to 20% more than your dwelling coverage limit if construction prices exceed your dwelling limit after a covered loss
  • Ordinance or law coverage - Helps pay for the increased construction costs if you need to rebuild your home to current building codes or if you need to rebuild on a different plot of land
  • Credit card coverage - Reimburses you up to your covered limit if someone uses your debit or credit card on unauthorized trips to the ATM or unauthorized purchases
  • Mine subsidence - Covers damage due to collapse or movement of a man-made mine, such as coal mines
  • Identity theft coverage - If someone steals your identity, this coverage reimburses you for the costs of restoring it
  • Better roof replacement coverage - If your roof needs to be replaced after a covered loss, this coverage pays the added expenses of replacing it with a higher quality roof
  • Equipment breakdown coverage - Covers expensive appliances like your water heater or air conditioner if they need to be repaired or replaced because of a mechanical or electronic breakdown
  • Protection boost - Optional endorsement that gives you high sublimits and expanded protection for jewelry, silverware, cameras, money, firearms, and increased off-premises theft coverage
  • Earthquake coverage - Coverage for your home against earthquake damage — a separate deductible applies
  • Flood insurance - Covers your home and personal belongings against flood waters — this is a separate policy with a separate deductible

Here’s how Nationwide stacks up against the competition in terms of the most common coverage endorsement offerings:

Home insurance coverage endorsements by insurance company

Discounts

  • Multi-policy discount - Get a discount when you bundle your home or renters insurance policies with a Nationwide auto insurance policy
  • Protective device discount - Save on your policy when you fit your home with smoke, fire, burglar alarms, or qualifying smart home devices
  • Claims-free discount - You’re eligible for a claim-free discount if you go claim free for a certain number of years; check with your agent for more details
  • Home renovation discount - Reduce your premiums by updating or installing new plumbing, wiring, and heating or cooling systems
  • Roof rating discount - Get a discount if you recently had a new roof installed or if the roof type is hail- and windstorm-resistant
  • Home purchase discount - Discount if you’re insuring a home that you bought in the last 12 months
  • Prior insurance discount - Save on premiums if you were insured by your previous carrier for a number of consecutive years
  • Gated community discount - Reduce your rates when all vehicular entrances to your community are protected by security guards, card-access systems, or a locked gate

Company details

Application process

Nationwide’s application process is pretty seamless. You simply go to their website, plug in both personal information and information about your home, select potential discount opportunities, and out comes a quote.

From the quote page, you can adjust your coverage limits and add various endorsements to your policy, where you can see in real time how adding or subtracting coverage can increase or decrease your rates.

After finalizing coverages, you select a local agent to answer your insurance questions and assist you with claims. From there, you move on to the payment portal and choose whether you’d like to pay yourself or through your mortgage company. The entire process takes around 10 minutes.

Claims process — 3 out of 5 claims satisfaction rating with J.D. Power

When it comes to claim responsiveness and payouts, Nationwide is better than the industry average, according to a 2019 survey by consumer insights leader J.D. Power. Nationwide’s damage amounts and timely payment ratings also received “very good” marks from Consumer Reports.

The claims process is fairly easy. You access Nationwide’s claims portal from their homepage, and once you get there, they have a number of instructional resources for what to do in the wake of a loss. Once you’re ready to go, you begin the claims process, where you can either file a claim as a Nationwide policyholder or on behalf of a policyholder.

Other types of property insurance offered

Nationwide offers more than just homeowners insurance. If you’re looking to buy home insurance with Nationwide and have other property insurance needs, consider bundling multiple policies together.

  • Nationwide Private Client - Nationwide Private Client is a separate set of robust property insurance products for Nationwide’s affluent customers, and includes homeowners insurance, personal collections insurance, auto insurance, personal excess liability insurance, and ID theft assistance
  • Car insurance - Protects your whip
  • Motorcycle insurance - Covers your motorized bike
  • Snowmobile insurance - Protection for your snow cruiser
  • Renters insurance - Protection for stuff in your rental unit (and outside your rental unit)
  • Condo insurance - Protects your condo's structure, all your stuff inside, and any additional liability coverage you need to supplement your HOA's master policy
  • Flood insurance - Protects your stuff against flowing water
  • Boat insurance - Covers everything from your dinghy to your yacht
  • Personal watercraft insurance - For smaller watercrafts like Jet Skis
  • Umbrella insurance - Increased liability coverage limits for your home and car
  • Scooter insurance - Yes, scooter insurance exists
  • RV insurance - Protection for your house on wheels
  • ATV insurance - Coverage for your quad

Digital tools

  • Web application
  • Web policy management and bill pay
  • Web claim filing
  • Nationwide mobile app where you can manage your policy or begin a claim

Contact info

Website: www.nationwide.com
Phone: 1-800-882-2822
Headquarters: 1 Nationwide Plaza, Columbus, OH 43215