Name: Nationwide Home Insurance Review
Item: Nationwide
Rating: 5
Author: Policygenius

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

State	Availability	State	Availability
Alabama	√	Nebraska	√
Alaska	√	Nevada	√
Arizona	√	New Hampshire	√
Arkansas	√	New Jersey	√
California	√	New Mexico	√
Colorado	√	New York	√
Connecticut	√	North Carolina	√
Delaware	√	North Dakota	√
Florida	√	Ohio	√
Georgia	√	Oklahoma	√
Hawaii	√	Oregon	√
Idaho	√	Pennsylvania	√
Illinois	√	Rhode Island	√
Indiana	√	South Carolina	√
Iowa	√	South Dakota	√
Kansas	√	Tennessee	√
Kentucky	√	Texas	√
Louisiana	√	Utah	√
Maine	√	Vermont	√
Maryland	√	Virginia	√
Massachusetts	√	Washington	√
Michigan	√	Washington D.C.	√
Minnesota	√	West Virginia	√
Mississippi	√	Wisconsin	√
Missouri	√	Wyoming	√
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.

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

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 coverages	Policy 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

Security you can trust

Yes, we have to include some legalese down here. Read it larger on our legal page. Policygenius Inc. (“Policygenius”) is a licensed independent insurance broker. Policygenius does not underwrite any insurance policy described on this website. The information provided on this site has been developed by Policygenius for general informational and educational purposes. We do our best efforts to ensure that this information is up-to-date and accurate. Any insurance policy premium quotes or ranges displayed are non-binding. The final insurance policy premium for any policy is determined by the underwriting insurance company following application. Savings are estimated by comparing the highest and lowest price for a shopper in a given health class. For example: for a 30-year old non-smoker male in South Carolina with excellent health and a preferred plus health class, comparing quotes for a $500,000, 20-year term life policy, the price difference between the lowest and highest quotes is 60%. For that same shopper in New York, the price difference is 40%. Rates are subject to change and are valid as of 2/17/17.