Nationwide Homeowners Insurance Review 2022
One of the 10 largest U.S. home insurers, Nationwide stands out for including coverage in its homeowners policies that would cost you extra elsewhere. Nationwide home insurance is available in most states and offers plenty of opportunities for discounts.
Best for: Shoppers looking for a broad range of coverage options.
Nationwide home insurance pros and cons
How Nationwide home insurance rates
Homeowners insurance nationally scores 5 out of 5 stars for overall performance. Vanquangblog’s rating is determined by me. The home insurance scoring formula takes into account policy coverage options and discounts, ease of filing claims, website transparency, company financial strength, claims data from National Association of Insurance Commissions and more.
Based on these ratings, Nationwide is among Vanquangblog’s Best Home Insurance Companies for 2022.
Nationwide currently sells homeowners insurance in Washington, D.C., and every state except Alaska, Hawaii, Louisiana and Massachusetts (the company reports MA availability is coming soon).
Nationwide home insurance coverage
You can customize your homeowners policy with numerous add-ons, but below are the types of coverage that generally come standard:
A Nationwide homeowners policy includes not only the standard coverage you’d expect, but also a type of insurance that other companies often charge extra for: ordinance or law coverage. This pays to bring your house up to current building codes during rebuilding or repairs following a claim, with a limit of up to 10% of your dwelling coverage. (Higher limits are available for an additional cost.)
A Nationwide home insurance policy also covers losses up to $500 due to unauthorized credit or debit transactions, forged checks or counterfeit money. You can upgrade to $10,000 worth of coverage.
Depending on where you live, you may be able to add the following features to your policy:
Extended replacement cost, which raises your dwelling coverage up to 20% above your policy limit in case it costs more than expected to rebuild your home after a covered disaster.
Brand-new belongings, which pays enough to restore damaged belongings or replace them with brand-new items. (A default homeowners policy covers older items only for their depreciated value.)
Better roof replacement, which pays to rebuild your roof with stronger materials if it’s damaged for a covered reason.
Identity theft coverage to monitor your personal data and help with resolution if your identity is stolen.
Additional valuables coverage for jewelry, art and other high-value belongings.
Water backup coverage for damage due to an overflowing sump pump or a backed-up drain.
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Nationwide offers a variety of ways to save on your homeowners insurance, including:
- Multipolicy discount when you buy both homeowners and auto insurance from Nationwide.
- Discount if you’ve purchased your home within the past 12 months.
- Claims-free discount.
- Discount based on the age and material of your roof.
- Home renovation credit for updating plumbing, heating, cooling or electrical systems.
- Discount for smoke detectors, fire alarms, burglar alarms or other protective devices.
- Discount for new policyholders who’ve been continuously insured by another carrier.
- Gated community discount.
Nationwide received close to the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints also cover other home policy types, including mobile home, renters and condo insurance.)
Website: It’s easy to manage your homeowners policy on the Nationwide website, where you can pay bills, file and track claims, set up automatic payments and enroll in paperless billing. The site’s learning center features articles on a variety of home insurance topics.
App: On Nationwide’s mobile app, available for both iOS and Android, you can view policy documents, file a claim, pay bills and enroll in autopay.
Homeowners insurance buying guide
You can get home insurance quotes online, over the phone or through an agent. But before you start, take the following steps:
- Determine how much coverage you need. Is a standard policy sufficient, or do you want to add extra insurance for situations like identity theft or sewer backups? Check whether each company you’re considering has the options you need.
- Take inventory. To ensure you have sufficient personal property coverage, take stock of your belongings. Include all furniture, electronic devices, clothing, jewelry and household items. How much would it cost you to replace them? This total is the minimum amount of personal property insurance you should have.
- Make a fair comparison. When evaluating rates, make sure each insurer is offering the same limits and deductibles.
- Check consumer complaints. Although it may seem tempting simply to choose the cheapest option, look at how many consumer complaints each insurer has before choosing a policy. Poor customer service could have a significant impact on your experience if you ever need to file a claim.
How to file a homeowners insurance claim
File as soon as it’s safe. The sooner you report a theft or damage to your home, the sooner your insurer can assign an adjuster and start working on paying out your claim. Some companies let you file claims online or through their app, while in other cases you may have to call your agent or insurer instead. Have your policy number handy.
Document the damage. Bolster your claim by taking photos or video of all damage. If something was stolen, report it to the police before you contact your insurance company. Your insurer may ask for a copy of their report.
Prevent further damage. After you’ve taken pictures of everything broken or destroyed, take steps to prevent additional damage. For example, you can put a tarp over a leaky roof or blown-out window. Keep receipts for any supplies you buy, as your insurer may reimburse you later.
Nationwide home insurance FAQ
Does Nationwide home insurance cover mobile phones?
Yes, cell phones are covered for theft and certain types of damage up to the personal property limit on your policy. Note that a deductible applies to this coverage, so if your phone is stolen but it’s worth less than your deductible, filing a claim probably doesn’t make sense.
What other types of insurance does Nationwide offer?
Nationwide sells auto, boat, umbrella, life and other insurance policies, along with financial products such as annuities and mutual funds. Learn more about Nationwide auto insurance.
Does Nationwide home insurance cover water leaks?
Homeowners insurance is designed to cover sudden, accidental losses, not wear and tear or maintenance. So if a pipe suddenly bursts, sending water all over your basement, your homeowners policy would likely cover any resulting damage. But if a drain has been leaking slowly for weeks and you didn’t discover it until mold started growing, that damage would be considered a maintenance issue and would not be covered.
Homeowners insurance ratings methodology
Vanquangblog’s homeowners insurance ratings reward companies for customer-first features and methods. The ratings are based on weighted average scores in several categories, including financial strength, consumer complaints, averages, discounts, online experience and more. My “easy to use” category considers factors like website transparency and how easy it is to submit requests. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best one for you. vanquangblog does not accept compensation for any reviews.
Methodology: Insurer complaints
vanquangblog examined claims received by state insurance regulators and reported to the National Association of Insurance Commissioners for 2018-2020. To gauge how insurers compare to each other, the NAIC calculates a claims index each year for each subsidiary, measuring the ratio of its total claims relative to its size, or the ratio of its total premiums. industry insurance. To assess a company’s claim history, vanquangblog calculated a similar index for each insurer, based on each subsidiary’s market share, over a three-year period. Rates are determined separately for auto, home (including renters and apartments), and life insurance.