3 December 2020

Nationwide Home Insurance Reviews | 2020 Homeowners Guide

Nationwide Homeowners Insurance Review and Prices

Long before it was Nationwide by name or in the geographic sense, the Ohio-based Farm Bureau Mutual Automobile Insurance Co. wrote its first policy in 1926 with a goal of providing affordable insurance to local farmers. It wasn’t long before the young company began offering policies in other rural states and eventually in metropolitan areas. By 1955, a name change was in order, reflecting the company’s growth across the country, and Nationwide Insurance was born.

Based in Columbus, Ohio, Nationwide offers a full range of insurance and financial services across the U.S., including car, motorcycle, boat, homeowners, pet, farm, life and commercial insurance, along with annuities, mortgages, mutual funds, pensions, long-term savings plans and specialty health services.

With more than $158 billion in statutory assets, shareholder-owned Nationwide has grown to be one of the largest insurance companies in the U.S. Nationwide gets an A+ rating for financial strength from A.M. Best.

To insure a prototypical $250,000, two-bedroom town house in Naperville, Illinois, used for comparison purposes, we calculated a monthly rate of $79.02 with Nationwide.

Nationwide provides a variety of homeowners insurance policies, from standard policies to more customized options with added coverage. Specialized policies for renters and condo owners are also available to cover belongings and furniture, and to provide liability coverage.

Nationwide offers a smartphone app for policyholders to check and update policy details, make a payment or claim, call for roadside assistance and more. Similar services are available using a personal computer. Nationwide works with a national network of licensed agents, and its website will locate one near you. The company’s website also has an estimating tool to help you get an idea of what your rates will be.

What Home Insurance Coverage Options Are Available From Nationwide?

Standard homeowners policies with Nationwide provide the coverages typical of other insurance companies, including dwelling coverage to protect your home against damage from fire, theft and vandalism, and storm damage caused by lightning or wind. Standard coverage also includes personal property protection for your furniture, appliances, clothing and other possessions in your home. Other-structures insurance covers a garage, shed, fence or outbuilding on your property, while loss-of-use coverage can help pay for lodging and food or meals out while your home is being repaired or rebuilt following a claim. Liability coverage helps pay for medical and legal costs resulting from an injury to someone else on your property if you are deemed to be at fault. You have the option of raising limits on parts of the policy, such as adding coverage for personal property to cover jewelry or other valuables.

Nationwide includes other benefits that are not always standard with some competitors, including ordinance or law insurance to rebuild your home to current building codes after a covered loss if changes have been made since it was built. Credit card coverage helps pay for unauthorized transactions or ATM activity, along with reimbursement for forged checks.

Nationwide offers a number of optional coverages. Some, like flood and earthquake coverage, may either be mandatory or at least a very good idea, depending on where you live.

What Homeowners Insurance Discounts Are Offered by Nationwide?

Nationwide offers a variety of discounts on homeowners insurance. Your eligibility for discounts may depend on where you live and other factors. Check with an agent or a Nationwide representative for details.

  • Multipolicy: Bundling your homeowners insurance with another Nationwide policy, such as auto insurance, can get you a reduced rate.
  • Protective device: Equipping your home with a fire or burglar alarm, motion detectors, smoke detectors or other protective equipment may qualify you for a discount.
  • Claims-free: If you have not made a homeowners claim for three years or more, you may be eligible for savings.
  • Home renovation credit: Upgrading your home with new plumbing, heating, cooling or electrical systems can get you a discount.
  • Roof rating discount: A newer roof can provide better resistance to storms and cost less to insure than an older one.
  • Home purchase: New homebuyers may get a discount if their home was purchased within the last 12 months.
  • Prior insurance: Switching to Nationwide from another provider can lower your rates, based on the number of years you stayed continuously with the prior company.

What Additional Homeowners Insurance Coverages Are Offered by Nationwide?

Optional coverages from Nationwide include a variety of things that may make sense for you. Some, like flood and earthquake coverage, may either be required or advisable depending on where you live. Talk to an agent or call Nationwide customer service for more advice.

  • Identity theft: This helps monitor activity in your financial accounts and provides up to $25,000 in reimbursement to help pay legal fees and losses associated with fraud or identity theft.
  • Valuables Plus: Nationwide’s branded name for additional personal property insurance, this provides higher coverage levels for jewelry, art and other valuables that might exceed the limits of a standard policy.
  • Replacement cost plus: This increases the amount covered by your standard policy by up to 20% if your home needs to be rebuilt after a loss.
  • Water backup: This covers repairs following a septic system backup or sump pump failure that are not covered by a standard policy.
  • Flood insurance: Flood damage is not covered by a standard policy. Flood insurance may be required depending on where you live and is a separate policy with its own deductible.
  • Earthquake coverage: Like flood insurance, earthquake insurance is not included with a standard policy. A separate deductible applies.
  • Brand New Belongings: A standard homeowners policy with Nationwide will pay to repair or replace damaged or stolen personal possessions, less depreciation. This option provides additional reimbursement for new replacements.
  • Better Roof Replacement: This helps replace a damaged roof after a covered loss with a new, stronger one, using better materials to make it more resistant to the next storm.

Other Questions About Nationwide

What does Nationwide homeowners insurance cover?
A standard homeowners policy with Nationwide covers your home and its contents after damage or loss from theft, fire or storms. It also provides liability protection to help with medical and legal costs if others are injured on your property. A standard policy includes coverage for outbuildings and loss-of-use coverage to help pay for meals and lodging elsewhere while your home is being repaired or rebuilt. Nationwide also includes two features not always found in a standard policy: ordinance or law insurance to help rebuild your home to current building codes after a loss, and credit card coverage to help guard against fraud and pay for unauthorized transactions.

What does Nationwide homeowners insurance not cover?
Damage from a flood or earthquake is not included with standard coverage from Nationwide. Both need additional coverage and may be required depending on where you live. Expect costs to vary widely depending on risk. Similarly, damage from a failed septic system or sump pump is not covered and requires optional insurance. Valuable art, jewelry or collectibles may also require additional coverage.

How much is Nationwide homeowners insurance?
For a prototypical $250,000, two-bedroom town house in Naperville, Illinois, used for comparison purposes, we calculated a monthly rate of $79.02 with Nationwide. Your costs will vary depending on your home’s location, size and age, as well as other factors.

Does Nationwide homeowners insurance cover mold?
Mold damage may be covered, depending on the source of the mold and the limits of your policy. Mold caused by a washing machine or dishwasher that breaks suddenly probably is covered within limits. Your homeowners policy probably will not cover mold that results from a flood unless you purchase optional flood insurance, because floods are not covered by standard homeowners insurance.

Does Nationwide homeowners insurance cover water damage?
Damage from something like a burst pipe or failed washing machine hose may be covered by a standard homeowners policy with Nationwide, but flood damage or repairs needed after a sump pump or septic system failure are not. Optional coverage is available for either.

Does Nationwide homeowners insurance cover termites and insects?
Nationwide does not include insect damage as part of standard homeowners coverage because it is typically considered a preventable maintenance issue.

Does Nationwide homeowners insurance cover theft?
Loss from theft is included in a standard homeowners policy from Nationwide. However, depending on their value, jewelry, art or other collectibles may exceed the limits of a standard policy and require additional coverage.

Does Nationwide homeowners insurance cover roof leaks?
If a roof is damaged as the result of a falling tree or storm covered by your policy, repairs will be covered. A leak caused by neglect or age is not.

Does Nationwide homeowners insurance cover tree damage?
Damage caused by falling trees or branches as a result of wind may be covered, depending on the circumstances and your policy.

Does Nationwide homeowners insurance cover dog bites?
The liability portion of a standard homeowners policy typically does provide coverage for dog bites, but a severe injury may exceed the limits of your coverage. Depending on your circumstances, additional liability coverage may be a good idea.

Does Nationwide homeowners insurance cover personal injury?
A standard policy does cover personal injuries, but you may want to consider additional coverage if a trampoline, pool or other item on your property increases risk to guests.

Does Nationwide homeowners insurance cover fire?
Fire insurance is included with a standard policy from Nationwide up to certain limits.

Does Nationwide offer a gated community discount?
Nationwide offers a discount when all vehicle entrances to your community are protected at all times by security guards, residence cards or key-lock devices.

How U.S. News Evaluated Homeowners Insurance

We explain what our research has determined matters most to consumers, experts and professional reviewers when it comes to homeowners insurance. Then we provide an unbiased evaluation of the homeowners insurance companies our research determined consumers, experts and professional reviewers searched for most frequently. Our goal is to empower consumers with information and tools to help them make informed decisions. More information about our 360 Reviews methodology for evaluating homeowners insurance companies is here.

U.S. News 360 Reviews takes an unbiased approach to our recommendations. When you use our links to buy products, we may earn a commission but that in no way affects our editorial independence.

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