Friday, August 12th
2022 Home Insurance Company Reviews
Nationwide
- Get a quote online
- Some standard features are add-ons for other companies
- Plenty of discounts available
- Offered in almost all of the U.S.
Nationwide's standard policies tend to cover what other insurance companies might have as add-ons. It's available in most states, they offer discounts, and they are one of the ten largest homeowner insurance companies in the U.S. They've been around since 1925 and are based in Columbus, Ohio.
Standard coverage
Nationwide does include the coverage that most other companies offer, such as your dwelling, other buildings on the property, your personal belongings, hotel stays and restaurant food if you are displaced due to an approved claim, personal liability if you injure others or their property, and medical payments to guests in your home. They also assure you they'll bring your home up to code, even if the code has changed since your home was built, up to 10% of the dwelling coverage. If there's unauthorized credit card or debit card transactions, they'll cover $500 in losses.
Add-ons
You can increase the $500 credit/debit card losses to a $10,000 maximum with an add-on policy; you can get extended replacement cost of your dwelling up to 20% above your policy limit if it costs more than expected to rebuild your home; you can replace your belongings with brand new items; you can replace your roof with a better one; you can cover your specific valuables; and you can also purchase water backup coverage.
Cost
Out of all of the home insurance providers we evaluated, Nationwide came in as one of the most expensive. For the sample residence we quoted, it was $2,207 per year for a home valued at $300,000. We didn't see anything so above-and-beyond in Nationwide's coverage that would justify a higher-than-average premium.
Discounts
There are several discounts offered where hopefully you can take advantage. If you are claim-free for a certain period of time, if you bundle your home and auto policies, if you have purchased your home within the past year, if your roof is of a certain age and material, if you are renovating and upgrading the electrical or more, if you have protective devices such as fire alarms or security systems, if you're in a gated community, or if you are a new policy holder that's been continually covered by a previous insurer, you might be eligible for discounts.
Online access
You can manage your account online or with Nationwide's versatile app. This is convenient, since you can file a claim, pay your bill, set up auto-pay, request paperless billing, and learn about various insurance topics all from your phone.
The good and the bad
With Nationwide, you can easily get a quote for your policy and customize it with add-on coverage that fits your personal needs; there are several discounts which might help bring your premium down; and the Better Business Bureau gives them an A+ rating. Unfortunately although the name is Nationwide, their policies aren't offered in all states. Customer service may not always be easy to get a hold of, but you can try via phone or email, perhaps not with an immediate reply. Reviewers find that the pricing can be average to high, but that always depends on the insured, their location, and other factors. In all, Nationwide earns a mixed review from us. We suggest looking at their competitors first.
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Which Company Offers the Best Home Insurance?
Your home is probably one of the most important and valuable assets you have. Whether you've purchased a new home or have paid off the mortgage years ago - congrats on either! - your home is an asset you'll want to protect and not be without.
If you have a mortgage on your home, the lending company may require you to show proof of insurance to assure both them and yourself that you are protected, financially and otherwise, in case of a disaster causing damage or complete destruction. Even if you have paid for your home in full, a disaster that leaves your home damaged or uninhabitable could cost thousands to repair or hundreds of thousands to replace. Most people don't have that cash on hand; or if they do, that's not how they would choose to spend it.
Home Insurance Company FAQ
Continued from above...
It's fast and easy to get a policy online. For many, it's a great decision. However, when it comes time to make a claim, you might not have purchased the right policy for you. For example, you may not have considered flood or earthquake insurance. You might not have insured your very valuable items individually, and if they're stolen, they're probably not covered.
On the other hand, if you work with an agent to get your policy, they will probably ask you a myriad of questions to get the policy you need. Online can be great, just be sure you know what you want in a policy.
Here are a few things to consider when purchasing a homeowners policy.
- Standard coverage. What does the standard policy include?
- Add-ons you might need. You might need insurance for floods, earthquakes, or hurricanes. You might want to insure specific valuables under a separate policy so you know they are covered..
- The limits of the coverage. Limits are the maximum amount they would pay out per situation. Make sure the limits are high enough to cover your costs.
- Your deductible. This is the financial responsibility you will have per occurrence. If you don't want to pay much per occurrence, you'll lower your deductible, but pay more in your yearly premium.
- Discounts. There can be a few discounts that could pertain to you, depending on your situation and depending on the insurance company. You might qualify for a discount if you have had no claims, have a new house, are a senior citizen, have an HOA, and the list goes on.
- Reputation of the company. More reliable companies might cost you more, and the less reliable companies might be super inexpensive. Beware: you might get what you pay for.
To provide you with the best information so that you can get the right policy and best insurance company for you, TopConsumerReviews.com has evaluated and ranked the most popular sources of homeowners insurance available today. Getting the right policy is like cuddling with a warm blanket, since you'll have that assurance you'll be covered if any damage or destruction to your home. The process of choosing a homeowners insurance policy might have seemed daunting and you may have avoided it for as long as you can, but we can help make it easy.
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