Nationwide Homeowners Insurance Review in 2023
As Farm Bureau Mutual Automobile Insurance Co., Nationwide Insurance started operations in 1926. The company, which has its headquarters in Columbus, Ohio, now provides a number of products, such as home and renters insurance, pet insurance, dentistry insurance, and more. Additionally, it provides access to Axos online banking as well as retirement and financial options.
In our ranking of the Top Home Insurance Providers for 2023, Nationwide and Erie are tied for fifth place. In addition to several coverages that consumers won’t find among many rivals’ typical offerings, the insurer offers basic coverage that incorporates the most popular forms of protection.
Nationwide includes protection against the misuse of credit and debit cards among its basic coverages, in addition to dwelling coverage, personal property coverage, and personal liability coverage. Unauthorised charges and fake checks are also covered by credit card coverage.
Other fundamental protections include support with living costs if a home cannot be occupied following a loss, medical payments in the event that a visitor is injured on a policyholder’s property, and coverage for other structures. Ordinance or law insurance is a basic policy benefit that can assist in rebuilding a home to comply with current building codes in the event of a loss.
Identity theft protection, water backup coverage, covering for priceless objects, and earthquake coverage—which has a separate deductible—are all optional add-ons.
The business offers price reductions for bundling insurance, rebates for installing safety and security systems, and claim-free opportunities.
Unlike its rivals, Nationwide offers standard protection against credit card fraud and assistance in reconstructing a destroyed property in accordance with code standards. The insurer also offers a number of add-on coverages, such as earthquake insurance, as well as a number of discounts. However, Nationwide does not offer home insurance in a number of states.
Nationwide ranks third in our list of the cheapest homeowners insurance providers for 2023, making it one of the least expensive firms we have evaluated. We estimated a monthly cost of $144.97 with Nationwide for a $500,000, 2,400-square-foot townhouse in Naperville, Illinois, used for comparison reasons. Your expenses will differ based on your home’s location, size, and age, among other things.
Nationwide vs. Erie Insurance
According to our ranking of the top home insurance providers for 2023, Nationwide and Erie are tied for fifth place. Both insurers sell home insurance plans, but Nationwide has a wider geographic reach. While Erie’s house insurance policies are available in 12 states, Nationwide offers coverage in the majority of states. Both promote insurance in Washington, D.C.
Customers who are interested in receiving a quote from Nationwide can do so online. To get started, prospective Erie customers must get in touch with one of the company’s 13,000 representatives. Customers of Nationwide can start the claim-filing procedure online, while both firms let policyholders conduct some business online, such as making payments for bills. Policyholders with Erie should first get in touch with their agent before submitting a claim.
Along with the most popular coverages, Erie and Nationwide also include a few special coverages in their fundamental plans. Nationwide provides coverage to help rebuild a lost house in accordance with current construction rules as well as protection against credit card theft.
For combining coverage and implementing security features like sprinkler systems, both companies provide discounts. Both don’t provide a loyalty discount.
Nationwide vs. USAA
USAA, which is tied for third place in our ranking, exclusively offers homeowners insurance to members. Military personnel, veterans, and their spouses and kids can all join USAA. For individuals who qualify, USAA provides standard house insurance protections that are comparable to those provided by Nationwide, the two companies tied for fifth place. These comprise, among others, habitation, liability, personal property, and visitor medical insurance.
Both Nationwide and USAA provide optional coverage for earthquakes, water backup, and the loss of valuables. With Nationwide, identity theft protection is an option; however, it is a part of every USAA plan, with the exception of those in North Carolina. Through the National Flood Insurance Programme, both provide flood insurance.
Policyholders can save in a variety of ways thanks to discounts provided by USAA and Nationwide. Both provide savings for combining policies and setting up security features like alarm systems. They also provide discounts with no claims.
In addition, Nationwide provides discounts for recent home purchases, gated communities, and roof ratings based on the age and surface of the roof.
Policyholders are permitted to start making a claim online through Nationwide and USAA. AM Best gives USAA an A++ rating as opposed to A+ for Nationwide.