Nationwide’s famous jingle is known the world over for its promise to be on your side with widespread and unique coverage. Special policies like the vanishing deductible and On Your Side® review increase your protection and simplify your life with well-rounded, comprehensive homeowners insurance coverage. Customer service is claimed to be a top priority for the insurance company, but customers are saying that isn’t the case.
Is Nationwide really on your side? This is our 2019 review of Nationwide Homeowners Insurance.
The specs
| Price | Varies depending on your home, location, and coverage |
| Best for | Multiple coverage options |
| Not for | Customer satisfaction |
| States served | 50 states and the District of Columbia |
| Discounts | SmartRide®, On Your Side® review, vanishing deductible |
| AM Best rating | A+ (Superior) |
| Standout features | Flexible policies, quick claims processing |
The claim
Nationwide prides itself on exceptional customer experience with affordable, widespread coverage. It also promises to be on your side. With all its popularity, Nationwide continues to be a leading provider for homeowners insurance, but is it truly the best home insurance available today?
Is it true?
Despite Nationwide’s claims about unwavering customer service, the reviews are mixed. J.D. Power ranks companies according to customer satisfaction levels, and, in the 2019 J.D. Power report, Nationwide placed low on the list with only two out of five stars. Competitors like State Farm and Allstate scored higher on the scale.
Despite the low scores from J.D. Power, Nationwide ranks higher in other studies. AM Best shows Nationwide is financially stable with an A+ Superior rating, which is usually a sign of efficient claims processing.
Nationwide is rated well by its customers, too, earning an A+ rating with the Better Business Bureau and an Excellent score from Consumer Reports.
Our deep dive
Nationwide is a multi-faceted insurance company that offers unique coverage to fit any lifestyle.
A standard Nationwide homeowners insurance policy includes several forms of protection.
- Dwelling coverage covers your home, any built-in appliances and wall-to-wall carpet.
- Personal property coverage includes the contents within your home.
- Personal liability and medical payments for any accidents that occur on your property.
- Loss-of-use coverage matches the limit for your dwelling coverage if your home is uninhabitable. It covers expenses like hotel costs while you have to stay somewhere else.
- Ordinance or law coverage ensures that in case of an accident, your home will be rebuilt according to building code.
- Inflation protection coverage protects your rate from skyrocketing with annual inflation.
Extended replacement coverage and flood insurance are available should you require more coverage. There are other services, too, like identity theft protection and the Valuables Plus program, which supplies added coverage for high-dollar items.
Cost rundown
Nationwide home insurance provides some of the most affordable coverage available today, and pricing and coverage depend on a few factors.
First, your address will be used to assess risk based on things like the local crime rate and distance from emergency services. The kind of home you have will determine your policy rates too. Older homes or homes from shoddy builders could increase your chances of damage to your home, so Nationwide homeowners insurance is a necessity.
Your premiums will also depend on the limits of your policy. Each type of coverage, such as your personal property or guest medical expenses, all have adjustable limits. The higher your coverage limit, the more expensive your Nationwide home insurance policy will be.
Cheaper (or free!) alternatives
Nationwide offers many of the same discounts that are common with homeowners insurance companies. There are discounts for bundling your homeowners policies with your car and life insurance policies. You can also save if you have additional safety discounts if your home is in a gated community or is equipped with additional security measures.
There are exclusive savings programs, too, that are designed specifically for Nationwide homeowners insurance policyholders.
- SmartRide® uses the latest technology with a tracking device that records things like your mileage, braking and acceleration. Nationwide uses this data to calculate an individualized discount based on your driving habits.
- On Your Side Review® ensures that Nationwide performs a free assessment of your policy each year. This will also occur after a major life event.
- Vanishing deductibles rewards you for safe driving by giving considerable savings on your deductible for each year without an accident.
- Accident forgiveness is available in some states, allowing one accident per homeowners insurance policy without an increase in your premium.
- Home purchase discounts apply to your homeowners policy if you bought a home within the last year.
- Home renovation credit rewards you with a discount if you renovate your plumbing, heating, cooling or electrical systems in your home. You could also get a discount for a newer roof.
New members can receive credit for continuous coverage with a previous company. Without a doubt, Nationwide provides more ways to save than many of its competitors.
The competition
There are many options for homeowners insurance, but these are some of the biggest competitors for Nationwide homeowners insurance.
Allstate
Allstate holds a J.D. Power rating of 3 out of 5, declaring Allstate’s customer service mediocre at best. Still, the company has an A+ rating from AM Best, signifying strong financial stability and quick claims processing. The many discount programs make Allstate an affordable choice for many homeowners, and it offers many different coverage options appealing to a wide demographic of homeowners.
Progressive
Progressive is popular for its wide range of coverage options. AM Best rated the company with an A+ score, but it was not included within the J.D. Power rankings. It is not the cheapest option for homeowners insurance, but customers appreciate perks like gap insurance, accident forgiveness and custom parts coverage.
State Farm
With exceptional scoring from AM Best and 4 out of 5 stars from J.D. Power, State Farm is a popular provider for homeowners insurance with branches nationwide. It also offers many opportunities to save, like personalized discounts for homes with extra security measures. State Farm is one of the most affordable homeowners insurance companies currently available today.
USAA
USAA is one of the most highly rated insurance companies around, but it is not for everyone because its service is limited to military households. USAA holds perfect scores with both AM Best and J.D. Power, and the many coverage options and extra savings programs continually make USAA one of the best homeowners insurance companies for those who qualify.
What others are saying
U.S. News regularly reports on national homeowners insurance trends, and in its review of Nationwide, U.S. News rated the company 3.7 out of 5 stars. The analysis shows that with Nationwide, “a wide variety of options are offered but can quickly drive up the cost.”
Customers don’t seem to mind too much, because Nationwide proudly holds an A+ rating from the Better Business Bureau and 4 out of 5 stars from Consumer Affairs for overall satisfaction based upon client reviews.
The bottom line
Based upon our research, Nationwide is definitely on your side with pricing, coverage and availability, and customers agree.
The post Nationwide Home Insurance Review appeared first on The Simple Dollar.
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