2024 Nationwide Homeowners Insurance Review

Homeowners insurance is affordable nationwide, with many discounts available to lower your premiums even more.

Our insurance policy stands out from competitors due to its comprehensive coverage, including earthquake and flood damage, dwelling replacement cost rider, and service line coverage.

Credit card fraud protection is a standard feature in basic policies, which is something many competitors lack.

Nationwide homeowners insurance pros and cons

Pros

Nationwide offers affordable rates that are 25% below the national average, and also provides discounts for bundling, staying claims-free, and more.
Unauthorized card transactions, forged checks, and counterfeit money are covered under basic credit card fraud protection policies.
If your home is a total loss, you have the option to buy or build elsewhere.
Some insurance companies refuse to provide liability coverage to owners of certain breeds, including Doberman pinschers and pit bulls.

Cons

J.D. Power customer satisfaction surveys ranked Nationwide below average, and the company has a slightly higher-than-average number of complaints.
Homeowners policies are not offered in Alaska, Florida, Hawaii, Louisiana, Massachusetts, New Jersey, or New Mexico.
Late 2024, Nationwide will discontinue its high-net-worth line under the Private Client brand.
Purchasing a policy from Nationwide requires speaking with an agent, even though you can obtain a quote online.

Compare prices to find the best home insurance

Types of Nationwide homeowners insurance

In 43 states and Washington, DC, the company provides homeowners insurance policies, in addition to renters and condo coverage.

Basic coverage

A standard Nationwide policy includes several types of coverage:

Rebuilding or repairing your home, including the physical structure and any permanent fixtures, appliances, or attached structures, can be beneficial when dwelling.
Repairing or replacing items inside your home can be costly, but Nationwide offers policies that cover the actual cash value or replacement cost value of your belongings.
Other structures not attached to your house, such as a shed, fence, or detached garage, are covered by the insurance policy.
Homeowners insurance provides financial protection if you are found liable for any injuries or property damage that occurs on your property.
Medical payments to others: Covers the medical or funeral costs of an individual who was injured on your property.
If your home is being repaired after a covered incident, you will be compensated for expenses such as food, housing, and other costs if you need to relocate.
Insurance for building code upgrades after a loss: This is what ordinance or law insurance covers.
Credit card protection: Covers unauthorized transactions on credit cards and debit/ATM cards, as well as forged checks and counterfeit money.

Riders and endorsements

There are many ways to tailor your Nationwide policy.

Better Roof Replacement:® Pays for upgrades to your roof after covered damage
The add-on can pay the difference for a brand-new replacement after your policy pays the depreciated value of an item.
Rebuilding cost coverage: Provides up to twice the value of your dwelling insurance if your home needs to be reconstructed after a covered loss.
Earthquake: Covers damage from an earthquake, with a separate deductible.
Replacing a faulty appliance or system, such as a refrigerator, oven, or HVAC system, will be covered under equipment breakdown coverage.
Flood protection: A standalone policy and deductible for safeguarding your home and its contents against flood damage.
Identity theft: Reimbursement of up to $100,000 for out-of-pocket expenses and access to resolution experts.
Utility lines repair or replacement coverage is included in service line coverage.
Umbrella insurance provides additional coverage for property damage, injuries, and personal liability beyond what is included in your standard policy.
Valuables Plus® enhances the worth of insurance for valuable items such as jewelry and antiques.
Sump pump overflow or drain/sewer backup coverage: Water backup.

Nationwide homeowners insurance rates

In July 2024, the nationwide average for $300,000 in dwelling coverage was $1,681 per year, which is about 25% below the national average, according to Bankrate. However, individual quotes may vary based on various factors such as location, insurance score, claims history, property size and age, and other factors.

Nationwide homeowners insurance discounts

A variety of discounts are offered by Nationwide to help lower premiums, although not all are available in every state and some cannot be combined.

Claims-free: Stay claims-free and lower your premiums
Protected vehicle entrances: A gated community is available if all entrances are secured with guards, swipe cards, or key-lock devices.
Purchase of a home: Possible if you acquired your residence within the last year.
Obtain a discount on home renovation credit if you have recently upgraded your plumbing, heating, cooling, or electrical systems.
Combine your home and auto insurance with Nationwide and save up to 20%.
Prior insurance: Receive a discount based on the length of time you were insured by your previous provider.
Safety features, including smoke detectors, fire alarms, burglar alarms, and other protective devices, are eligible for discounts.
Discount on roofs: Reduce your rate based on the age and material of your roof.
Nationwide offers free smart home monitors to help you save on fire, theft, and water coverage.

Nationwide Insurance customer satisfaction

J.D. Power's 2023 U.S. Home Insurance Study ranked Nationwide below average for customer satisfaction, but it excelled in the claims process, placing sixth out of 19 insurers.

Nationwide received an A+ rating from the Better Business Bureau, which is its highest score. However, according to the National Association of Insurance Commissioners (NAIC), Nationwide had a slightly above-average number of complaints about homeowners insurance compared to other providers of similar size.

Nationwide received an A rating from A.M. Best, indicating its ability to pay out claims and being the second-highest grade.

Other Nationwide insurance

One of the largest insurance providers in the U.S., Nationwide offers a wide range of policies, including:

You can save up to 20% by bundling your home and auto policies, as stated by Nationwide.

How Nationwide compares to other homeowners insurance

How does Nationwide Insurance compare to two prominent competitors in the home insurance industry?

Nationwide vs. Farmers

Farmers offers lower prices than Nationwide, with rates starting at $300,000 for dwelling coverage. However, if you qualify for some of Farmers' 14 discounts, your rate could be significantly lower.

Both companies have a range of endorsements to increase your coverage, but Nationwide provides additional coverage for floods, earthquakes, equipment breakdown, and service line damage.

While neither Nationwide nor Farmers are exceptional customer service providers, Nationwide ranked eighth out of 21 providers in J.D. Power's survey, compared to Farmers' 16th place. However, customers are more satisfied with the claims process, as Farmers scored fourth out of 19 in J.D. Power's claims satisfaction survey, while Nationwide came in sixth.

According to the NAIC's complaint index, homeowners insurance complaints about farmers were significantly lower than those about Nationwide.

Nationwide vs. State Farm

Both Nationwide and State Farm offer competitive pricing for homeowners insurance. However, Nationwide offers more discounts, which could significantly reduce your premiums if you qualify for enough.

While State Farm outperformed Nationwide in J.D. Power's customer satisfaction study, Nationwide excelled in the claims process survey. Although State Farm received an A from AM Best for financial strength, its rating was downgraded to a B in 2024. Additionally, State Farm has a slight advantage in availability, with policies available in 48 states compared to Nationwide's 43.

How to buy homeowners insurance from Nationwide

You can obtain a quote for Nationwide insurance by visiting the website, contacting a local agent, or calling 855-807-4314. To receive a quote, you must provide details about yourself and your home, such as the location, age, and proximity to the nearest fire station.

Filing a homeowners insurance claim and checking its status can be done online or by calling Nationwide's claims department at 800-421-3535. However, nationwide home insurance policies are not available online. When filing, make sure to have the necessary information ready.

Your policy number
Pictures of the damage
Contact info for any witnesses
Relevant police or fire reports

Nationwide's app enables you to file property policy claims, pay bills online, and adjust due dates. Although Nationwide lacks an online chat feature, it provides a text messaging program for managing payments and claims. Additionally, policyholders can contact Nationwide at 877-669-6877 to manage their policies.

Is Nationwide homeowners insurance right for me?

If cost is a significant concern, Nationwide is a wise option due to its lower-than-average premiums and various discounts. Additionally, it should be considered if customization is desired, as it offers riders that protect against earthquakes, floods, and provide additional coverage for valuables.

Despite its poor reputation for overall customer service, Nationwide customers generally have positive views of the company's claims process handling.

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Our goal at CNBC Select is to deliver top-notch service journalism and detailed consumer advice to our readers, enabling them to make well-informed decisions regarding their finances. Each homeowners insurance review we publish is the result of thorough reporting by our team of expert writers and editors, who possess extensive knowledge of the subject matter. At CNBC Select, we take pride in our journalistic standards and ethics, and we earn a commission from affiliate partners on many offers and links. However, our content is created independently by our team without any input from our commercial team or external third parties.

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