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Nationwide
9.8
ratings

Overview

Nationwide is an extremely prestigious organization that has been operating since 1926. It is known for the suite of insurance and other financial products, and its car and homeowners insurance products have become very popular in recent years due to their stellar record and highly rated financial stability.

Nationwide is known for going beyond the call of duty and offers a whole range of extended products. Besides their usual home insurance policies, they offer flood, earthquake, and almost every coverage you can think of. They also help you get more uncommon coverages like ordinance insurance to help protect some of the older houses.

 

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Pros

  • Specific coverages
  • High financial stability
  • More discounts than competitors

Cons

  • High costs
  • Average customer satisfaction
  • Ineffective online quote tool

Disadvantages

While Nationwide does offer specific coverages, they do come at a price. Many users are dissatisfied with the high costs, which are higher than competitors. Also, its customer satisfaction is average at best. The online quote tool fails to work efficiently many a times, leaving you with the only option of having to approach an agent.

Advantages

There are several features that are new like the ordinance insurance that covers the cost of rebuilding in accordance with the current building code. If your house happens to be flooded by sewers or drains, there is also a water backup of sewer coverage extended if you choose to get it.

Nationwide’s best attribute is its discounts. Unlike most insurance providers, the company’s discounts vary from state to state. However, it offers more discounts on an average than the other insurance providers.

Extended home insurance coverage

With the extended insurance coverage package, the insured can avail of a set of options that are very handy, especially in the event of a disaster or accident. They are also known as optional coverages and provide the insured with more options besides the standard suite options.

  • Valuable items coverage
    The valuables plus coverage option from Nationwide is very well received. It provides additional coverage for valuable items like jewelry, watches, antique art, and other similar high-value items.
  • Theft coverage
    Theft coverage is provided with the standard homeowners insurance policy, and personal property limits are for the most part set at a percentage of the dwelling insurance costs. However, the Brand New Belongings coverage does protect the insured against theft.
  • Dwelling replacement coverage
    The replacement cost plus is a very useful optional coverage and can pay up to 20% more of the regular property coverage limit in case you need to rebuild your home from scratch after a disaster.
  • Personal property replacement coverage
    The Brand New Belongings policy can help protect you against losses sustained in relation to personal property. Even the homeowner’s insurance policy should protect you to a certain degree.
  • Identity fraud coverage
    Due to the increased risk of cybercrime as well as other threats, the identity theft optional coverage has become useful.

Some other policies one could consider are the umbrella policy or the business owner’s policy if there is anything left out of the mentioned. The suite is fairly extensive, and the coverage provided is far more than you could possibly need.

Features

There are several exciting features with Nationwide’s suite of products. What is particularly well reviewed is their Brand New Belongings product that helps the insured replace the item that was lost or stolen, as the case may be. Usually, the insurance company reimburses you for the depreciated value of the product, but this is not meant for that. Nationwide gives you the funds to purchase the product new at the very low value. They then reimburse you for the difference that it took to buy the aforementioned item. The product is designed so as to help you receive some money upfront for purchase or repairs and then release the remaining amount after you produce receipts to that effect post the purchase. Some of the services that Nationwide offers are as follows:

  • Dwelling coverage
    Dwelling coverage is a part of the standard homeowners policy offered by Nationwide. The coverage is designed to protect the structure of your home as well as protect you against specific perils that are mentioned in the document.
  • Personal property coverage
    The homeowner’s insurance policy covers all property that is not attached to your home or affixed and built into the house. This includes electronics, furniture, and clothing as well.
  • Personal liability coverage
    If there is an accident within the premises wherein there is damage to someone or something, personal liability coverage can help cover the damage and loss arising out of it.
  • Other structure coverage
    The homeowners insurance policy covers all the other structures that are not attached to the home. This includes the shed, barn, gazebo, fence, and any detached garage on the same property.
  • Loss of use coverage
    If you happen to be in a disadvantaged position due to the loss of your property or if your property becomes uninhabitable, the loss of use coverage will cover the expenses you incur to live outside.
Nationwide