Nationwide Insurance

time icon 7 min read update icon Sept. 20, 2019
21 Ratings - Write Review
9.4
Grand Score
9.1
User Score
9.4
Grand Score
9.1
User Score
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If you are considering a new homeowner’s policy or are moving into a new home, Nationwide is a stable, well-known company with great options for coverage.

We all know it's important to make sure the policies that protect us, like life insurance and car insurance, will cover the things we need them to. One that we need to pay special attention to is homeowner’s insurance, the policy that protects the home you live in. No matter which company you purchase your policy from, you’ll likely finda basic package. However, every company has different optional supplemental coverages that may or may not suit your needs. 

For this reason, it is important to consider each type of policycarefully so you can rest easy knowing that you are covered if your home is damaged, or if a theft occurs. Nationwide offersstandard coverage, as well as some optional coverages that might be just what you need.

Grandfolk Scoring
Coverage 9/10
Limits to coverage 10/10
Cost 8/10
Claims 10/10
Deductible 9/10
Discounts/credits 10/10
Protective devices 10/10
Cancellation 10/10
Ease of enrollment 10/10
Waiting Period 7/10
Customer Support 10/10
Coverage
What is covered in a basic policy?
Your home, its contents, liability, loss of use, and medical payments
Limits to coverage
What is the maximum the company will pay?
This is based on the value of your home and your desired coverage
Cost
How much will I pay in monthly premiums?
Premiums are based on your location and chosen deductible
Claims
How do I submit a claim?
You can submit your claim online or call your agent
Deductible
How much will I pay in deductibles?
Your deductible will vary depending on your chosen premium
Discounts/credits
Does the company offer any discounts?
Discounts for bundling and safety devices are available
Protective devices
Are credits given for safety devices?
Yes, depending on the devices you have installed
Cancellation
Can I cancel my policy?
Yes, but be sure to have another policy in place first
Ease of enrollment
Ways you can enroll
Online, by phone, or through a local agent
Waiting Period
How soon can the policy be used?
Check with customer service for specifics
Customer Support
Ease of access
Contact customer support online or by phone
Age Score:
10
50-64 Years
10
65-74 Years
8
75-84 Years
8
85-Older

Homeowner’s insurance is something thateveryone homeowner needs. After all, you never know when an emergency or natural disaster may occur. Unlike many other insurance companies, Nationwide sells its policies through individual agents. This makes it much easier to get your questions answered when you are ready to purchase a policy. Seniors will most likely feel more comfortable with someone they can talk to one on one, and call with additional questions if necessary. 

If you don’t understand the coverage specifics in your homeowner’s insurance policy, an agent can explain each part. You never know when you will need to access the policy, so knowing what is covered and what is not is essential.If you are an older senior and live on your own, it is wise to have a family member help you choose the best policy.

Health Score:
10
Great Health
10
Good Health
10
Fair Health
10
Poor Health

When you live somewhere for many years, your home becomes your castle. You may have collected pieces of art or some memories of your children that are very important to you. Having homeowner’s insurance is a necessity if you want to protect your home and belongings. Finding the right policy can be confusing, but Nationwide sells its policies through individual agents. This makes it easier for a senior in any stage of health to have their questions answered and their needs understood. When you find someone you can trust to help you find the right coverage, you will have one less worry on your mind. 

Nationwide provides the usual coverage standard in the industry, but also offers personal umbrella liability insurance, which will provide an extra layer of protection for your assets if you are sued. Seniors who have other things to worry about may find this an excellent option.

Pros:

  • Nationwide states that since it does not have shareholders, it is able to put customers first.    
  • The company offers a mobile app that you can use to pay your bill and view your insurance information.
  • Nationwide sells flood insurance, which many other companies do not offer.
  • Nationwide maintains a list of contractors through On Your Side, a property repair network, but you can still find your own contractor if you prefer.
  • Nationwide offers a free annual insurance assessment (On Your Side Review) to its customers.

Cons:

  • There are a few states (less than ten) where Nationwide insurance is not available.
  • Unattached structures on your property will need to be covered by a rider to your policy.
  • The website is minimal and does not provide an abundance of information. 
  • It is not clear from the website what is included in a basic policy.
  • Nationwide does not offer identity theft coverage.

Bottom Line:

Over its 85-year history, Nationwide has significantly expanded its coverage options. In addition to offering homeowners insurance, the company offers car insurance, business insurance and life insurance, as well as loans, checking and savings accounts, annuities, mutual funds and retirement plans. It also offers flood insurance and earthquake insurance, which many other insurers do not offer. 

Furthermore, Nationwide sells its policies through individual agents, which is a plus if you are looking for a more personal transaction than simply clicking and buying online. The company is among the top ten homeowner’s insurance providers, with knowledgeable agentsand excellent responsiveness.  

Frequently Asked Questions:

How can I get a quote? 

You can get a quote by entering your zip code on the Nationwide website. After getting a quote online, you should find a local agent that can assist you in finding the best coverage for your needs.

What kind of discounts does the company offer? 

Nationwide offers a multi-policy discount, which some other companies refer to as ‘bundling.’ If you have installed fire alarms, burglary alarms or other such devices, you can receive a discount. If you remain claims-free you will also be eligible for a discount. Finally, if you are 60 years of age or older, you may be eligible for an additional discount.

What optional supplemental coverages does the company offer?

Nationwide offers optional insurance riderssimilar to those offered by other companies. These include Replacement Cost Plus, which provides additional coverage over your limit if additional funds are needed to rebuild; Better Roof Replacement; Valuables Plus, which covers high-value items; water backup of sewer coverage; personal umbrella liability insurance, which expands protection of your assets if you are held liable; and ordinance insurance, which helps to rebuild your home to current building codes after a covered loss. 

Nationwide also offers flood insurance and earthquake insurance.

More Information:

Product Details

Overview:Nationwide offerscoverage for your dwelling, the contents of your home, personal liability and medical payments. 

Package Details:The differences between homeowner’s insurance packagesarise when you look at the various options you can include with your basic plan. Nationwide is one company that does not cover unattached structures, likegarages or gazebos, in its basic policy. You willneed to add special coverage if you want to insure one of thesestructures.

The company does offer Replacement Cost Plus, which provides addition coverage to rebuild your home over the basic coverage. It also provides a rider that covers your valuables, an ordinance rider so you can rebuild your home to current building codes, and additional water backup of sewer. Unlike many other companies, Nationwide offersflood insurance and earthquake insurance. 

Other Services:Nationwide is the exclusive insurance partner of Plenti. Plenti is a rewards program for earning points that can be used to purchase other items. As a member, you also earn points for paying your auto and property insurance premiums. 

Additional Company Details

Contract Details:Although most insurance companies follow standard practices of the ISO and American Association of Insurance Services for a basic policy, some choose to use their own policies. In either case, your state’s insurance department must approve the policy. Nationwide’s website does not clearly state what its basic policy includes, so make sure that you read your contract very carefully before you sign, and ask your agent any questions you may have. Luckily, you can cancel your insurance policy at any time if the need arises.

Warranty: Nationwide believes you will be happy with its service. The company toutsa superior claims service on its website. However, if you are not happy, you can cancel and get a refund of any unused premiums.

Accreditations:Nationwide is not accredited by the Better Business Bureau;however, the company maintains an A+ rating.

Company Details: Nationwide has been in business since 1925. It began as a small mutual auto insurer owned by policyholders, and is now one of the largest financial services and insurance companies in the world. Originally named the Farm Bureau Mutual Automobile Insurance Company, the company sold its first policy in 1926. From there, the company slowly expanded, mostly in the Eastern U.S.,to 12 states and the District of Columbia by 1943. The company changed its name to Nationwide in 1955 as it expanded westward. 

Nationwide built its first international headquarters in central Ohio in 1978, and went public in 1997. Today, itis a Fortune 500 company that offers a full range of insurance and financial services across the country. Social outreach by the company includes supporting local food banks, the American Red Cross and United Way.Nationwide is also the primary sponsor of the NASCAR team of Dale Earnhardt Jr. 


Contact:

Nationwide Insurance
1 Nationwide Plaza
Columbus, OH 43215
Tel: (877) 669-6877
Website: https://www.nationwide.com

Donna McDurfee - Senior Advisor

Donna is senior researcher with Grandfolk® providing in-depth product and service reviews to empower senior buying decisions.