Is Nationwide Homeowners Insurance Legit? A Review of Its Cost, Coverage Options, Discounts, Customer Service, Claims

Is Nationwide Homeowners Insurance Legit?

Nationwide is one of the largest and most reputable home insurance companies in the U.S.

It offers a variety of coverage options, discounts, and benefits for homeowners.

But is Nationwide homeowners insurance legit? How does it compare to other insurers in terms of price, customer service, and claims satisfaction?

In this article, we will answer these questions and more.

Nationwide Home Insurance Cost Comparison

One of the factors that homeowners consider when choosing an insurance company is the cost of premiums.

Nationwide offers competitive rates that are lower than the national average, according to a study by Quadrant Information Services.

However, the cost of home insurance varies depending on several factors, such as:

• location, size, age, and condition of the home
• the amount and type of coverage
• the deductible
• the discounts applied

To get an accurate quote, homeowners should compare rates from multiple insurers and choose the best option for their needs and budget.

Nationwide Home Insurance Coverage Options

Nationwide provides standard home insurance coverage that includes dwelling, other structures, personal property, liability, and additional living expenses.

It also offers optional coverages that can enhance the protection and value of the policy, such as:

• Dwelling replacement cost plus: This option pays up to an additional 20% of the dwelling coverage limit if the cost of rebuilding the home exceeds the original amount.
• Guaranteed replacement cost: This option pays the full cost of rebuilding the home, regardless of the dwelling coverage limit or the depreciation of the home.
• Water backup: This option covers damage caused by water backing up from sewers, drains, or sump pumps.
• Identity theft: This option covers expenses related to restoring the identity of the policyholder or a family member after a theft or fraud.
• Valuables plus: This option covers high-value items such as jewellery, art, antiques, and collectables, up to a specified limit.
• Earthquake: This option covers damage caused by earthquakes, which is typically excluded from standard home insurance policies.
• Flood: This option covers damage caused by floods, which is also excluded from standard home insurance policies. Nationwide partners with the National Flood Insurance Program (NFIP) to offer this coverage.

Nationwide Home Insurance Discounts

It offers several discounts that can lower the cost of home insurance premiums, such as:

• Multi-policy: This discount applies when the policyholder bundles home insurance with another Nationwide product, such as auto, life, or umbrella insurance.
• Protective device: This discount applies when the home has security and safety devices, such as smoke detectors, fire alarms, burglar alarms, or deadbolt locks.
• Claims-free: This discount applies when the policyholder has no claims for at least five years.
• Roof rating: This discount applies when the home has a roof that is less than 10 years old and meets certain standards for durability and resistance to wind and hail.
• Home renovation: This discount applies when the home has undergone renovations or improvements to the plumbing, heating, cooling, or electrical systems within the past five years.
• Home purchase: This discount applies when the policyholder purchases a new home or switches to Nationwide from another insurer within the past 12 months.

Nationwide Home Insurance Customer Service and Claims

Nationwide has a good reputation for customer service and claims handling, according to various sources.

It has a low complaint ratio, which means that it receives fewer complaints than expected for its size, according to the National Association of Insurance Commissioners (NAIC).

It also has a high financial strength rating, which means that it can pay claims, according to AM Best.

Nationwide offers several ways for customers to contact the company, such as phone, email, online chat, mobile app, or agent.

It also offers several ways for customers to file and track claims, such as online, by phone, by mobile app, or by agent.

It claims that it can process most claims within 10 days or less, and it provides a written guarantee on the workmanship of its approved contractors.

Nationwide Private Client Homeowners Insurance

Nationwide also offers a specialized home insurance product for high-net-worth homeowners, called Nationwide Private Client.

This product provides enhanced coverage and benefits, such as:

1. A cash-out option if the home is destroyed and the policyholder decides not to rebuild.
2. Coverage for accidental breakage of items such as crystal, china, and statuary.
3. Equipment breakdown coverage for appliances and home systems.
4. Unlimited loss of use coverage for additional living expenses.
5. Higher liability limits and umbrella coverage.
6. Dedicated claims and risk management specialists.

Conclusion

Nationwide homeowners insurance is a legit and reliable option for homeowners who want comprehensive coverage, competitive rates, and excellent service.

It offers a variety of coverage options, discounts, and benefits that can suit the needs and preferences of different homeowners.

Nationwide also offers a specialized product for high-net-worth homeowners, called Nationwide Private Client, that provides enhanced coverage and benefits.

Nationwide has a low complaint ratio, a high financial strength rating, and a fast and easy claims process.

Homeowners who are interested in Nationwide homeowners insurance should contact the company or an agent for a quote and more information.

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