Nationwide renters insurance is typically affordable and can help you replace your belongings if they are lost or damaged due to theft or a covered natural disaster and pay for medical bills if someone gets injured in your home. Its digital tools make it easy to manage your rental insurance online from getting a quote to making payments.
If you rent a house, apartment, or dorm, it’s essential to understand what you’re responsible for if your belongings are lost or stolen. Your landlord won’t cover the costs of replacing your property, so the best way to protect yourself is with a rental insurance policy.
In this Nationwide renters insurance review, we’ll discuss how the company performs across several categories, including customer satisfaction and coverage. The company is one of the best renters insurance providers in the United States so it’s worth taking a look when looking for a new policy.
Nationwide Renters Insurance Overview
Most of the American public are at least somewhat familiar with Nationwide as a brand, with 91% of people saying they’ve heard of the company. Among those who are familiar with Nationwide, 38% have a positive opinion of the company. 45% have a neutral opinion, and 8% have a negative opinion.
In terms of customer feedback, the most common complaint from policyholders in the BBB website is the difficulty to get the company to pay their claims. Negative customer feedback on review sites isn’t uncommon among insurance companies, since some policyholders use social media to express their dissatisfaction when things have gone wrong.
PROS
CONS
Nationwide Highlights
Methodology
We evaluated Nationwide’s renters insurance based on its customer rating and experience, financial stability, and coverage to determine the best companies. To compare insurance companies across the board, we then calculated a Reviews.com score based on the following:
- Customer Ratings– Customer ratings are an indication of satisfaction with the process of filing a claim. We measured this using J.D. Power Homeowners Satisfaction ratings.
- Coverage– As there isn’t one company to fit everyone’s needs, we evaluated companies by the amount of coverage options available and add-ons available.
- Confidence– It is extremely important for insurance companies to fulfill customers’ claims. Companies with sound financial strength will not have issues paying out claims, regardless of the amount. However, companies with weak financial strength might not be able to pay out claims. We measured this using AM Best.
- Customer Experience– The amount of complaints a company receives is an indicator of the overall customer experience as it expresses dissatisfaction. We have based this measure on the NAIC National Complaint Index.
The Competition
| Company | Reviews.com Score | AM Best Financial Strength Rating | J.D. Power 2020 Score (On a 1,000-point scale) | NAIC Customer Complaints |
| Nationwide | 3.75 | A+ | 831 | Fewer complaints than average |
| State Farm | 3.75 | A++ | 836 | More complaints than average |
| Allstate | 4 | A+ | 841 | More complaints than average |
| USAA | 4 | A++ | N/A | More complaints than average |
| American Family | 3.75 | A | 840 | More complaints than average |
| Farmers | 3.5 | A | 839 | More complaints than average |
| Liberty Mutual | 3.25 | A | 825 | More complaints than average |
*All information accurate as of 9/29/20.
Nationwide vs. State Farm
Both Nationwide and State Farm are well-known insurance providers, so how do their rental insurance offerings compare? In terms of coverage, both companies offer standard rental insurance inclusions, such as personal property and liability, medical costs, and loss of use.
In general, State Farm’s renters insurance premiums are lower than Nationwide, but since renters insurance is already so affordable, this isn’t a huge deal. When it comes to deals, State Farm offers fewer discounts and bundled savings options than Nationwide.
Finally, State Farm outperformed Nationwide in customer satisfaction in the latest J.D. Power U.S. Home Insurance Study but only for a few points.
Nationwide vs. Allstate
Nationwide and Allstate share a few similarities in terms of their rental insurance offerings. With either company, you’ll get standard coverage for your personal property, liability, medical bills, and loss of use. Like Nationwide, Allstate also allows customers to add extra coverage for what they need.
Both companies are strong in terms of available discounts. Nationwide and Allstate offer multi-policy discounts, protective device discounts, and claims-free discounts. As a bonus, Allstate customers can also score discounts if they’re retired or when they sign up for autopay.
Lastly, Allstate beat Nationwide in customer satisfaction in this year’s J.D. Power Index. While Allstate ranked third, Nationwide was ninth of 13 companies listed.
The Bottom Line
Overall, Nationwide’s renters insurance offering is on par with other providers, albeit a bit more expensive. However, renters might be able to take advantage of one of Nationwide’s available discounts, including multi-policy and claims-free discounts.
Its coverage aligns with other providers, so you can expect typical inclusions like personal property and liability protection, medical coverage for yourself and guests, and loss of use.
While Nationwide’s customer satisfaction ratings could be better, they’re still a reputable provider of renters insurance. Getting a quote is pretty painless, so it’s worth taking a few minutes to see what you’d pay for a Nationwide renters insurance policy while shopping for your policy.
About the Authors
The Reviews.com staff is dedicated to providing you with all the deep-dive details. Our writers, researchers, and editors came together from Charlotte, Seattle, San Juan, Fort Worth, Fort Lauderdale, San Diego, and Chicago to put this review together.
