Pros / Nationwide's policy is the most customizable of those we evaluated.
Cons / The renters insurance premiums are extremely high in some areas, such as Detroit.
Verdict / Nationwide provided us excellent customer service in the quote process, with an easy and customizable online quote system. While its rates were overall average, they can be surprisingly high for some areas. It's a good rental insurance to consider, but you should compare its prices with other insurance plans.
Nationwide provides a wide range of insurances, including renters insurance. The quote process, accounts and claims procedures all run similar to those of the other insurance plans it provides, with the same high quality. Overall, the premiums were within average for the renters insurance policies we reviewed, but we found some exceptions to price and value. Therefore, it's a company worth pricing.
We obtained quotes for Nationwide in nine cities across the United States. In general, Nationwide's premiums were average or below average. However, the premiums for Detroit were nearly two and a half times higher than the average for that area. Detroit is one of the most dangerous places to live in the United States, with a high risk for crime and arson. However, we obtained quotes for Nationwide renters policies in three other high-crime cities, and those premiums were cheaper than average. Thus, you shouldn't rule out Nationwide just because you live in a high-crime area.
Nationwide has stricter limits on what it pays out for high-ticket items. For example, while most insurance agencies will reimburse you $1,000 to $5,000 for lost or stolen jewelry, firearms, or silverware, Nationwide sets its limits at $500. This can be an issue if you have expensive items.
Nonetheless, you can up your coverage for high-ticket items and many other things, including cash and securities. Nationwide had the most customizable quote process of all the insurances we reviewed, allowing you to set limits for a multitude of specialized items. You can also add sewer backup, volcano and earthquake coverage. You can choose to have your belongings insured to brand new status, meaning that if something is damaged or stolen, it will pay you to replace the item with a similar quality new item. This is becoming a standard option for most insurance plans.
This insurance policy also covers your building and additions. Thus if there is damage to your exterior hallway or the car shed that comes with your rental property, Nationwide will reimburse you to a designated limit.
The agents we spoke to were knowledgeable and responsive. The online quote process was especially thorough, and agents answered our questions quickly. Nationwide does not provide insurance in some parts of Texas directly, but will help you get insurance through an affiliate.
Although the premiums for Detroit were unusually high, the overall prices for Nationwide renters insurance were at or below the average. Its coverage limits for high-ticket items are low by default but are easy to increase. We found the quote process to be smooth. This renters insurance company is worth checking out, but if you live in a high-risk area, be sure to get quotes from other companies and compare them.