Nationwide Renters Insurance Review 2022

Nationwide renters insurance covers more than just the basics.
Apr 27, 2022

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Nationwide renters insurance policies go beyond the basics. They include standard coverage options that many other companies' policies don’t, and Nationwide offers a consumer-first experience that lets you submit and track claims in its mobile app.

Best for: Those who want their basic coverage to include more than just the basics.

How we rate renters insurance companies

Our star ratings are based on consumer complaint data from the National Association of Insurance Commissioners; financial strength grades from AM Best; coverage and discounts available; and the overall consumer experience. See our criteria for evaluating renters insurance companies.

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Nationwide renters insurance pros and cons

Pros

Cons

Offers some coverage standard that other companies typically don't.

Coverage is limited or unavailable in some states.

User-friendly mobile app.

Many additional coverage options.

How Nationwide renters insurance rates

5.0

NerdWallet rating 

Nationwide renters insurance earned 5 out of 5 stars for overall performance. NerdWallet’s ratings are determined by our editorial team. The renters insurance scoring formula takes into account policy coverage options and discounts, ease of filing a claim, website transparency, the financial strength of the company, complaint data from the National Association of Insurance Commissioners and more.

Based on these considerations, Nationwide is among NerdWallet’s Best Renters Insurance Companies for 2022.

State availability

Nationwide renters insurance is available in 46 states and Washington, D.C.

Limited coverage is available in Florida, New Mexico and New Jersey.

Nationwide renters insurance coverage

Basic coverage

Nationwide includes the four standard forms of renters insurance coverage in all policies: property, loss of use, personal liability and medical payments to others. Additionally, it offers two types of coverage as part of its basic policy that many other insurers do not:

  • Building additions and alterations, which pays for damage to elements of your home that have been updated or improved during your time there.

  • Credit card coverage, which pays you back — up to an amount you choose — for unauthorized financial transactions on your credit or debit card, or if you’re the victim of forged checks or counterfeit money.

Optional coverage

Nationwide also offers several optional types of coverage:

  • Brand-new belongings, which pays you back for damaged or stolen items in two steps. You get the depreciated value of the item first; then, after you repair or replace it, Nationwide pays you the difference.

  • Valuables plus, providing additional coverage for big-ticket items like jewelry or art.

  • Water backup, covering damage from backed-up sewers or drains.

  • Theft extension, offering additional coverage for personal items in a motor vehicle, trailer or watercraft.

  • Earthquake, paying for damage caused by an earthquake.

  • Identity theft protection, reimbursing $25,000 of covered expenses and providing access to cyber risk specialists.

Discounts

Nationwide offers the standard discounts for renters insurance. Those include:

  • Multipolicy discount for bundling your renters insurance with another Nationwide policy, such as auto insurance.

  • Protective devices discount for homes with fire alarms, smoke detectors and more.

  • Claims-free discount if you haven’t filed any recent claims.

Consumer complaints

Nationwide had close to the expected number of home insurance complaints to state regulators relative to its size, according to three years’ worth of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints also cover other home policy types, including mobile home, renters and condo insurance.)

Consumer experience

Website: Nationwide’s website offers online quotes for the states in which renters policies are available. You can also submit and track claims and read a broad selection of educational content.

App: The Nationwide app is available for iOS and Android. It allows users to submit and track claims, as well as manage payments for their policies.

Renters insurance buying guide

Before you compare renters insurance companies, gather key information such as the address of the rental and any safety and security features the unit has.

You should also figure out how much coverage you need. Take a quick inventory of your belongings: How much would it cost you to replace them? Include all furniture, electronic devices, clothing, jewelry and household items. This total is the minimum amount of personal property insurance you should have.

Your liability limit should be high enough to cover your net worth, while your deductible should be an amount you’d feel comfortable paying in an emergency.

When evaluating renters insurance quotes, make sure each rate estimate includes the same coverage limits and deductibles so you know you’re getting a fair comparison. While it’s tempting to buy the cheapest policy, you may also want to read reviews of your preferred company to make sure it offers good customer service.

How to file a renters insurance claim

File as soon as it’s safe. The sooner you report a theft or damage to your home, the sooner your insurer can assign an adjuster and start working on paying out your claim. Some companies let you file claims online or through their app, while in other cases you may have to call your agent or insurer instead. Have your policy number handy.

Document the damage. Bolster your claim by taking photos or video of all damage. If something was stolen, report it to the police before you contact your insurance company. Your insurer may ask for a copy of their report.

Prevent further damage. After you’ve taken pictures of everything broken or destroyed, take steps to prevent additional damage, such as putting a tarp over a broken window to protect your belongings inside. Keep receipts for any supplies you buy, as your insurer may reimburse you later.

Other renters insurance companies to consider

Not ready to make a decision? You may be interested in these other renters insurance companies:

Frequently asked questions
What other types of insurance does Nationwide offer?

Nationwide offers several other types of insurance, including but not limited to:

  • Homeowners and condo.

  • Auto and motorcycle.

  • Boat and personal watercraft.

Can you bundle Nationwide auto and renters insurance?

Yes, Nationwide offers a multipolicy discount for having both renters and auto insurance coverage.

How do you file a Nationwide renters insurance claim?

You can file a claim by calling Nationwide’s claims team, submitting information through Nationwide’s website or using the mobile app.

What does Nationwide renters insurance cover?

The standard policy covers your stuff, personal liability, medical payments to others injured on your property, additional living expenses if you have to stay elsewhere because of a covered incident, improvements made to your home since you’ve lived there, and a limited number of unauthorized transactions on your credit or bank card. Several optional add-ons are also available.

Methodology

Renters insurance ratings methodology

NerdWallet’s renters insurance ratings reward companies for customer-first features and practices. Ratings are based on weighted averages of scores in several categories, including financial strength, consumer complaints, coverage options, discounts, online experience and more. Our “ease of use” category looks at factors such as website transparency and how easy it is to file a claim. These ratings are a guide, but we encourage you to shop around and compare several insurance quotes to find the best rate for you. NerdWallet does not receive compensation for any reviews. Read our editorial guidelines.

Insurer complaints methodology

NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2018-2020. To assess how insurers compare to one another, the NAIC calculates a complaint index each year for each subsidiary, measuring its share of total complaints relative to its size, or share of total premiums in the industry. To evaluate a company’s complaint history, NerdWallet calculated a similar index for each insurer, weighted by market shares of each subsidiary, over the three-year period. Ratios are determined separately for auto, home (including renters and condo) and life insurance.

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