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Nationwide Renters Insurance Review 2024
Adobe, Day Pitney LLP, Complex Media
Doug Sibor is a former insurance writer for NerdWallet. He holds a bachelor's degree in English and Classics from Colby College and an MBA in finance from Boston University. His work has appeared in The New York Times and The Washington Post.
Lead Writer | Home insurance, renters insurance, pet insurance
Sarah Schlichter is a NerdWallet authority on homeowners, renters and pet insurance. Prior to joining NerdWallet, she spent more than 15 years in digital media as a writer, editor and spokesperson. Sarah enjoys delving into complicated topics and helping readers understand the ins and outs of their insurance coverage. She lives in the Washington, D.C., metro area.
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Nationwide
4.5
Coverage optionsRatings are based on the number of coverage options a company offers in comparison to other insurers.
DiscountsRatings are based on the number of discounts a company offers in comparison to other insurers.
NAIC complaintsRatings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Pros
- User-friendly mobile app.
- Several additional coverage options.
- High rating for consumer satisfaction from J.D. Power.
Cons
- Unavailable in select states.
Nationwide
4.5
Coverage optionsRatings are based on the number of coverage options a company offers in comparison to other insurers.
DiscountsRatings are based on the number of discounts a company offers in comparison to other insurers.
NAIC complaintsRatings are based on complaints to state regulators relative to a company’s size, according to three years’ worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC.
Pros
- User-friendly mobile app.
- Several additional coverage options.
- High rating for consumer satisfaction from J.D. Power.
Cons
- Unavailable in select states.
About Nationwide renters insurance
4.5
NerdWallet ratingNationwide renters insurance earned 4.5 out of 5 stars for overall performance. 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.
Based on these considerations, Nationwide is among NerdWallet’s Best Renters Insurance Companies for 2024.
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.
Our writers and editors follow strict editorial guidelines that ensure fairness and accuracy in order to help you choose the financial products that work best for you. Here is a list of our partners and here’s how we make money.
Where Nationwide stands out
Mobile app. Nationwide’s highly rated app offers an easy way to manage your policy.
Customer satisfaction. Nationwide had one of the highest ratings for customer satisfaction in J.D. Power’s 2023 home insurance study.
Where Nationwide falls short
Availability in Alaska, Hawaii, Louisiana and Oklahoma. Renters in these states will need to seek coverage elsewhere.
Cost. Nationwide’s policies cost more than the national average, according to NerdWallet’s rate analysis.
State availability
Nationwide renters insurance is available in 46 states and Washington, D.C.
Nationwide renters insurance coverage
Landlords sometimes require tenants to purchase a policy with a minimum amount of renters liability insurance, but otherwise, the coverage you choose is generally up to you. Below are the four types of coverage included in most standard renters policies:
Type of coverage | What it does |
|---|---|
Covers your clothing, furniture, electronics and other belongings. | |
Pays for hotel stays, restaurant meals or other expenses if you have to live elsewhere while your home undergoes covered repairs. | |
Pays out if you're responsible for injuries to other people or damage to their property. | |
Covers injuries to other people in your home, regardless of fault. |
For more details, see What Does Renters Insurance Cover?
Beyond these standard types of coverage, Nationwide also includes the following in its basic policy:
Building additions and alterations, which pays for damage to elements of your home that you’ve updated or improved during your time there.
Credit card coverage, which pays you back for unauthorized financial transactions on your credit or debit card. It can also pay out if you’re the victim of forged checks or counterfeit money.
Nationwide offers several optional types of coverage, too:
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. Without this coverage, you’d get only the depreciated amount (known as actual cash value).
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 extra coverage for personal items in a motor vehicle, trailer or watercraft.
Earthquake insurance, paying for damage caused by an earthquake.
Identity theft protection, reimbursing up to $25,000 of covered expenses and connecting you with a network of cybersecurity experts.
Personal injury coverage, which extends the liability coverage on your policy to include lawsuits for things like slander or libel.
Coverage options may vary by state.
» MORE: Nationwide pet insurance review
Nationwide renters insurance rates
Nationwide renters insurance costs an average of $188 a year, or about $16 per month, according to NerdWallet’s rate analysis. This is more expensive than the U.S. average of $148 per year. See how Nationwide stacks up against other major insurers below.
Company | Average annual cost |
|---|---|
$115. | |
$168. | |
$188. | |
$203. | |
USAA* | $142. |
*USAA renters insurance is available only to active-duty military members, veterans and their families. | |
Discounts
Nationwide offers several discounts for renters insurance. You may be able to save by:
Bundling your renters insurance with another Nationwide policy, such as auto insurance.
Having protective devices such as fire alarms or smoke detectors in your home.
Going a certain period of time without filing any claims.
Living in a gated community.
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, bill payment and claims filing. It also has a broad range of educational articles about insurance.
App: The Nationwide app is available for iOS and Android. You can use it to file claims, pay bills and set up autopay.
Claims: You can file a claim online, through the mobile app or by calling Nationwide’s claims team at 800-421-3535. You can also contact your local agent. Once your claim is in progress, you can check its status online.
Customer service: Assistance is available through your local agent or by calling 877-669-6877. There’s also a chatbot on the Nationwide site that can help with simple questions.
» MORE: Nationwide home insurance review
Current Product
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NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. 4.5 /5 | NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. 4.0 /5 | NerdWallet rating NerdWallet's ratings are determined by our editorial team. The scoring formula incorporates discounts, coverage options, website transparency, financial strength, complaint data and more. 5.0 /5 |
Complaints to NAIC Ratings are based on complaints to state regulators relative to a company's size, according to three years' worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Close to expected | Complaints to NAIC Ratings are based on complaints to state regulators relative to a company's size, according to three years' worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. More than expected | Complaints to NAIC Ratings are based on complaints to state regulators relative to a company's size, according to three years' worth of data from the National Association of Insurance Commissioners. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Far fewer than expected |
Coverage Ratings are based on the types of coverage a company offers in comparison to other insurers. About average | Coverage Ratings are based on the types of coverage a company offers in comparison to other insurers. More than average | Coverage Ratings are based on the types of coverage a company offers in comparison to other insurers. More than average |
Discounts Ratings are based on the number of discounts a company offers in comparison to other insurers. Great set of discounts | Discounts Ratings are based on the number of discounts a company offers in comparison to other insurers. Great set of discounts | Discounts Ratings are based on the number of discounts a company offers in comparison to other insurers. Great set of discounts |
Bottom line Renters insurance coverage with a few useful add-ons. | Bottom line Straightforward policies from a tech-centric, mission-driven company. | Bottom line Strong coverage for active military, veterans and their families. |
Other renters insurance companies to consider
Not ready to make a decision? You may be interested in these other renters insurance companies:
Nationwide offers several other types of insurance, including homeowners, condo, motorcycle, boat and auto. Learn more in our Nationwide auto insurance review.
Yes, Nationwide offers a multipolicy discount for having both renters and auto insurance coverage.
The standard policy covers your belongings, personal liability, medical payments to others injured on your property, and additional living expenses if you have to stay elsewhere because of a covered incident. It also includes improvements made to your home since you’ve lived there and unauthorized transactions on your credit or bank card. Several optional add-ons are available as well.
Nationwide offers several other types of insurance, including homeowners, condo, motorcycle, boat and auto. Learn more in our
Nationwide auto insurance review
.
Yes, Nationwide offers a multipolicy discount for having both renters and auto insurance coverage.
The standard policy covers your belongings,
personal liability
, medical payments to others injured on your property, and additional living expenses if you have to stay elsewhere because of a covered incident. It also includes improvements made to your home since you’ve lived there and unauthorized transactions on your credit or bank card. Several optional add-ons are available as well.
Methodology
Renters insurance star 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 and online experience. 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 full renters insurance rating methodology.
Insurer complaints methodology
NerdWallet examined complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2021-2023. 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. NerdWallet conducts its data analysis and reaches conclusions independently and without the endorsement of the NAIC. Ratios are determined separately for auto, home (including renters and condo) and life insurance.
Renters insurance rates methodology
To find the average cost of renters insurance in the U.S., NerdWallet calculated the median rate for 30-year-old tenants from multiple insurance companies in every ZIP code across all 50 states and Washington, D.C. Sample tenants were nonsmokers with good credit and no recent claims, living in a two-bedroom apartment. They had a $500 deductible and the following coverage limits:
$30,000 in personal property coverage.
$100,000 in liability coverage.
$10,000 in additional living expenses coverage.
$1,000 in medical payments coverage.
We made minor changes to the sample policy in cases where rates for the above coverage limits or deductibles weren’t available.
We then compared the insurer's median rates to the median rates for other companies.
These are sample rates generated through Quadrant Information Services. Your own rates will be different.
In This Review . . .