While your landlord purchases a homeowners insurance policy that covers the building you live in, it’s important to note that their insurance coverage doesn’t insure your personal belongings. Ultimately, that’s why many tenants purchase renter’s insurance. With this type of policy, you can insure your personal belongings against damage or theft. Even better, renters insurance tends to be a lot less expensive than people think.
If you’re in the market for a renter’s insurance policy, make sure to keep Nationwide in mind. While this insurer is mostly known for their auto insurance, homeowner’s insurance, and life insurance offerings, they also offer high-quality renter’s insurance for prices most people can afford.
Nationwide Renters Insurance: Key Takeaways
- Apply for a free quote online or over the phone.
- Cover personal belongings such as your clothing, furniture, jewelry, electronics and more.
- Qualify for special discounts for having multiple policies, installing a protective device, or being claim-free.
- File your claims online or over the phone.
Nationwide Renters Insurance Review
If you want to protect the items you own while you rent a home, buying renters insurance is a smart idea. This type of coverage can replace expensive items you own that would be difficult to replace in the event of a fire or weather event.
Nationwide’s renters policies cover the contents of your rented home or apartment and they can even provide coverage for loss of use — or the out-of-pocket expenses you’ll encounter as you find another place to live. You can also get coverage for personal liability, medical payments to others, building additions and alterations, and credit card coverage that pays for unauthorized charges made to your card.
On top of the basic coverage Nationwide offers in their renters insurance policies, you can also choose from optional add-ons, including:
- Valuables Plus: Buy more coverage that kicks in to replace pricey jewelry, expensive art, antiques, and other valuables you own.
- Theft Extension: This coverage extends your protection to belongings you may have stored in or on any motor vehicle, trailer or watercraft.
- Earthquake: This coverage kicks in to cover part of your losses in the event of an earthquake or volcano.
- Water Backup: This add-on coverage protects you against damage caused by backed up sewers or drains.
One big benefit of buying renter’s insurance from Nationwide is that they let you apply for a quote and get your insurance policy started online. And if a claim is required, you also have the option to upload documents and file a claim on your renters insurance policy via the Nationwide website.
While Nationwide renters insurance policies are very affordable overall, keep in mind that some of the choices you make can help you reduce the cost of your policy. For example, you can tailor your policy to include lower coverage limits for personal property or liability, and you can steer clear of buying any add-on coverage.
How to Get a Quote for Nationwide Renters Insurance
If you’re thinking renters insurance is a good idea, you can start by getting a free quote for a policy online. Information you’ll need to share in order to get a quote on the Nationwide website includes:
- Your name
- Phone number
- Housing information
- Level of desired coverage
- Any protective devices you have
- Number of residents in your household
As you submit all the information they ask for, you’ll have the option to tweak your policy details to suit your needs. You can ask for more or less of any type of coverage, add on additional types of coverage for theft or water backup, and more. You can even opt for Nationwide Protection Boost, a policy booster product that increases some limits of liability.
Nationwide Renters Insurance Discounts
While renter’s insurance is typically not very expensive, you can reduce the cost of your policy even further if you qualify for special discounts. Nationwide offers the following discounts you can apply to your insurance policy for the best deal.
- Multi-policy discount: Save money on renters insurance by bundling other insurance policies you have with Nationwide Insurance. For example, you could bundle your renters insurance with an auto insurance policy.
- Protective device discount: Receive a discount on your policy if you have a protective device such as a home alarm system, a fire alarm, smoke detectors, and more.
- Claims-free discount: Save even more on your renter’s insurance policy if you haven’t filed a renter’s insurance claim in the past.
How We Rate Nationwide Renters Insurance
At The Simple Dollar, we aim to provide a general overview of each insurer’s products and services through a standard rating process. With that in mind, we considered policy offerings and overall customer satisfaction using J.D. Power’s 2018 U.S. Renter’s Insurance Study. We also measured financial solvency based on reports from A.M. Best, S&P, and Moody’s.
After a thorough research and discovery period, here’s how Nationwide Renters Insurance Insurance stacks up:
|Nationwide Renters Insurance at a Glance|
The Bottom Line
If you’re in the market for renters insurance, you have nothing to lose by getting a free quote from Nationwide. Applying for a free quote online is a breeze, and you don’t have to list private information like your Social Security number, either. You can simply get a free quote without any obligation, then decide later if the policy details meet your needs.
With that being said, you should compare pricing with at least three insurance companies before you settle on a new renters insurance policy. This step is key since different policies may offer different levels of coverage or your choice of add-ons, and since pricing can vary quite a bit.
Make sure to do your due diligence, then purchase a renter’s insurance policy today — before you need it.
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