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Before its name change to Nationwide in 1970, the now instantly recognisable building society first appeared in London in 1884 as the Co-Operative Permanent Building Society. Rather than paying rent, the building society offered a chance for the community to group their savings in order to buy their own homes.
Since first appearing in 1884, Nationwide has continued to grow, merging with around 250 other building societies. It now has more than 16 million members in the UK, making it the world’s biggest building society.
Nationwide’s buildings, contents, and combined buildings and contents insurance e is underwritten by Royal & Sun Alliance Insurance ltd.
Nationwide offers three types of home insurance: –
These types are split across two different policy types; with one level of cover for buildings insurance, and two policy choices for contents insurance: Contents up to £50,000 or Contents over £50,000.
The table below highlights what each of Nationwide’s policies cover.
|Policy||Policy Type||Buildings maximum sum insured||Contents maximum sum insured|
|Nationwide buildings insurance||Buildings||Unlimited||N/A|
|Nationwide contents up to £50,000||Contents||N/A||£50,000|
|Nationwide contents over £50,000||Contents||N/A||Unlimited|
Nationwide buildings insurance includes unlimited cover for the cost of repairing or rebuilding your home if it becomes damaged. This includes damage because of a fire, storm, or flood.
The table below shows the breakdown of what is included with Nationwide’s buildings insurance policy:
|Cover (subject to restrictions/exclusions)||Amount|
|Rebuilding or repairing of your home as a result of fire, storm, flood, or other damage.||Unlimited|
|Alternative accommodation if your home gets damaged and is unfit to live in. Includes kennel fees.||£50,000|
|Escape of water||Unlimited|
|Lost or stolen keys||£750|
|Trace and access to the source of a leak for escape of water or oil||£5,000|
|Owner’s liability||Up to £2 million|
Nationwide offers two different kinds of contents insurance: Contents up to £50,000 or Contents over £50,000.
To help decide which is right for you, the table below provides a comparison of both levels of cover:
|Cover||Contents up to £50,000||Contents over £50,000|
|Total valuables in your home*||£15,000||£30,000|
|Alternative accommodation if damage to your contents makes your home unfit to live in. Also covers storage of contents||£15,000||£30,000|
|Theft from outbuildings||£2,500||£5,000|
|Family and student cover for family or dependents studying or staying in hospital anywhere within the British Isles.||Student – £5,000. Dependent relative – £5,000||Student – £10,000. Dependent relative – £5,000|
|Personal Liability||£2 million||£5 million|
|Temporary removal of contents from your home to any location within the British Isles||£5,000||£10,000|
|Household removal for damage to your contents when you move, including damage caused by a professional removal firm.||£50,000||Unlimited|
|Fridge and freezer food||£750||£1,000|
|Money in your home||£750||£1,000|
|Lost or stolen house keys||£750||£1,000|
|Loss of oil or metered water||£1,000||£1,000|
In addition to what is included with their buildings and contents policies, Nationwide also offers a range of optional extras. These can be bolted on to either your buildings, contents, or combined buildings and contents policy to further customise your home insurance to suit your personal needs. Be aware, however, that an optional extra you choose will increase the cost of your monthly or annual premiums.
Provides cover to the contents of your home should they be damaged accidentally. This includes spilling red wine on a new white carpet, or accidentally knocking over the TV.
If Nationwide are unable to repair or replace a damaged item from a set, they’ll pay to replace the entire set it belongs to. For example, an armchair that belongs to a three-piece suite.
This cover builds onto the existing £750 garden cover as standard to add a further £5,000 for loss or damage to the contents in your garden. This then includes trees, shrubs, plants, lawns, and tools. Also covers re-landscaping design fees.
Provides cover for the personal possessions you take outside your home, such as your phone, laptop, and watch, anywhere within the British Isles and for up to 90 days worldwide. Also has additional options to add between £2,500 and £15,000 of cover for everyday items you take outside the home.
Provides cover for your bicycles (including electric bicycles, tricycles, unicycles, and cycling accessories) anywhere within the British Isles and for up to 90 days around the world.
Nationwide uses a company called CET, who will send out a recommended tradesman to make emergency repairs to your home up to £500. Tradesmen are available 24 hours a day, 365 days a year.
Covers legal expenses up to £50,000 for things such as injuries, employment issues, or boundary disputes. Nationwide’s legal cover is provided by Arc Legal Assistance and is administered by Lyons Davidson.
For their home insurance policies, Nationwide has the minimum compulsory excess for claims made on the following: –
For voluntary excess, Nationwide let you choose your excess, anywhere between £50 and £500, in £50 increments.
The purpose of voluntary excess is that the more you can contribute towards a claim, the less your premiums will be.
Some home insurance providers will offer an incentive to policyholders whereby if no claim is made for 12 months, a discount on premium will be offered the following year at renewal.
This is known as a ‘no claims discount’ (also known as a no claims bonus) and can accumulate for every year a claim isn’t made, typically for up to five years.
Nationwide does not mention whether it offers a no claims bonus on its home insurance, but they do offer discounts in other ways.
If you happen to be a member with Nationwide who has a current account, savings account, or mortgage with the building society, you’ll receive a 25% discount on your home insurance.
As of 2023, Nationwide was rated five stars by Defaqto for both its buildings and contents home insurance policies.
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