New home insurance from Nationwide

Nationwide Building Society has launched two new insurance products – Nationwide Home Insurance and Nationwide Home Insurance Essentials. Customers buying the Society’s home insurance now have the flexibility to choose the level of cover and the premium cost that best suits their needs.

Both policies have been rated by Defaqto, the independent financial research company, with Nationwide Home Insurance achieving a 5 Star rating and Home Insurance Essentials a 3 Star rating.

For those people who want more comprehensive home insurance cover, there is 5 Star Home Insurance:

• Up to £100,000 contents cover and unlimited buildings cover
• Up to £5,000 for digital information, including music stored on iTunes
• Accidental damage cover included as standard
• Cover for accidental damage caused by pets included as standard
• Cover for matching sets and suites included as standard (for example, if a sofa was damaged and it couldn’t be replaced with a similar one, the sofa and any other chairs as part of the set would be replaced with new ones)
• Up to £6,000 for contents and plants in the garden
• Up to £5,000 of cover for personal possessions away from home (for example, mobile phones and jewellery)
• Up to £10,000 for student belongings
• Up to £2,000 for the loss of oil and metered water
• Additional benefits to Nationwide Home Insurance include:
• No additional accidental damage excess
• No extra charge for paying monthly by Direct Debit (0 per cent APR Representative)

For those who prefer to pay less for alternate levels of cover, Nationwide is now offering a 3 Star Home Insurance Essentials policy. It offers competitive cover levels, including:

• Up to £50,000 contents cover and up to £600,000 buildings cover
• Up to £500 for digital information, including music stored on iTunes
• Up to £500 for content and plants in the garden
• Up to £5,000 for student belongings

Martyn Dyson, Nationwide’s head of general insurance, said: “As people continue to feel the squeeze on their finances, home insurance can often be seen as something that can be discarded to cut costs. However, if money is tight, it can be even harder to replace items that are stolen or damaged, which is why having home insurance is crucial. The contents of people’s homes tend to be among the most valuable items they own and so they look for the best cover to protect them. But there are those who will be prepared to pay less for alternative levels of cover. We offer policies for both types of customer – a 5 Star option and a 3 Star option.”

With the new home insurance products, we have various discounts available to reward our customers’ loyalty. These range from a no claims discount of up to 35 per cent on contents and up to 10 per cent on buildings, to a 20 per cent discount when customers buy both new buildings and contents insurance together, to a 25 per cent discount for buying online.

Customers who use their Nationwide FlexAccount as their main current account could enjoy a further discount of up to 10 per cent on the premium quoted when they buy in branch or over the telephone. This continues Nationwide’s ongoing commitment to rewarding the loyalty of its main current account customers and complements the existing ‘Flexclusive’ benefits such as free travel insurance, select credit card and competitive savings and personal loans rates.

Martyn Dyson continued: “As always, we strive to give our customers the best possible home insurance so they can be assured they have bought a quality product they can rely on, at a great price. With the various discounts on offer, including the discount of up to 10 per cent available to those who use Nationwide’s FlexAccount as their main current account, our new products are really worth considering when people are searching for home insurance.”