New Home Insurance From Nationwide

Society launches new 5 Star and 3 Star Defaqto rated home insurance products

18 June 2012

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.

5 Star Defaqto rated Home Insurance
For those people who want more comprehensive home insurance cover, there is 5 Star Home Insurance, which offers some of the best cover in the market, including:

  • 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% APR Representative)

3 Star Defaqto rated Home Insurance Essentials
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

The products are available online at, on and, by calling 0800 30 20 10 or by visiting any Nationwide branch. The new products are replacing Nationwide’s existing home insurance offer.

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 main¹ 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 continues: “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.”

Notes to editors:

  • Nationwide Home Insurance and Home Insurance Essentials are underwritten and administered by U K Insurance Limited, part of Direct Line Insurance Group plc.
  • Full terms, conditions and exclusions apply and are available on request.

¹ To qualify as a main FlexAccount holder, you have to hold a FlexAccount with a Visa debit card (not a cash card+) and:

  • Pay in £750 or more each month (excluding internal transfers) for the last 3 months, or:
  • Agree to complete an Account Transfer from an account (non Nationwide) using our Account Transfer Service or have done so in the past four months.

Example features of Nationwide Home Insurance and Home Insurance Essentials

Product 3 Star Home Insurance Essentials 5 Star Home Insurance





Student Belongings

£5,000 £10,000

Matching items



Loss of Oil



Loss of Water

Digital information


Contents in the Garden



Plants in the Garden

Contents - Accidental Damage



Accidental Damage by Pet(s)

not covered


Away from Home Cover




Blanket Cover



Trace and Access



Burst Pipes


Accidental Damage caused by Pets

no standard

Matching items

Buildings - Accidental Damage


Glass Breakage

if AD selected

Underground Services

Blockage of Sewer Pipe

Competitor comparison versus selected Nationwide 5 Star Home Insurance cover levels

Provider Product Defaqto Star Rating Personal Possessions as Standard Contents in the Garden Accidental Damage by Pets Matching Sets and Suites
Nationwide Building Society 5 Star Home Insurance 5 Yes £6,000 Yes Yes
Halifax Home Solutions 5 No £1,000 No No
Lloyds TSB Home Solutions 5 No £1,000 No No
Santander Peace of Mind Plus (up to 5 beds) 5 No £1,000 No No

Source: Defaqto, May 2012
This table is not a fully comprehensive comparison of features and benefits

About Nationwide Building Society
Nationwide is the world's largest building society as well as one of the largest savings providers and a top-three provider of mortgages in the UK. It is also a major provider of current accounts, credit cards, ISAs and personal loans. Nationwide has around 15 million members.

Since the credit crunch began in 2007, Nationwide has remained profitable against a very difficult economic environment. In the full year ending April 2012, Nationwide made a strong underlying profit of £304 million – up 10% from the previous year.

Customers can manage their finances in branch, on the telephone, internet and post. The Society has around 16,000 employees. Nationwide's head office is in Swindon with administration centres based in Northampton, Bournemouth and Dunfermline. The Society also has a number of call centres across the UK.

Direct Line Insurance Group plc

Direct Line Insurance Group plc (Direct Line Group) is headquartered in Bromley, Kent; it has operations in the UK, Germany and Italy.

Through its number of well known brands Direct Line Group offers a wide range of general insurance products to consumers. These brands include; Direct Line, Churchill and Privilege. It also offers insurance services for third party brands through its Partnerships division. In the commercial sector, its NIG and Direct Line for Business operations provide insurance products for businesses via brokers or direct respectively.

Please note: If you are a customer looking for information on our products and services, please visit the main website.