Nationwide vs. Travelers: Home Insurance Comparison

Nationwide and Travelers both have excellent ratings for both affordability and financial stability. Nationwide offers lower rates and better customer service, while Travelers is the more financially stable insurer.

Nationwide has an average annual premium of $1,917 for homeowners insurance, while Travelers charges roughly $2,119 annually. It’s not all about the price, however. You should not overlook other factors such as availability, additional coverages and discounts.

For instance, Nationwide has two more optional coverages for homeowners who want extra protection. In addition to being less expensive overall, Nationwide also provides more discounts.

Read MoneyGeek's detailed comparison of Nationwide vs. Travelers homeowners insurance policies to learn more about these two companies.

According to our findings, Nationwide has a slight advantage over Travelers, as evidenced by their overall MoneyGeek rankings. Travelers is more financially secure, but Nationwide wins in terms of pricing and customer satisfaction.

Nationwide also provides more possibilities for add-on coverages and discounts. To help you compare Nationwide and Travelers homeowners insurance, MoneyGeek listed both companies' essential features and scores in the table below.

MoneyGeek reviewed quotes from both companies and concluded that Nationwide has a cheaper average baseline premium at $1,917 per year, compared to Travelers with $2,119.

But it's important to remember that these rates reflect the approximate cost of home insurance and that your actual rate may vary depending on a wide range of personal and financial factors. These include your credit score, home location and projected house repair cost.

The cost of a homeowners insurance policy is determined by a number of factors that insurers consider. The two biggest factors are the amount of dwelling coverage you choose and the location of your home.

To be adequately protected financially, the amount of dwelling coverage you choose should be a fair approximation of the full expense associated with fixing or rebuilding your house.

You can choose from a variety of home coverage levels based on the value of your home. Across all levels of dwelling coverage that we examined, Nationwide is consistently the more affordable option between the two.

The cost of homeowners insurance also varies by state. For instance, Nationwide charges $3,099 in Maryland, the most expensive state for its coverage. By contrast, Travelers charges an average of just $1,390 in Maryland. So, even though Nationwide is usually the cheaper insurer, that isn’t always the case in all states. On the other hand, Travelers charges around $8,742 in South Carolina, while Nationwide has an average rate of just $2,747 in this state.

Find the cost of Nationwide and Travelers homeowners insurance in your state using the table below.

A company's customer service reputation is as important as its pricing. Keep in mind that receiving timely and effective service can make a significant difference when filing and handling a claim.

Our research revealed that Nationwide slightly outperforms Travelers in terms of overall service quality. Travelers has a better track record for financial stability, while Nationwide typically offers lower premiums.

Typical homeowners insurance covers liability, personal property and the home itself. If you want more security, you can add optional coverages.

With eight add-ons available, Nationwide offers a greater selection of coverages than Travelers, which only offers six. Both companies offer all common coverages.

Compared to Travelers, Nationwide has three more coverages that can prevent out-of-pocket expenses for costly repairs. Building ordinance coverage pays the cost of rebuilding your house according to current construction codes after a covered loss. Better roof replacement helps replace your roof with stronger and safer roofing materials. Lastly, earthquake coverage offers extra protection from earthquake damage (with a separate deductible).

Travelers, on the other hand, offers energy efficiency upgrade coverage, which can help cover the expenses to repair, replace or rebuild your home using green materials when a covered loss occurs.

Remember that MoneyGeek obtained this data from the providers’ websites, so the published coverages may not contain all available options.

Insurance premiums can be lowered by taking advantage of available discounts. With eight discounts to Travelers’ five, Nationwide comes out on top in this category. Except for the green home discount, Nationwide offers all the discounts that Travelers does.

Nationwide offers most of the common discounts for home insurance, although it does not provide a new home discount. It provides four discounts that Travelers does not: discounts for roofing materials, continuously insured policies, gated communities and home renovations.

Travelers’ only discount that Nationwide doesn’t offer is the green home discount. If your house has previously received the Leadership Energy and Environmental Design (LEED) "green home" certification, you could save up to 5% on your premiums.

Nationwide and Travelers may provide more extensive selections of discounts than they list on their websites, so check with each insurer to see what’s available in your area.

If you're still unsure about which insurer to pick, MoneyGeek invites you to look through our suggestions for the best homeowners insurance providers, which include the most recent pricing information.

The cost of repairing your home is the most crucial factor influencing the overall cost of homeowners insurance. The MoneyGeek homeowners insurance calculator can help you roughly estimate your premium in just a few clicks.