If you’re renting an apartment and have never found yourself in a situation of loss in your home, you may not think you need renters insurance. But those who have experienced something like a break-in or fire know its importance.

If a disaster strikes your apartment, such as a hurricane or a fire, your landlord’s insurance will cover the structure of the building in case of damage, but any of your personal property — your laptop, TV, furniture, clothes, etc. — will not be covered unless you have a renter's insurance policy.

So if you live in a rented apartment, condo, home or another rental property, it's a good idea to protect yourself, your space and your personal items. Some landlords even require you to have a certain amount of renters insurance as part of your lease agreement. This is so because a landlord's policy won't cover your belongings in case they're stolen or damaged. It only covers the building you live in, but not your personal belongings. Plus, if someone gets injured in your home, liability coverage will protect you, but only if you have a renters policy.

Even though you may not think of it as such, a renters insurance policy is just as important as an auto insurance policy. When it comes to high-value items that you can't easily replace, you want to do what you can to keep them safe in the even of any damage, like a natural disaster. You can also get additional coverages to protect your items in the event of theft, or vandalism.

You can even get renters insurance discounts to help you save money on the policy. Depending on the company you choose to shop with, you could get discounts for having safety features in your home, like smoke detectors, or alarm systems. If you are worried about the cost of renters insurance, you can talk to your provider to help secure yourself a good rate with discounts. The average cost of a renter's insurance policy depends on the state that you live in, but renters policies offer affordable peace of mind.

There are many renters insurance providers to choose from. It’s possible your car insurance company offers it and will allow you to add it to your policy for a few extra dollars a month. It may even pay for itself with a multi-policy discount. Nationwide is one of the many companies that offers renters insurance.

What is Nationwide renters insurance?

In addition to covering your personal belongings, Nationwide renters insurance coverage covers you for personal liability, medical expenses if someone is injured on your property, additional living expenses if you cannot live in your home because of damages covered under your renters insurance policy (known as loss of use), credit card coverage for unauthorized transactions and damage to building additions and alterations you made.

Nationwide has a unique optional feature for renters policyholders called “Brand New Belongings”. With this feature, Nationwide gives you money for the depreciated value of your lost items that are covered under your policy. Then after you purchase the new item or make repairs to your damaged one, you can send Nationwide your receipt, and it will pay the difference in cost.

Nationwide renters insurance also has many coverage options you can add onto a basic policy, including “Valuable Plus” to cover expensive items, such as jewelry or antiques. Another optional coverage is “theft extension” to cover items you store in your car, boat or trailer. Nationwide’s water backup coverage protects you from losses from backed up sewers or drains. Additionally, if you live in an area at-risk of earthquakes, Nationwide has optional earthquake coverage. To learn more about Nationwide renters insurance, visit the Nationwide website.

While Nationwide renters insurance is generally considered affordable, the cost depends on the amount and type of coverage you select and your deductible amount.

One reviewer compared Nationwide renters insurance to another expense, showing it’s affordability by saying, “I highly recommend rental insurance to anyone who rents a home or apartment! Our large three bedroom, two bath condo and belongings are insured for about $140 per year -- the same price as Netflix!”

What do Clearsurance users say about Nationwide renters insurance?

As of December 2020, Nationwide renters insurance has a Clearsurance score of 4.08. (For the most up-to-date rankings, visit our renters insurance rankings).

One of the most important aspects of a renters insurance company is how it handles claims. Does the company appropriately pay out claims in a reasonable amount of time? Less than 2 percent of Nationwide renters insurance reviews on Clearsurance discussed a claims dispute. This suggests that consumers are generally happy with how Nationwide renters insurance handles claims.

One user explained, “I've had two separate incidents (one fire and one flood) ... both times I had an adjuster contact me within hours and make sure I had safe housing and paid claims very fast. I will never leave Nationwide.”

How can Nationwide renters insurance help you?

Losses in your apartment can be unpredictable and hard to recover from, which is why renters insurance is so important. Renters insurance can give you peace of mind that if something happens, you’ll be able to recover because your policy will cover the cost of your belongings. On Clearsurance, Nationwide renters insurance customers have shared some reasons they were glad they had a policy.

One reviewer said, “The pipes in my apt burst and ruined my furniture, food and clothing. I was out of town for a few days and bad no idea what had happened. Upon returning home I was shocked to see what had happened. Food was soaked and my clothes were waterlogged and had a very bad smell due to the water. I called my insurance agent and she came over to file a claim. Within a few days I was given a check to replace food and most importantly my clothing. Nationwide is an awesome company. I would recommend them to anyone.”

Another reviewer said, “I don't have any complaints about Nationwide. Their service is great, and I didn't ever really feel like I was over paying on my renters insurance at any time during my time with them. If you have the option, pick nation wide renters insurance over the other guys, they know what they're doing! I did have to file a claim with them one time when my apartment was broken into and my Xbox was stolen among other things. They compensated me completely and it didn't affect my rates or insurance. Reccomend these guys to anyone who has had to go through terrible renters insurance before.”

You can read additional Nationwide renters insurance reviews here. Do you have a renters insurance policy and have an experience you want to share with other consumers? Write a review to help other consumers decide which insurance company to purchase a policy from. Be sure to check out Clearsurance's rankings page for the best renters insurance in your area.

The content on this site is offered only as a public service to the web community and does not constitute solicitation or provision of legal advice. This site should not be used as a substitute for obtaining legal advice from an insurance company or an attorney licensed or authorized to practice in your jurisdiction. You should always consult a suitably qualified attorney regarding any specific legal problem or matter. The comments and opinions expressed on this site are of the individual author and may not reflect the opinions of the insurance company or any individual attorney.