Nationwide Building Society has launched two new insurance products, Nationwide Home Insurance and Nationwide Home Insurance Essentials.

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

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% on contents and up to 10% on buildings, to a 20% discount when customers buy both new buildings and contents insurance together, to a 25% discount for buying online.”

Customers who use their Nationwide FlexAccount as their main¹ current account could enjoy a further discount of up to 10% on the premium quoted when they buy in branch or over the telephone.

Dyson added: “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% 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.”