Nationwide Building Society today launched a new home insurance product with enhanced cover as standard. Customers purchasing the product could save more than £100* when they choose Nationwide’s home insurance as opposed to cover from an alternative provider. Nationwide will also provide a 15% discount on any combined buildings and contents insurance purchased together.

Key features of Nationwide’s home insurance include:

• Unlimited buildings cover for standard properties
• One month money-back guarantee
• 10% discount when purchasing Nationwide’s home insurance online
• No charge for paying monthly
• Cover for MP3 players and music downloads
• Cover for students belongings while at university or college
• Up to £1000 cover for contents in your garden
• Additional features are detailed under notes to editors
• Nationwide also offers a range of optional extras for those customers wishing to tailor their home insurance to suit their individual needs:
• 24 hour Home Emergency Assistance for only £4 a month
• Up to £50,000 Legal Assistance for just £1.25 per month

Nationwide’s insurance director, Robin Bailey, says: “We’ve thought long and hard about what customers want and we are delighted to be able to provide a highly competitive and comprehensive home insurance offering. The new product has some really modern features to reflect the changing needs of property owners in the UK. MP3 downloads and garden contents are the type of cover features required by today’s homeowner.

“Our new home insurance provides better cover as standard and we are so confident with this that we are offering a one month money-back guarantee if customers are not satisfied.”

A family of four living in a four bedroom detached house in Cradley Heath, Birmingham could save up to £136(i) when they choose Nationwide’s home insurance over other leading providers when paying monthly. A young couple living in a three bedroom terraced house in Canterbury could save as much as £133(ii) with Nationwide. Alternatively, an older couple living in a four bedroom bungalow in Edinburgh could save £80(iii) when they choose Nationwide.

REFERENCE

*Based on a young couple living in a three bedroom terraced house in Canterbury, Nationwide premium of £261 compared to the equivalent premium provided by Lloyds TSB of £394 (Source: provider website, July 2006)

(i) Based on B64 7JS and a Nationwide premium of £254 and the equivalent premium provided by Prudential of £390 (Source: provider website, July 2006)

(ii) Based on CT11 9BL and a Nationwide premium of £261 and the equivalent premium provided by Lloyds TSB of £394 (Source: provider website, July 2006)

(iii) Based on EH12 8UQ and a Nationwide premium of £187 and the equivalent premium provided by Abbey of £267 (Source: provider website, July 2006)