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Nationwide vs State Farm: Mortgage Protection Insurance Comparison

An in-depth comparison to help you choose the right mortgage protection insurance carrier.

At a Glance

Feature Nationwide State Farm
Financial Strength A+ (AM Best) A++ (AM Best)
Bundling Discounts Available Excellent
Agent Network Nationwide Extensive
Policy Flexibility Good Moderate
Max Coverage $1,000,000 $5,000,000
Online Tools Good Limited
Coverage Range $50,000 - $1,000,000 $25,000 - $5,000,000
Premium Range $25 - $200/mo $20 - $300/mo

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Compare rates from top mortgage protection insurance carriers.

No medical exam required Coverage in as little as 24 hours Rates from $20/month

Nationwide Overview

AM Best Rating: A+ | Founded: 1926 | Headquarters: Columbus, OH

Coverage: $50,000 - $1,000,000 | Premiums: $25 - $200/mo

Pros

  • Strong financial rating
  • Comprehensive coverage options
  • Good claims history
  • Flexible policies

Cons

  • Higher premiums
  • Must use Nationwide agents
  • Complex applications

Best For: Homeowners wanting comprehensive mortgage protection from a top-rated carrier.

State Farm Overview

AM Best Rating: A++ | Founded: 1922 | Headquarters: Bloomington, IL

Coverage: $25,000 - $5,000,000 | Premiums: $20 - $300/mo

Pros

  • Top AM Best rating
  • Bundling with home insurance
  • Local agents everywhere
  • Trusted brand

Cons

  • Captive agents only
  • Limited online options
  • Less flexible

Best For: Those who already have State Farm home insurance and want to bundle.

Our Verdict

State Farm offers the slight edge with their superior financial rating and bundling discounts for existing customers. Nationwide provides more flexible policy options.

Get Your Free Mortgage Protection Quote

Compare rates from top mortgage protection insurance carriers.

No medical exam required Coverage in as little as 24 hours Rates from $20/month