Nationwide rolls out new package insuring those working from home

Mark Williams
The Columbus Dispatch
Nationwide has introduced a new package of coverage for those who work from home.

Nationwide has introduced a new package of coverage geared for those who are spending a lot more time at home these days.

It's called Work From Home Insurance, a package that combines auto coverage with a home or renters policy and identity theft coverage. Nationwide says it may add pet coverage and other types of insurance to the package.

The auto coverage is meant to provide savings for drivers whose cars are more likely to remain parked in the driveway these days. These are drivers who could benefit from a policy that prices coverage based on the number of miles driven.

Nationwide has said usage-based coverage can save drivers an automatic 10% when they sign up and can be as much as 40%. Beyond that, the coverage gives drivers feedback on how well they drive.

Even though workers are heading back to the office, Nationwide said it believes remote workers will become a permanent fixture in today's workforce.

Nationwide said 20 million people are working from home, and that number is expected to grow to 36 million in coming years.

“The time is right for people who work from home to revisit their current insurance protections to make sure they have coverage that fits their unique needs — and aren’t overpaying for it," said Chetan Kandhari, Nationwide’s chief innovation and digital officer. 

For example, a Nationwide survey finds that 29% of consumers don't bundle their coverages. Most believe they already have the right coverage at the right price, said Beth Riczko, Nationwide’s president of personal lines for property and casualty.

Many consumers haven't shopped for coverage since COVID-19 and may not realize the substantial savings that can come with bundling coverage, she said.

Nationwide said the package will be available in more than 30 states including Ohio this summer, with plans to add states and coverages in the future. The offering is available online only.

"It's broad coverage, quick and easy," she said.

The bundle allows, for example, renters and homeowners to protect a home office. Identity theft coverage is more important at a time when people are using their home networks more and exposing thinformation that could be vulnerable in a data breach.