Nationwide Insurance Review UK 2026: KT Score 66/100

Last reviewed: June 2026

About Nationwide Building Society

Nationwide Building Society (FCA FRN 106078) is the world's largest building society and the UK's second largest mortgage lender after Lloyds Banking Group. As a mutual, Nationwide is owned by its members -- its mortgage borrowers and savings depositors -- rather than external shareholders. This structure distinguishes Nationwide from listed banks and insurers: surplus is returned to members through competitive rates and service investment rather than shareholder dividends.

Nationwide's primary businesses are residential mortgages, savings accounts and current accounts. Insurance products -- home, car, travel and life -- are secondary offerings distributed through Nationwide's member base and branch network, typically underwritten by specialist insurance partners rather than Nationwide's own insurance entity.

FlexPlus: Nationwide's Packaged Account

Nationwide's FlexPlus current account is a packaged account that includes worldwide family travel insurance, UK and European breakdown cover (through the AA), and mobile phone insurance as standard benefits of the account, for a monthly fee. For members who would otherwise purchase separate travel insurance and breakdown cover, the FlexPlus package can represent good value relative to purchasing these products individually.

The FlexPlus travel insurance covers pre-existing medical conditions on a declaration basis, which is a relevant feature for older members. The travel insurance is underwritten by a specialist insurer on Nationwide's behalf and reviewed periodically. The specific travel insurer and terms should be verified at the time of account opening as these arrangements can change.

Nationwide as an Insurance Provider

Nationwide's standalone insurance products -- home, car, travel and life -- are available directly through Nationwide's website and branch network. These products are underwritten by specialist insurance partners and carry the Nationwide brand. Home insurance products hold Defaqto ratings. Car insurance is available but is not a core Nationwide product in the same way as its mortgage and savings offerings.

For members who hold a Nationwide mortgage or savings account, insurance products offered by Nationwide provide a consolidated financial relationship with a trusted mutual brand. For consumers choosing insurance independently, specialist insurers with dedicated claims infrastructure and motor or home expertise typically offer stronger standalone products.

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Nationwide's Mutual Structure: Member Benefits

Nationwide's mutual structure means it does not pay dividends to external shareholders. The group periodically distributes value to members through enhanced savings rates, reduced mortgage rates or direct payments. In 2024, Nationwide distributed 100 pounds to eligible current account members as a direct cash benefit -- a form of member return that listed banks and insurers cannot replicate in the same way. The mutual ethos influences Nationwide's approach to product pricing and customer service investment.

Nationwide and the Virgin Money Acquisition

Nationwide completed the acquisition of Virgin Money UK plc in 2024, creating a combined group with approximately 25 million customers and significantly expanded current account and credit card operations. The combined entity retains both the Nationwide and Virgin Money brands in the short term. The acquisition does not directly affect Nationwide's insurance product range, which continues to be offered under the Nationwide brand through its existing panel underwriting partnerships. The Virgin Money brand has its own insurance product history that is separate from the Nationwide insurance range.

Frequently Asked Questions

Is Nationwide a bank or an insurance company?

Nationwide is primarily a building society -- a mutual financial institution specialising in mortgages, savings and current accounts. Insurance products including home, car and travel are secondary offerings underwritten by specialist insurance partners. Nationwide holds FCA FRN 106078.

What is the Nationwide FlexPlus account?

FlexPlus is Nationwide's packaged current account, available for a monthly fee. It includes worldwide family travel insurance, UK and European breakdown cover through the AA, and mobile phone insurance. For members who would otherwise purchase these products separately, FlexPlus can represent good value.

Does Nationwide offer standalone car insurance?

Yes. Nationwide offers standalone car insurance available through its website and branch network, underwritten by specialist insurance partners. Car insurance is a secondary product for Nationwide relative to its core banking and mortgage operations.

Is Nationwide a mutual?

Yes. Nationwide is the world's largest building society and a mutual financial institution owned by its members. It does not have external shareholders. Surplus is returned to members through competitive rates and service investment rather than shareholder dividends.

Does Nationwide car insurance appear on comparison sites?

Nationwide car insurance has limited comparison site presence relative to specialist motor insurers. For full market price comparison, specialist motor brands including Admiral, Aviva and LV= provide more established comparison site coverage.