Nationwide's new internet home insurance can provide competitive quotes in less than two minutes, it has claimed.

The site, nationwide.co.uk, can provide buildings and contents insurance quotes, applications and sales. Meanwhile, customers without internet access can continue to get quotes and cover from Nationwide branches or by telephone.

Nationwide obtained quotes from competitor websites for three different houses: a nearly-new, two-bedroomed terraced house owned by a 25-year-old in Newcastle; a 21-year-old three-bedroomed semi-detached house with a middle-aged owner in Northampton; and a 30-year-old four-bed detached house with a 50-year-old owner in Skegness.

It bolstered its claims of competitivness by finding that its quote for the first house was £87 less than the most expensive quote, £220 less for the second house and £364 less for the third. The most expensive quotes sourced were from Eagle Star.

However, Halifax were £54 cheaper than Nationwide on the first house, and Lloyds TSB were only £10 more expensive on the third house.

Nationwide's ecommerce director Jim Willens said making home insurance available on the internet was more convenient for customers.

“Many will also find they'll get a better deal with Nationwide than their current provider,” he said.