With costs and prices always rising, you’ve got to take advantage of any savings you can get. All states require drivers to have car insurance to drive, but did you know that some companies offer a discount for bundling home insurance with auto insurance? We’ll help you understand when this works, how much you can save, and how to get started with the best home and auto insurance bundles.
How Bundling Home and Auto Insurance Works
Bundling insurance is as simple as it sounds. You purchase both a home policy and an auto policy from the same company, and the company gives you a discount for doing so. This helps the insurer retain customers and save money. It also simplifies the process for you, as all your insurance needs are in one place.
The average savings when you bundle policies are around 15%. This number changes based on your coverage, provider, and location. As you search for the right insurer and best home and auto bundle, request the multiple-policy discount, and encourage an agent to explain the savings to you.
You may also choose to purchase umbrella insurance as one of many additional coverage options. This coverage protects your assets if an incident exceeds your liability limits with your other policies and is often included with the best auto/home insurance bundles.
Top Insurance Companies Offering Home and Auto Bundles
Where should you start with bundling? If you're satisfied with your current home or auto provider, consider reaching out to your agent to get a quote for combining your policies. It’s not just your auto and home; you can often add policies for things like boats, UTVs, and trailers.
Progressive is one company that offers an average of more than 20% off your premium by combining home and auto insurance. Other company discounts include a teen driver discount and continuous insurance, but the bundle and save discount is one of the most popular.
Liberty Mutual Insurance is another company well known for offering one of the best home and auto bundles. On average, you can save up to $950 on home and car insurance by purchasing them both.
The pros for bundling policies include:
- Convenience and easy payments
- Discounts and savings
- Possible extra perks, like accident forgiveness
- Long-term relationship with your insurer or agent
Cons for bunding policies include:
- Sometimes the price is higher.
- You may feel “locked in” with your insurer even if there’s a better deal available.
- Not all insurers offer bundling discounts with homeowners insurance.
Who Qualifies for Bundling Discounts?
Most consumers qualify for bundling discounts, but each company offers a different package. Typically, insurers look for individuals who are buying auto and home policies, as well as those who live in the same household. Owning your own home may influence your insurance bundling.
As always, your driving record and credit score can play into your rates. Your geographic location may also affect your discount. Insurers may consider local risk factors and increase premiums for individuals residing in high-risk areas, such as California, Florida, or urban areas.
If you’re renting a home or apartment, you can still qualify for bundle discounts. If your credit score is high and risks are low, insurance companies are likely to take a chance on you.
How To Compare Bundled Insurance Quotes
So you’ve decided to bundle your insurance quotes together. We’ve got some basic steps to simplify the process for you.
Always gather policy details and examine them closely. If a deal seems too good to be true, it sometimes is. Some companies may try to sell you a cheaper policy without explicitly informing you that your coverage changes. Compare all policies in detail before you commit.
Look at multiple carriers. Don’t settle on one. Get quotes from agents, and don’t stop until you’re satisfied. With numerous quality carriers and discounts available, you should be able to find what you're looking for.
Remember that the cheapest policy isn’t necessarily the best option. For example, if you increase your deductible to decrease your monthly premium, that can work fine until you have an accident and have to pay the high deductible.
Also, watch for claims ratings and coverage limits to change, as these can influence a company's ability to make a sale. Weigh the benefits of a high deductible and lower coverage limits against the lower costs before making a decision.
Get Customized Home and Auto Insurance Bundle Quotes Today
Still unsure where to start to bundle your home and car insurance coverage? At EverQuote, our goal is to find the most affordable but comprehensive coverage that fits within your budget. We work with most major companies to help our clients obtain the best and most affordable policies when they bundle their home and auto insurance. We’ll connect you with the right company to make at least one thing in your life simpler.
As insurance prices fluctuate daily, the best way to obtain an affordable policy is to shop frequently and compare similar policies. Get quotes for bundling your home and auto insurance. It only takes a few moments, and the comparison is always free.