Bundling your auto and home insurance policies with the same provider can save you money. These savings are as high as 15 percent on average. However, they can vary from state to state and policy to policy. Shopping around is important for the right insurance bundle to fit your needs.
Why bundle your products?
Some people purchase both home and auto policies from the same insurer for various reasons. Some want to get discounts, while others just want to simplify their policy management. Customers who have many claims or prefer to deal with just one insurer are also likely to benefit from this.
Getting a discount on your home and auto insurance is an excellent way to save money, but it's not the only way to do so. By comparing quotes, you can find lower prices.
Compare the costs of policies offered by different companies to see if you could save money. Compare rates as well as ratings for customer satisfaction and financial stability.
What are some of the advantages to bundling?
Bundling discounts can save you money. But you must be sure that the time and effort required is worth it. Check if your insurer uses a third party insurer to cover either auto or home policies. It could be that your insurance coverage is less secure, or you are paying more.
Why should my home insurance and auto policy be with the same insurer?
Combining home and auto policies with one provider simplifies the management of your policy. This can include aligning the renewal periods and effective date, combining your billing statements, etc.
Simplified insurance management
You can get benefits such as a single loss deductible for your homeowners' and car insurance. You can check your rates and pay online, or use an app.
Insurance security
If you have a good relationship with your insurer and make few or no claims, bundling your home and auto insurance can help to protect you from losing your coverage in the event of an accident. The insurance company may also be less inclined to drop either your home or your auto policy in the event that you have a large claim.
The bundle rate should match your base premium with your current carrier. Bundling will be less beneficial if you have lower underlying rates.
You can use our Policygenius bundling ratings to compare the costs of various insurers and see which ones offer the best home and auto insurance bundles. These ratings are based on the financial stability and strength of each insurer, their customer satisfaction scores, any bundling discounts, and the coverage options offered by each company.