Bundling auto and home insurance can be a great way to save on your insurance, plus it’s convenient to have your policies bundled together. If your home and car insurance policies are currently with two different companies, it might make sense to change to one provider and bundle the policies. Here’s why.
Bundling home and auto insurance can often save you money on both of the policies. The exact discount will depend on factors like the insurance provider and your policies.
In addition to savings, there are other reasons to bundle your policies. Managing your insurance becomes simpler when you’re working with just one insurance company. You can manage one account, access both of your policies using the company’s online app, and even set up automatic bill payments to keep your policies up to date.
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Bundling your home and car insurance can save you money in several ways. Bundling is most popular because of its ability to lower your premiums. You could get a discount on your car and home insurance when you bundle the policies. Plus, if you add other coverages to the bundle, like a motorcycle insurance policy, you can receive a discount on that coverage, too.
But bundling your insurance could also help you save on your deductible. For example, if a single event damages both your home and your car, such as if a tree falls onto your home and your car, your insurance company might charge you just one deductible. If your car insurance is with one company and your home insurance is with another, you would have to pay two separate deductibles.
While there are many perks to bundling home and auto insurance, there are also some potential drawbacks that you should consider. Bundling policies is often cheaper, but that isn’t always the case. Discounts can vary significantly depending on your insurance provider, so if you’re able to find a great deal on your home and auto insurance through two different companies, it might not pay off to move one policy over so you can bundle them. Contact the insurance companies and ask about their bundle discounts before you make any decisions.
Depending on your coverage, it might be difficult to find one insurance company that meets your home and car insurance needs. For example, if you’re a high-risk driver, your auto insurance options are limited, so you might not be able to get auto insurance and home insurance from the same provider.
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Whether you’re planning to bundle home and car insurance or are just starting to shop for rates, start by gathering quotes from multiple companies. You can get free car and home insurance quotes online to explore your options. In addition to a bundle discount, be sure to ask about other discounts you might qualify for, which can further lower your premiums.
Paige Cerulli Paige Cerulli is a freelance content writer and journalist who specializes in personal finance topics. She graduated from Westfield State University and brings more than a decade of professional writing experience to the ConsumerCoverage team. Paige’s work has appeared in outlets including USA Today, Business Insider, and more.
