Bundling insurance is a great way to save on both your home and car insurance by purchasing them from the exact same company. These savings range from 15% to as much as 20% on average. They vary by state and by policy. It's important to shop around for the best insurance bundle that fits your needs.
Why bundle?
People often buy their home and car insurance from the same insurance company for a number of reasons. Others want to save money, while others want to simplify the management of their policies. Customers who have many claims or prefer to deal with just one insurer are also likely to benefit from this.
Saving money on home and auto insurance can be a good way to cut costs, but this is not the only option. You can also find lower prices by shopping around for quotes from a variety of companies.
The best way to determine if you can save money by bundling is to look at the cost of different policies from several companies. You can compare rates as well customer satisfaction scores and financial stability ratings.
What are the pros of bundling?
Bundling discounts can save you money. But you must be sure that the time and effort required is worth it. Also, it's important to find out if the insurance company you choose has a third-party provider for your home and auto policies. You may find your insurance less secure or that you're paying more.
Why should I choose a single insurer for my home and auto policies?
Combining auto and home insurance with the one provider is an excellent way to simplify your policy management. This can include aligning the renewal periods and effective date, combining your billing statements, etc.
Simplified insurance management
Take advantage of benefits like a single loss deductible on your car and homeowners insurance. You can also check your premiums or make payments using the same account, or you can download an app which allows you to do this all in one place.
Insurance security
If you are in a good relationship and you make few or no insurance claims, bundling both your auto and home policies can protect you against losing your coverage if you get into an accident. Bundling your policies can also lower your rates, because the insurance company is less likely drop your home and auto policies if you make a big claim.
However, it's also important to ensure that the bundled rate you receive matches the base premium you pay with your current carrier. If your underlying rates are lower, then the bundling discount won't be as much.
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.