Saving money by bundling home and car insurance can be a great way to reduce your monthly premium.
Bundles of insurance can help you save money and streamline your entire insurance system under one provider and account. It can make sense to qualify for multipolicy discounts, but don’t let this be your sole deciding factor.
Learn more about the benefits of bundling home and auto insurance and find out which insurance companies provide these bundles.
Combining car and home insurance
When you are shopping for insurance, there are several things that need to be considered. You should not only choose the best type and amount of insurance for you, but also make sure that it fits within your budget.
Some insurance companies give discounts on car insurance for certain things, such as paying the bill in advance, having safety features installed in your vehicle, or being an excellent driver. Bundling your policies with one insurance provider, such as your home and car insurance, is a great way to reduce your premium.
Bundling is a way for insurance companies to encourage their clients to buy more insurance. It can save you money.
What companies provide car and home insurance packages?
Insurance companies often offer discounts for multi-policy purchases. These are some of the insurers who offer such a savings option.
Progressive provides several options for multi-policy discounts, such as a discount when you bundle your auto insurance with other policies, including your renters’, home, condominium, or RV insurance. Bundling two or more Progressive products can result in a discount on multipolicy insurance.
The company offers a wide range of insurance products, though some may not be available in each state. The policies include homeowners and car insurance, as well as coverage for unique items such Segways, jewellery, and watercraft.
Progressive offers a variety of other ways to reduce your premium. However, the average saving for multi-policy customers is only 4%.
Geico
Geico provides a variety of discounts to its customers, including the multipolicy. Multipolicy discounts are available to customers who bundle policies for multiple vehicles (such as car, motorcycles, condos, and motor homes) or combine a vehicle insurance policy with homeowners or renters coverage.
Geico claims that customers who have multiple vehicles can get a discount of up to 25 percent, while the amount saved varies with multi-policy discounts. Discounts for vehicle equipment, discounts on driver education and discounts on safe driving are also available.
Geico does not offer all discounts or coverage in every state. You’ll need to research the company to determine if it’s right for you.
Allstate
Allstate claims that bundling home and auto policies can result in savings of up to 25 percent. Bundles that include car insurance, motorcycle coverage, condo and renters’ insurance are also common.
You can manage multiple policies in one Allstate account using the mobile app or website.
USAA
USAA has financial products designed specifically for U.S. Military members, spouses of USAA Members and their children. USAA claims that members will save 10% on their auto and home insurance when they bundle them together.
Bundled discounts are available for multiple vehicle purchases. USAA has several services, policies and benefits that are available only to military families and members.
Should you bundle car and home insurance together?
There is no “one-size-fits all” solution to finding the right insurance company or policy. Bundling discounts is a great way to save money, but it should only be one part of your search for the best insurance.
Bundling car and home insurance
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Your premium could be cheaper.
- Manage multiple insurance policies through the same company or agent. Save time by having just one login. Working with the same agent can help you protect your valuable items.
Why you should not bundle your car and homeowners insurance
- There may be better options available. For example, if your insurance company considers you a high risk driver, you need to cover a custom-built vehicle or classic car, you might want to look for an insurance provider that does not offer any discounts for bundling.
- Even without discounts you could get cheaper insurance. Your insurer may offer other discounts like safe driving programs or usage-based policies that can save even more.
Ask about bundles of car and home insurance
Does it make sense to combine the cost of a car and a home?
Each person’s insurance situation differs. Comparing insurance quotes to see which discounts are available is a good way to get the best overall price.
What does it mean when insurance is bundled?
Multipolicy discounts are often used to describe insurance bundles. Multicar and multivehicle discounts are offered by some insurance companies.
What insurance types can you bundle?
Some insurance companies bundle home and auto coverage, while others offer different bundles based on the type of vehicle, such as cars, motorbikes, RVs, boats, or even motorcycles.
What’s next?
It can be overwhelming to shop for auto insurance. Decide what type of insurance you require. Compare insurance quotes and look for all discounts that you might qualify for.