Is it cheaper to bundle home insurance with car insurance?

Bundling your insurance is an efficient and effective way to save money and possibly find more benefits within your policy. Saving money is essential and crucial for those looking to become more financially stable and adjust their budget. You may not have heard of bundling before, so here’s how it works:

What is bundling insurance?

Bundling insurance is combining multiple insurance policies from the same company into a single package. Instead of purchasing separate insurance policies for different needs, such as home insurance and auto insurance, you can choose to bundle them together.

When you bundle insurance, you consolidate your policies under one insurance company. This means that instead of dealing with multiple insurers for different types of coverage, you have a single point of contact for all your bundled policies. It can help you better manage your insurance and budget while saving you money.

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Why should I bundle my insurance?

Bundling your insurance can save you time and money but depending on the company you use and your policy details, there are plenty of other benefits to bundling.

For example:

Cheaper Premiums: Most companies will offer certain discounts on your overall premium if you choose to bundle with them, usually within the 20% range. The cost of your premium will still is depend on certain factors such as location, age, and credit score.
Communication and management: Dealing with only one insurance company for both of your policies creates a much easier path to filing claims and managing incidents. Some companies may even assign one agent to cover both parts of your insurance policy creating a very straight forward line of communication.
Lower Cancellation Rate: For those concerned about being dropped or canceled by their insurance company, having multiple policies under the same company may prevent or lower the chance of an insurer disbanding your policy after multiple claims.

Bundling your home and auto insurance is a great way to save money and is one of the most common types of bundles as these insurances are usually the highest in policy pricing. However, it is possible to bundle other types of insurances, like renters and auto or recreational vehicle and auto.

How do I bundle?

Ulitmately, you need to find the insurance policies that will work best for you. Since the cost of insurance and coverage amounts will vary from person to person, it’s important that you compare rates from different companies to find the right policy at the right price. We offer a range of tools here that could help you bundle insurance and save money.

Here are some good tips and guidelines to follow when looking to bundle your insurance:

Compare and analyze all options: When looking to bundle make sure to verify you are getting the best options from each insurer you are considering.
Third parties: Certain companies may use a third party to bundle insurance, this won’t affect the policy offer but may create communication problems between you and the company.
Keep up to date: As time passes rates could change as well, so make sure to check in on your bundled and separate policy rates.
The right company for you: Depending on what you value in your insurance, make sure the company you choose fits your needs whether that be saving as much as possible or offering the best customer service.
Worth the bundle: More often than not, bundling insurance saves people time and money, but everyone is different, so make sure bundling is best for you. Certain situations may cause a company to charge you more, for example trampolines are viewed as a risk for home insurers and may be excluded if you choose to bundle. Sometimes even with discounts the combined price of one insurance company may be more than separate policies of two different companies.

About Rate Retriever

At Rate Retriever, our mission is to make the way you shop for insurance transparent and fair through user-friendly tools that respect your privacy and deliver reliable, comprehensive results.

So we took everything we hated about comparing insurance quotes online – the spam, the long questionnaires, the limited choices, the inaccuracy of quote prices – and threw it out the window, favoring a short form that more accurately estimates what you’ll pay at each of the top insurance providers near you.

Rate Retriever is an independent company that is not owned by an insurance provider, nor do we provide insurance ourselves. This independence allows us to be your free and impartial insurance research tool, helping you make the best decisions for your insurance needs.

We may earn a commission when you click one of the links or call one of the providers listed on our site; however, we do not allow our partnerships to influence which information we provide.

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