Why Bundle Your Home and Auto insurance

A smart way to save on both your home and auto insurance policies is to buy purchase them from the same company, a strategy known as “bundling.” Data shows that more than 50% of consumers bundle their auto and home insurance policies. Find out why you should bundle and get auto insurance cheap quotes from our website.

Bundling savings come in the form of a discount, usually applied to both policies, under the label “multi-policy discount” on your policy declarations page. Bundling has other advantages besides cheaper insurance:

  • You deal with only one insurance company.
  • You may be able to manage your policies online at the same place or through the same agent.
  • It’s easier to identify gaps in your coverage.
  • Depending on the company, you may be able to sync the renewal periods and effective dates of both policies or combine your billing statements.

There may be other advantages, depending on the company and state you live in. The discount given for bundling policies varies a lot, depending on the insurance company.  According to data compiled by Quadrant Information Services, savings from bundling auto and home insurance policies with a single insurance company averaged about 8 percent nationwide for auto insurance. Average auto insurance savings for bundling auto and renters’ insurance was 4.9 percent.

It’s not just that insurance companies can make a profit off two policies. Customers who bundle are also seen as more likely to renew, and homeowners file fewer claims on their auto insurance policies. Plus, an insurer will be less likely to drop you if you caused an auto accident. Sure, the premiums will increase, but you will not be kicked off, since you are a valuable customer for their business. This is another big advantage.

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