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 are as high as 15 percent on average. However, they can vary from state to state and policy to policy. It's important to shop around for the best insurance bundle that fits your needs.
Why bundle?
Many people buy both their car and home insurance through the same company. This is for many reasons. Some people want discounts while others simply want to simplify policy management. Customers who file many claims may also find it beneficial to use one insurer for all their coverage needs.
It's a great way to save, but not the only one. You can also find lower prices by shopping around for quotes from a variety of companies.
Compare the costs of policies offered by different companies to see if you could save money. You can compare rates as well customer satisfaction scores and financial stability ratings.
What are the pros of bundling?
Bundling can be a great way to save money. Just make sure the savings are worth your time. Also, it's important to find out if the insurance company you choose has a third-party provider for your home and auto policies. If you find that this is the case, your insurance may not be as secure. Or it could cost more.
Why should I choose a single insurer for my home and auto policies?
Combining your auto and house insurance under the same provider can make it easier for you to manage both policies. This can involve aligning your renewal dates and effective times, combining bills, and much more.
Simplified insurance management
You can get benefits such as a single loss deductible for your homeowners' and car insurance. You can also log in to the same account and check your payments and premiums. Or, you can download an application that allows you to manage all of this from a single 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. It also can help to keep your premiums lower, as the insurance company will be less likely to drop your home or auto policies in the event of a large claim on either policy.
The bundle rate should match your base premium with your current carrier. Bundling will be less beneficial if you have lower underlying rates.
The Policygenius ratings can be used to compare prices and bundles offered by different insurers. These ratings take into account each insurer's financial strength and stability, customer satisfaction scores, bundling discounts available, and coverage options for each company to give you a comprehensive view of each provider's strengths and weaknesses.