If you’re a homeowner and own your vehicle, you could probably use a way to lower the cost of home and auto insurance. Did you know that you could save 5-25% on insurance costs just by getting both insurance policies from the same company? Read on to learn how to bundle home and auto insurance. Plus, we’ll show you the best home and auto insurance bundles on the market now.
How do you bundle home and auto insurance?
Bundling more than one insurance policy with the same insurance company can save you both time and money. Managing both of your policies through a single insurance portal will streamline your payments and your claims processes. More to the point, home and auto insurance bundles provide up to 25% in savings.
If you haven’t yet taken out a home or auto insurance policy, setting up a bundled policy is simple. Just pre-apply for either type of insurance, and sign up for both insurance types as you request an offer.
But what if you already have a policy out for one (or both) of these insurance types? It’s not too late to change your insurance and get that bundle discount. Simply cancel the policy (or policies) that you no longer need, and you can sign up for a new bundled home and car insurance policy!
Remember to be careful when you cancel your previous policy. It’s wise to give your insurance company 30 days’ written notice of your intention to cancel the service. Then, you can set up your new policy to start on the same day that the old one expires. That way, you don’t end up with costly lapses in coverage.
Why would you bundle your insurance policies?
First and foremost, for the savings! Because insurance companies want as much of your business as they can get, they’ll often discount bundled policies from 5% to a whopping 25%.
Apart from the multi-policy discount, bundling your insurance policies is convenient. Instead of having to manage two separate accounts, you can make a single payment each month.
Also, if you’ve had to make a bunch of insurance claims, having bundled insurance lowers the odds of your insurance company dropping you. It can also be helpful if you’re struggling to find an insurer who will cover your high-risk home.
Are there any drawbacks to bundling insurance policies?
It’s important to remember that bundled policies aren’t always cheaper. And because bundled insurance policies require you to open multiple policies with the same company, they discourage shopping around.
Before you bundle your home and auto insurance, shop around and look at several offers to make sure that you couldn’t get a better deal from two separate companies. Ask your insurance agent plenty of questions or check out the insurance rating online.
Also, be cautious of any cancellation fees or other costs that may crop up when you terminate your prior insurance policy. Make sure that the savings will be worth any charges that you incur.
What are the best home and auto insurance bundles?
The following insurance companies offer significant discounts to policyholders who bundle home and auto insurance. Read on to check out some of the best home and auto insurance bundles on the market today:
Should you bundle your home and auto insurance?
It depends! If a bundled policy saves you more money than any combination of individual policies that you can find, then you should go for it. Likewise, if you’re struggling to insure a high-risk home, or if your driving record makes it hard for you to find affordable auto insurance, bundling can be a good solution. And if you’re short on time, the convenience of a bundled policy can be a great bonus.
If, however, you can find a combination of two separate policies for much cheaper than the bundled policy, then you should probably pass on bundling.
Are you looking to bundle your auto and homeowners’ insurance? Click here to compare home insurance and auto insurance companies side-by-side. Once you’ve found some good options, request an insurance quote to pre-apply for a bundled policy. When you receive your offer, it should let you know how much you’ll save by bundling your auto and home insurance. Just select the lowest offer with the best perks, cancel your previous policy, and you’re all set!