- Personal injury protection
- Deductible fund
- New car replacement coverage
- Rental car reimbursement
- Roadside assistance
- Gap insurance
- Advanced safety features
- Alternative energy discount
- RightTrack program
More Liberty Mutual Insurance Reviews
*J.D. Power 2020 Auto Insurance Satisfaction average rating across all regions. Based on a 1,000-point scale.
What Is Bundling Home and Auto Insurance?
The combined cost of home and car insurance can be heavy on the wallet. But when you own vehicles as well as a house, one of the best ways to save on insurance premiums is by taking advantage of home and auto insurance bundles. Furthermore, if you have more than one car, you may also be able to take advantage of a multi-vehicle discount.
State Farm claims that by using buying multiple policies with it, customers can save up to $854 a year. Additionally, Nationwide and Allstate offer a multi-policy discount of 20% and 25%, respectively, to customers who bundle their home and auto insurance policies with them.
Companies like Progressive offer a smaller discount when customers bundle auto and renters insurance — only 3% on car insurance premiums when bundling. However, renters insurance is much less expensive than homeowners insurance, averaging $179 a year, or $15 a month. Despite this, bundling renters and auto insurance is still an easy way to save on monthly car and renters insurance premiums.
How to Bundle Your Home and Auto Insurance
If you have never tried to bundle insurance policies in the past, you may imagine the process to be complicated. On the contrary, combining the two policies through your current insurance provider or a new company is a straightforward process.
- If you have your home and car insurance policies with different companies, start by comparing your current coverages with those offered by the company you want to bundle insurance policies with.
- Compare home and auto insurance bundle quotes from three or more providers to find out how much you are likely to save.
- A representative or agent with your current insurer will walk you through the process of bundling house and car insurance policies.
- If switching to a new carrier, cancel your current policies and start over with a home and auto insurance bundle with the new carrier. You need to provide your current insurer with a 30-day notice to avoid lapses in your policy.
Should I Bundle Home and Auto Insurance?
Combining your home and car insurance through the same provider is typically known to result in savings. All large insurance companies offer this option to customers. But it is important to weigh both the pros and cons of such an arrangement before you make the switch.
Not only are people who bundle home and car insurance likely to get 10%–20% discounts off their policy premiums, but they can also enjoy the convenience of managing policies, filing claims, and contacting customer service in one online portal or mobile app. Furthermore, when you bundle house and car insurance, making payments is easy since most bundled insurance policies will debit your account in one lump payment.
However, even after finding the best home and auto insurance bundle quotes and signing a bundle insurance policy, it makes it difficult to shop around for a new policy. Even more, if your auto insurance premium rises after a traffic violation or accident, what you pay in home insurance premiums may also increase. Some insurers also use “fake bundling” tactics, where they outsource one of their policies to an affiliate company, which no longer gives you the convenience of having all your policies under one roof.
How to Get the Best Home and Car Insurance Bundle
- Compare coverages: When making a home and auto insurance bundle comparison, do not just look at the discounts — also consider the coverage you currently have and what more you would prefer. This will make sure you do not lose out on the protection you need in an attempt to lower your insurance premiums.
- Compare prices: After you have shortlisted a few companies, compare the discounts offered by each of them and the amount you are expected to save every year. If keeping policies separate is a less expensive option, then you are better off not bundling your home and auto insurance.
- Shop around: Regardless of the discount you get by bundling policies, do not forget to shop around every year for cheaper home and auto insurance. Since insurance prices keep changing frequently, you might find a better deal elsewhere.
- Keep your provider updated: Whether you add a new feature to your vehicle or upgrade your house, always keep your insurance company informed. Sometimes little additions can get you extra price cuts on your policies.
Home and Auto Bundling FAQ
The best home and auto insurance bundle doesn’t just mean a house or a car. Most bundling insurance companies let customers bundle condo insurance, renters insurance, and home insurance with car, motorcycle, RV, or boat insurance.
Yes, opting for a bundle insurance policy is worth it. If anything, people should at least look at home and auto insurance bundle quotes to see how much they can save when looking for the best bundle insurance policies. Usually, drivers and homeowners can get 10%–20% bundle discount on premiums when they buy homeowners insurance and car insurance.
Home and car insurance bundles are offered by most major companies with the promise of big discounts. You may also bundle multiple vehicles in the same policy for a price cut in the premium.
Not all insurance companies offer the best of both worlds. Some offer the best cheap car insurance, while others specialize in home insurance. The best home and car insurance bundle discounts are offered by companies like State Farm, Progressive, and USAA, although the last is only for military families.
We evaluated the car insurance companies based on discounts, coverage, online resources, financial strength and customer satisfaction to determine Reviews.com scores and create our best car insurance reviews. To compare car insurance companies with other providers across the board, we calculate each Reviews.com score based on the following:
- Discounts: Auto insurance companies that advertised more discounts received higher scores in our methodology.
- Financial Stability: Reviews.com utilized AM Best ratings to assign a score based on each car insurance company’s financial stability.
- Customer Satisfaction: J.D. Power ranks car insurance companies by customer satisfaction, so we used its 2020 Auto Insurance Satisfaction Study to compare the average rating of insurers across all regions.
- Coverage: Car insurance companies were awarded higher scores for advertised coverages beyond the body liability, property liability, collision and personal injury protection.
- Online Resources: We reviewed the digital resources of each car insurance company and awarded higher scores to insurers with mobile claim estimates, digital insurance cards, and more.