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How Bundling Insurance Saves You Money
Most of us would welcome ways to make life a little less complicated. When it comes to auto and home insurance, bundling can help you do just that. Bundling, also technically known as a multi-policy or a companion discount, can often save you money by going through the same carrier for both home insurance and auto insurance.
Why bundle insurance?
Bundling insurance policies can help you save money on something you’re likely required to have—consumers who bundle home and auto insurance could save up to 30 percent.* Most states mandate, at a minimum, liability insurance for the owner of an automobile. Homeowners insurance, while not required in all states, is recommended to protect the structure of a home and the property inside.
Additional Benefits of Bundling
- Cost and time savings
- Working with one insurance company
- Consolidated monthly payments
- Combined insurance policies
- Streamlined claims submission process
- Single deductible
How to Bundle Insurance Policies
The easiest and fastest way to find the right home and auto insurance bundle is to work with SelectQuote. Whether you’re new to buying insurance or shopping for a new policy, in just minutes, we will help you navigate the complexities of the insurance shopping process. With our in-depth knowledge of the top carriers, we can help you instantly compare all plans available in your area and determine which fits both your home and auto insurance needs.
Bundled quotes for home and auto insurance are unique to each policyholder and will vary depending on your claims history, driving records and where you reside. Learn more about your opportunity to save money by bundling.
Is bundling insurance right for me?
When it comes to getting the most bang for your buck, purchasing home and auto insurance in a bundle can often make a lot of sense, but then there’s the question of quality: just because one carrier’s homeowners coverage is well suited for you, is their auto insurance up to par? Here are five things to consider when looking to bundle home and auto insurance:
Evaluate Each Policy – A carrier that has an excellent reputation for processing auto insurance claims may not provide the same level of service when it comes to homeowners protection. For each type of coverage, look for shorter, simpler policies with straightforward payout terms and be sure to clarify what is and isn’t included in the policy.
Look at the Big Picture – When considering bundling auto and home insurance policies, compare the features and deductibles in addition to the premiums. Discounts in one can distract you from high costs in another. While a low price is important, don’t lose sight of the other aspects that are important to you like the flexibility to use your local mechanic when filing a claim.
Can the carrier cover both policies? – Some insurance carriers offer an auto and home insurance bundle by partnering with other carriers. While this can be fine if both have an excellent reputation in their respective fields, you may not get the same level of service for your auto claims that you do for your homeowners claims or vice versa. Before you sign up, find out if both policies are actually underwritten and serviced by the same company.
Know Your Limits – In certain areas accustomed to weather disasters, it may not be possible to bundle your homeowners insurance with auto or other types of coverage. Elsewhere, you can often bundle auto and home insurance with umbrella coverage to provide $1 million or more in additional protection. So before you decide to bundle, make sure you’re geographically eligible.
Shop Around – Before making the decision to bundle, it’s crucial to request auto and home insurance quotes from various carriers to compare the quality of coverage as well as price. A licensed SelectQuote sales agent can actually take care of all the shopping and comparing for you in just minutes.