When purchasing insurance, it makes sense for you to try and save money along the way. Bundling insurance is an easy and common way to get affordable rates while still having the coverage you need.
Bundling—often known as a multi-policy discount—can often save you money by going through the same carrier for both home insurance and auto insurance. Wondering if bundling policies is right for you? Here are a few of the benefits that can come from bundling your home and auto insurance policies.
1. Bundling insurance policies can save you money.
You can typically receive significant discounts when bundling multiple policies through one insurance carrier. You may even be able to get a single deductible for both your home and auto insurance policies. This will help you save money in the long run while maintaining the coverage you need to keep your loved ones and assets safe. Individuals who bundle with SelectQuote save, on average, $757.+
2. Bundling can save you time.
With one carrier serving as a one-stop-shop for home and auto insurance, bundling can potentially save you time in addition to money. Bundling makes managing home and auto policies easier, reduces the paperwork, as well as the inconvenience of communicating with multiple insurance companies for multiple policies. You’ll have the convenience of asking questions and raising concerns all in one place.
3. Bundling can give you several options for coverage.
Insurance companies offer more complex bundles to encourage the combining of multiple policies beyond home and auto insurance. Not only will it be easier to obtain more coverage from that carrier, it might be possible to insure your car, home, rental property, boat and RV all under one policy. Having all that coverage in one place can cut down on the paperwork and you may only have to pay a single deductible for all of it.
How to Shop for Bundled Insurance Policies
The best way to bundle home and insurance policies is to shop with several different insurance companies at once. SelectQuote can help you find insurance bundles that meet your budget and coverage needs by comparing available rates and plans in your area.
Don’t forget: bundled quotes for home and auto insurance are unique to each policyholder. They’ll vary depending on your claims history, driving record and where you live.
Is bundling my insurance right for me?
In most cases, purchasing bundled home and auto coverage can get you the biggest bang for your buck. But you’ll also want to make sure you’re getting quality coverage. Maybe your insurance company meets your home insurance needs, but will their auto insurance do the same? As you shop for home and auto insurance bundles, consider the following:
Evaluate each policy’s merits.
Carriers with an excellent reputation for auto insurance claims may not have the same level of service when it comes to home insurance coverage. For each type of coverage, seek out shorter, simpler policies with straightforward payout terms. Always clarify what is and isn’t included in the policy, too.
Focus on more than price.
Big discounts on insurance premiums can be attractive, but make sure you compare features and deductibles, too. A low price is important, but don’t forget about other details like being able to use your local mechanic when filing an auto claim.
Determine whether the insurance carrier can cover both policies.
Some insurance companies offer home and auto bundles by working with other insurance carriers. This is fine if both companies work well in their respective fields. But you may not get the same level of service for auto claims that you might for homeowners claims, and vice versa. Before you sign up, find out if both policies are actually underwritten and serviced by the same insurance company.
Know your policy limits.
It may not be possible to bundle your home and auto coverage in areas of the country prone to weather disasters or wildfires. In other places, you can bundle home and auto insurance with umbrella policies that can provide an additional $1 million or more in protection. Before you decide to bundle coverage, make sure you’re eligible based on geography.
Shop around for coverage.
Compare home and auto policies from several different carriers at once to gauge both quality of coverage and price. SelectQuote simplifies this process by handling it all—from shopping to giving you your quote—in minutes.
Importance of Shopping Around for Home and Auto Insurance
It’s crucial to evaluate the individual policies before deciding on bundling for your insurance coverage. A carrier might have a strong reputation for one type of insurance but may not be the same level for another. You’ll want to compare the features and deductibles in addition to the premiums, as sometimes discounts on one can distract you from high costs on another.
Looking to bundle your home and auto insurance? Let SelectQuote help you find the coverage that is right for you.
If you have questions about bundling home and auto insurance, we’re here to help. SelectQuote has 35+ years of experience helping our customers find affordable insurance that meets their needs. We quickly and easily search a variety of highly-rated insurance carriers, gathering unbiased price comparisons to save you time and money.
+ Average customer savings based on an average of new SelectQuote Auto & Home Insurance policyholders between 1/9/2020-1/10/2021. Individual savings may vary, and are not guaranteed. Coverages and discounts subject to state availability and individual eligibility.