emmanuelUnderstanding Home And Auto Insurance Bundles Policy
Understanding how home and auto insurance bundles work can help you find big savings. Insurance companies offer bundled policies that combine your home and auto coverage at a lower price than purchasing separate policies.
How Bundling Works
Bundling multiple insurance policies together allows insurers to offer discounts of 10-25% or more. Since you’re giving them more of your business, they’re able to pass on savings.
The more coverage you bundle, the bigger the discount.
Some things to consider:
1. Make sure the bundle includes all the coverage you need. Review policy details to ensure you’re not sacrificing important protections just to save money.
2. Compare quotes from different companies. Don’t just go with the first bundle you find – shop around at other insurers to see which offers the best overall value.
3. Look for additional discounts. See if you qualify for lower rates due to things like:
- Being claim-free for a number of years
- Having safety features like smoke alarms, fire extinguishers or an alarm system
- Being a long-time customer
- Paying your premium upfront instead of monthly
4. Ask about loyalty rewards and incentives. Some companies offer additional perks for bundling like gift cards, travel discounts or roadside assistance.
The Benefits of Bundling Home and Auto Insurance
Here are some of the basic benefits you get once you bundle your home and auto insurance.
1. Save Money
Insurance companies often offer discounts for bundling multiple policies together. You can expect to save at least 5-15% off your premiums, sometimes more. The more policies you bundle, the bigger the savings. Over time, those savings really add up.
2. Convenience
Only having to deal with one insurance provider means fewer bills to pay, one website to log into, one customer service number to call, and less paperwork to keep track of. When it’s time for renewal, you can review and make changes to all your policies at once.
3. Potential extras
Some insurance companies provide additional perks for bundling, like 24/7 roadside assistance for auto insurance customers or smart home devices for home insurance customers. They may also offer accident forgiveness or vanishing deductibles for long-time bundled policyholders.
Bundling home and auto insurance is an easy way to simplify your life and put more money back in your pocket. Do some comparison shopping to find a reputable insurance company offering big bundle discounts in your state.
How to Find the Best Home and Auto Insurance Bundle
To find the best home and auto insurance bundle for you, shop around at different companies and compare their offers. Some things to consider:
1. Price
Of course, you want to find an affordable bundle. Compare quotes from at least 3-4 companies to find the best rates. Look for companies that offer bundling discounts for carrying multiple policies. Ask about any other discounts you may qualify for, like safe driver, loyalty, or security system discounts.
Consider increasing your deductibles to lower the premiums. Raise your auto deductible to $500 or $1,000 and your home deductible to at least $1,000. The higher the deductibles, the lower your premiums. Just make sure you can afford the deductibles in case of a claim.
2. Coverage
Make sure both your home and auto policies provide adequate coverage for your needs. For your home, consider additional coverage like flood or earthquake insurance if needed in your area. For your auto, compare liability, collision and comprehensive coverage limits and any additional coverage like roadside assistance or rental car reimbursement.
3. Customer Service
Look for companies with a solid reputation for customer service and claims handling. Read online reviews from other customers to determine the overall quality of service. Know how companies handle the claims process and if they offer 24/7 phone service for any questions or emergencies. Good service can make all the difference in your experience as a policyholder.
By bundling your home and auto policies at a reputable company with the coverage you need at an affordable price, you’ll gain peace of mind knowing you have quality protection for the major assets in your life.
READ ALSO: Steps to Get a Free Auto Insurance Quote Online
Top Home and Auto Insurance Companies With Bundled Options
A few of the top providers with competitive bundled insurance rates include:
1. State Farm
As the largest auto insurer in the U.S., State Farm is a great place to start. They offer home and auto bundles that can save you up to 17% off premiums. Their discounts include safe driver, multi-policy, and good student.
2. Geico
Geico is well-known for affordable coverage and convenient digital tools. Their home and auto bundle can knock 15% off your total premium. Geico offers additional discounts for federal employees, military, and college graduates.
3. Progressive
Progressive is another major insurance provider with home and auto bundle options. Bundling with them can save you up to 10% each year. They’re also known for competitive rates and a variety of discounts like safe driver, multi-car, and homeowner.
4. Liberty Mutual
Liberty Mutual offers some of the highest home insurance coverage limits, up to $1 million. Bundling home and auto with them can save you up to 15% and they offer additional discounts for new homes, fire protection, and security systems.
5. USAA (For Military)
If you or a family member has served in the military, USAA is an excellent choice. They offer very affordable home and auto bundles exclusively for military members and veterans. USAA’s bundling discounts can save you up to 15% off premiums. They also offer reduced rates for safe drivers and homeowners.
CLICK HERE FOR MORE ON HOW TO GET THE BEST USAA AUTO INSURANCE QUOTE ONLINE
Tips for Getting the Most Savings From a Home and Auto Bundle
To get the most savings from bundling your home and auto insurance, here are some tips:
1. Compare quotes from multiple companies
Don’t just go with the first bundle you find. Compare quotes from at least 3-4 major insurance companies to find the best deal. Some companies offer bigger discounts for bundling, while rates can vary a lot between providers for the same coverage.
2. Increase your deductibles
The higher your deductibles, the lower your premiums will be. If you can afford to pay more out of pocket in the event of a claim, raising your deductibles on both home and auto policies can save you hundreds per year.
3. Drop unnecessary coverage
Review what’s covered in your policies and see if there’s any “fluff” you’re paying for that you don’t really need. Things like roadside assistance, rental car reimbursement or identity theft coverage may be costing you extra with little benefit. Dropping these add-ons can reduce your bill.
4. Take advantage of all eligible discounts
Ask about all discounts for bundling, safe driving, safety features in your home/vehicles, etc. The more discounts you can get, the bigger your savings. Many companies also offer additional bundling discounts for bundling other policies like life or umbrella insurance.
5. Pay premiums in full up front
If possible, pay for your entire 6-month or annual premium in one lump sum. Most insurers will charge slightly lower rates for customers who pay in full rather than paying monthly. The savings may be small, but can still add up to $20-50 per year.
Conclusion
Bundling your home and auto policies can potentially save you 20-30% off what you’re paying now for separate coverage. Following these tips and shopping around at different companies can help ensure you’re getting the maximum savings and value from your insurance bundle.
emmanuel
