Bundling home and car insurance is a great way to save money. “Bundling” means that you’re combining both your home insurance and your auto insurance into a packaged deal from the same company. The benefit is straightforward: insurance companies can offer you better rates if you bundle your insurance because it’s in their best interest to secure all of your business. And since better rates is always a positive for you, it’s in your best interest as well, if you need both car and auto insurance.
Having multiple coverages from one insurance provider offers you more security; even if, say, you get in a lot of accidents, your car insurance provider will be less likely to drop you if they’re also providing your home insurance. And having your bills come from the same source always makes things a little easier.
Different insurance companies offer different kinds of bundling packages. Some companies will give a fixed rate when you bundle services, while others will offer certain price cuts on each type of insurance offered. Thankfully, finding a bundle package is relatively easy. Here’s how to do it.
How to bundle your car and home insurance
Step 1: Find out when your contract expires. The first thing to do before bundling your insurance services is to see if you’re currently locked into any contracts.
If you can’t get out of your car insurance plan for another eight months, you’re not going to want to bundle with a separate company; you’ll either want to bundle through your auto insurance provider, or wait until your contract expires.
Step 2: Comparison shop. As with purchasing one kind of insurance, the best way to purchase a bundled package is to shop around.
Start by calling your current home and auto insurance providers, and tell them your plans to bundle. They may offer you an extra good deal, as they won’t want to risk losing you as a customer.
Step 3: Shop around with new insurance companies. Call, or get an online quote, from a handful of different insurance providers, until you find the one that best fits your needs and your budget.
If you find a bundle package better than the one your current providers can offer, give them a call and let them know that you need to cancel.
In a last effort, they may offer you a better rate. If not, proceed with purchasing your new bundled insurance plans, then return to your old policies and cancel them. This way, you will have no gaps in your coverage.
How to bundle your car and home insurance if they’re already from the same provider
Step 1: Call your provider. If you already have home and auto insurance from the same provider, but your package isn’t bundled, then give your provider a call.
Let them know that you’d like to bundle your insurance plans, and take the best offer that they can give you – it will almost always be a big discount from what you’ve been paying.
Bundling your car and home insurance policies is a great way to save money with your coverage. However, there are rare cases where you’ll have such a good deal on both your home and your auto insurance, that you’ll actually lose money by bundling, so make sure you always compare prices before signing any contracts. And if you need to bundle with life insurance as well, simply follow the same steps.