Insurance can be a significant expense, especially when you need multiple policies for different products. Bundling your home and car insurance with the same company can save you money and time—and who doesn’t want that?
Not all insurance providers are equal, though, so it’s important to shop around for home and car insurance quotes online.
Jerry.ai is a free and easy-to-use app that will get you quotes in minutes. And with a 4.7/5 rating in the App Store, it’s one of the top-ranked insurance-shopping platforms in the U.S., too.
Here’s what you need to know to find the best deals on home and car insurance bundles.
How can insurance bundling save you money?
Insurance bundling is simple: It’s having several different insurance policies or products with the same company. This means that instead of dealing with multiple insurers for your policies, you only have to deal with one.
The most common types of insurance to bundle are home and auto, though you can bundle other policies as well.
Many insurers offer bundle discounts. While the savings is typically about 5-10%, it varies depending on the company and how many policies you’re bundling. For this reason, it’s a good idea to get at least five car and home insurance quotes from various providers to compare.
Here are the average home-auto bundle savings from some of the largest insurance companies in the country:
- Farmers: 10%
- State Farm: 10%
- Allstate: 5%
- Progressive: 5%
- Nationwide: 4%
- Liberty Mutual: 3%
It’s important to remember that discounts may vary by circumstance and may not be available in all states. By getting multiple car and home insurance quotes you can ensure you’re getting the best deal for the coverage you need.
When is it a good idea to bundle?
If the combination of policies is cheaper than what you currently pay for separate policies, if you’re trying to insure a high-risk home, or if you want to strengthen your relationship with your insurance company, it may be a good idea to bundle.
When is it not a good idea to bundle?
You may be wise to avoid an insurance bundle if your premium for the bundle is higher than separate policies with separate insurers, you’re subject to high cancellation fees that negate the savings you’d get from bundling your policies, or you’ll have to compromise your level of coverage to make the bundle worth it.
Bundling should increase convenience and save you money without leaving you open to losses. If it’s not achieving all of these things for you, you’re probably best maintaining separate insurance policies for your home and car.
What other types of insurance can you bundle?
Renters and auto insurance
Insurance bundles also extend to tenants. Whether you rent a house, condo, or apartment, you have some of the same insurance needs as a homeowner.
If you also own a car, bundling your tenant insurance with your car insurance policy can net you some savings.
Most of the major insurers offer discounts ranging from 3% to 10%. Farmers and State Farm offer the most generous discounts, while GEICO and USAA typically offer the least generous.
Condo and auto insurance
If you own a condo rather than a house, you may have a condo insurance policy. Condo insurance typically covers things like damage to your personal property, damage to your unit, and injury of a person visiting your condo if you are at fault.
In some cases, bundling your condo and car insurance with the same provider might offer you a discount.
Depending on the company, you might be able to find savings of up to 15%. State Farm and Farmers are your best bets for higher discounts, while GEICO and USAA offer fairly low savings for bundled policies.
How to switch car insurance companies
If you’re switching insurance companies to take advantage of bundling deals, you need to watch out for potential lapses in coverage. You never want to be without car or home insurance coverage. Ensure your new policies are in place before you cancel your existing policies.
To get the best deal, compare a number of different car and home insurance quotes. Insurers offer varying discounts, and shopping around is the only way to be sure that you’re getting the best deal.
Jerry.ai lets you compare multiple providers easily so that you can ensure you’re getting the best home and car insurance quotes. Jerry can also take care of canceling your old insurance for you, and it handles all of the paperwork, too. Download the app and see what your savings could be!
Thousands of customers saved on average $887/year on their car insurance with Jerry
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