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Car and Renters Insurance Bundling - Insurify

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Katie Powers

By: Katie Powers

Edited by Jackie Cohen | Reviewed by licensed insurance agent, Janeth Lopez

Last Updated June 15, 2022

Why you can trust Insurify

Insurify partners with top insurance companies and is a licensed agent in all 50 states. However, the insurance experts writing our content operate independently of our partners. Check out reviews from over 3,000 satisfied customers, how we make money, our data methodology, and our editorial standards.

The price tag of insurance often feels overwhelming, especially when purchasing multiple insurance products at the same time. Many insurance providers offer helpful multi-policy bundling discounts for policyholders purchasing auto insurance with renters or home insurance. The types of insurance policies and bundling options vary, but the benefits of bundling are clear.

Doubling up on renters and car insurance for a multi-policy discount makes choosing an insurance provider even more important. Comparing auto insurance quotes with a quote-comparison site like Insurify allows users to consider multiple car insurance companies at the same time, considering insurance rates, discounts, and coverage limits.

See More: Best Car Insurance Companies

Quick Facts

  • Most car insurers offer opportunities to save by bundling auto and renters insurance.
  • Renters insurance companies typically offer personal property and liability coverage.
  • Insurify’s quote comparison tool allows users to easily compare auto and renters insurance quotes.

What is renters insurance?

Renters insurance provides coverage for policyholders renting an apartment, home, or condominium. Renters pay monthly insurance premiums for their renters insurance policies, similar to monthly auto insurance payments. Renters insurance coverage typically includes elements of liability, personal property damage, and additional living expenses for renters.

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What does renters insurance cover?

Can I get a discount for bundling my car and renters insurance?

Yes, many companies offer bundling discounts when policyholders combine renters and auto insurance policies with the same company.

Unlike homeowners insurance, which provides coverage for both personal property and the building or home’s structure, renters insurance simply provides coverage for personal property damage—from vandalism, water damage, natural disasters, fires, and more. The responsibility for covering any damage to a home or building’s physical structure falls on the landlord.

Renters insurance coverage options depend on each particular insurance company, and most of them offer their own specific add-ons and specializations. Typical coverage options almost always include liability, personal property, and additional living expenses. For those considering renters insurance, a quote-comparison site like Insurify helps identify the best plan for them.

Liability insurance usually covers medical payments and property bills related to accidental damage of someone else’s property or a guest being injured at your residence. Personal property policy covers costs related to damaged or stolen personal items. There is also coverage for hotel costs or other additional living expenses if your rented residence is damaged or uninhabitable.

See More: Compare Car Insurance

Who offers bundles for car and renters insurance?

Most top insurance providers and many smaller insurers offer auto insurance policies, but not all insurance providers offer renters insurance. Insurance companies that provide home policies and options to bundle home and auto insurance do typically also provide renters insurance and bundling for their policyholders. Read on to learn more about offerings from various providers.

GEICO

Purchasing auto and renters insurance from GEICO typically makes customers eligible for a multi-policy discount that lowers the premiums of both policies. Further discounts associated with security and safety features—including fire extinguishers and burglar alarms—within a rented home, apartment, or condo open up options for customers to earn additional discounts.

Allstate

A significant discount is available to customers who take advantage of bundling auto and renters insurance with Allstate. More discounts are available for renters insurance policyholders, depending on the number of years they have remained claim-free. Adding renters insurance to an existing car insurance plan may cost as little as an extra $4 a month.

State Farm

State Farm offers fairly affordable renters insurance premiums for their customers, especially for those who choose to bundle their auto and renters policies. A home alert protection discount associated with installing a home or apartment security system is also available for renters, and customers can lower monthly premiums by signing on to a higher deductible.

Progressive

Bundling auto and renters insurance with Progressive allows customers to save on their premiums. On average, customers save around 4 percent on their auto policy as a result of bundling with a renters policy.

Nationwide

Renters coverage with Nationwide costs customers more per month than other companies—about $20 on average—but offers more extensive coverage than other providers. Discounts are available for bundling renters and car insurance coverage, owning security devices, and more.

See More: Best Car Insurance Companies

Saving the Most on Your Car and Renters Insurance Bundle

Steps to increase savings on your car and renters insurance bundle exist. Completing an inventory for yourself, accounting for the valuables and other personal items in need of coverage, helps you gauge how much property coverage to purchase with your renters insurance policy.

Another tool to decrease monthly premiums involves increasing your deductible to a higher, while still manageable, amount. It’s important to set your deductible to an amount you will not struggle to pay in the event of an emergency that requires filing a claim. Having a more expensive deductible also requires policyholders to be very intentional when filing any claims.

Due to the changing nature of insurance rates, considering new policies and providers at the time of policy renewal increases the chances of scoring the cheapest rates. Quote comparison tools like Insurify helps users decide on the best auto and renters bundling policy to meet their insurance needs at an affordable rate.

See More: Car Insurance Quotes

Other Car and Renters Insurance Discounts

Insurance providers offer a myriad of discounts on both separate policies and any bundled renters and car insurance policies to eligible policyholders. These discounts typically reward policyholders for owning safety features or security systems, making annual or in-full policy payments, and holding membership to certain organizations or specific professions.

Safety features and security systems that may result in car insurance discounts for policyholders include airbags, blind-spot detection, antilock brakes, and anti-theft systems. For renters insurance, these systems include protective features like home security systems, fire extinguishers, and smoke detectors to earn policyholders additional insurance discounts.

Membership to organizations like the AARP, the military, or AAA increases the chances of discount eligibility for insurance customers. Additional discounts typically exist for students and individuals with clean driving records. Decisions related to purchasing a policy, including making annual payments or signing up for electronic billing, often result in some insurance discounts.

How do you get a quote for both car and renters insurance?

Insurance agents can give you bundle quotes. This may be the best methodology for finding the best car and renters insurance rates available. Telling them that you want to bundle policies from the start ensures multi-policy discounts for those eligible. Many companies also provide online quotes for customers to determine bundling discounts.

See More: Cheap Car Insurance

Car and Renters Bundling: Pros and Cons

Pros

Purchasing bundled car and renters insurance policies typically results in lower monthly premiums for customers, allowing them to pay less than they would for separate policies. And, with bundling, customers pay just one monthly premium. In terms of convenience, getting auto and renters insurance in the same place makes communication with the provider easier.

Cons

Depending on an individual’s eligibility for various discounts or specialized coverage, bundling with one provider may decrease potential discount earnings available to them elsewhere. Ultimately, whether bundling makes the most sense for an individual depends on their insurance needs and eligibility for various discounts and specialized coverage available to them.

See More: Best and Worst Sites to Compare Car Insurance

The Best Way to Save on Car Insurance Costs

As discussed on this page, bundling auto and renters insurance typically saves people money on their monthly premiums for both policies. Choosing the insurance company that best matches a person’s insurance needs depends on the types of coverage they are looking for in their car and renters insurance, as well as the rates they are willing to pay for insurance.

Insurify’s comprehensive quote-comparison tool, coupled with up-to-date insurance provider information, allows users to find the best quotes to meet their specific insurance needs. Comparing car insurance quotes from the convenience of home removes the hassle associated with shopping for affordable car insurance rates. Try it for yourself today—happy comparing!

Frequently Asked Questions

  • This timing predicament does not need to derail your desire to bundle your renters and auto insurance. After deciding on which company to bundle your insurance with, purchase the policy that renews first with the chosen company. When the next policy is ready for renewal—whether auto or renters insurance—let the chosen provider know you want to bundle the two policies.

  • As always with insurance, no one-size-fits-all insurance company exists for bundling car and renters insurance. Insurance providers use different factors to calculate insurance rates and determine eligibility for discounts, meaning certain providers work best for some individuals and not others. Using Insurify’s quote-comparison tool helps users find the company best for them.

  • Finding the best insurance provider for purchasing auto, renters, and life insurance all in one place depends on the individual, as well as the providers. Policyholders will earn more discounts as they bundle more policies. Inquiring about specific benefits and multi-policy discounts from various insurance agents is certainly a good idea in this case.

  • With Insurify’s quote-comparison tool, users can compare quotes from multiple insurance providers with ease from the convenience of their homes. Having up-to-date quotes ensures individuals will be able to find the most affordable car insurance rates to meet their coverage needs and financial situation. Try it today for comprehensive results in a matter of minutes.

Compare Car Insurance Quotes Instantly

  • Personalized quotes in 5 minutes or less
  • No signup required
  • The car insurance quotes displayed are based on an analysis of Insurify’s database of over 40 million quotes from 500 ZIP codes nationwide. To obtain representative rates, Insurify’s data science team performs frequent comprehensive analyses of the factors car insurance providers weigh to calculate rates including driver demographics, driving record, credit score, desired coverage level, and more.

    Insurify’s analysis also incorporates the Insurify Composite Score (ICS) assigned to each insurance provider. The ICS is a proprietary rating that weighs multiple factors reflecting the quality, reliability, and health of an insurance company. Ratings used to calculate the ICS include Financial Strength Ratings from A.M. Best, Standard & Poor’s, Moody’s, and Fitch; J.D. Power ratings; Consumer Reports customer satisfaction surveys and customer complaints; mobile app reviews; and user-generated company reviews. 

    With the above insights and ranking methods, Insurify is able to offer car insurance shoppers insight into how various insurance providers compare to one another in terms of both cost and quality. Note, actual quotes will vary based on unique attributes including the policyholder’s driver history and their garaging address.

Katie Powers
Katie Powers
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Insurance Writer

Katie Powers is an insurance writer at Insurify with expertise in personal finance and auto insurance topics. She strives to help consumers make better financial decisions. Prior to joining Insurify, she completed her undergraduate and graduate degrees at Emerson College. Her work has been published in St. Louis Magazine, the Boston Globe, and elsewhere. Connect with Katie on LinkedIn.

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