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Compare Home and Auto Insurance: Quotes, Discounts for 2022
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One of the easiest ways to save some money on insurance is to bundle different types of plans, such as your home and auto coverage. Buying multiple insurance products from the same company could potentially save you hundreds of dollars each year. We’ll help you understand bundling discounts and review companies that offer some of the best deals.
When you’re ready to start shopping, the Insurify price-comparison tool makes it easy for you to get insurance quotes from multiple companies at once. Getting quotes never affects your credit.
Insurers know that you have a lot of coverage options, and each company wants you to buy as many types of coverage from them as possible. That’s why most insurers offer multi-policy discounts, which can save you 10 to 25 percent. (The average is around 17 percent.) Many companies will automatically apply a discount if you’re purchasing more than one policy.
As an example, let’s say your car insurance is $2,000 a year and your homeowners insurance is $1,000, for a total of $3,000 annually. By bundling, you could potentially save $300 to $750 each year.
But there are scenarios where it would be cheaper for you to use different companies for your various types of insurance. For example, buying a cheap car insurance policy from Company A and a cheap homeowners insurance policy from Company B might cost less than a discounted bundle at Company C. This is why it’s so important to shop around and compare prices.
And before you bundle, make sure that you fully understand your insurance needs. A lower sticker price with bundling might sound good up front, but if it means insufficient coverage or a sky-high deductible, you could end up spending much more in the event of a major loss.
Buying your auto and home policies from the same provider has perks beyond cost savings. You’ll likely have fewer hassles because you can pay for and manage both types of insurance through the same web portal or mobile app.
Bundling policies might make it easier to find insurance coverage, too. For example, if you have a high-risk home that’s expensive to insure, a company could be more willing to cover it if you’re buying auto insurance from them, too. Plus, bundling policies could help you find more affordable car insurance.
Some insurers even offer a reduced or consolidated deductible option for unfortunate scenarios where a home and vehicle are destroyed in the same event.
Another benefit of bundling is insurance security—companies are often less likely to drop policyholders who buy multiple plans from them. This could be especially useful if you make auto claims or get tickets.
Many people already have car insurance before becoming a homeowner. If this is you, call your local agent to ask about adding home insurance.
But don’t automatically go with your current insurer. You’ll want to compare prices from multiple companies to find the best price for the coverages you need.
If bundling requires you to switch to a new company, make sure to check if your current insurer has any cancellation fees. And give your current insurer at least 30 days of written notice that you intend to cancel. You need to have your next insurance plan already lined up by this point.
It’s very important that you don’t have any lapses in coverage, especially for car insurance. Having a lapse of even 30 days can increase your car insurance rate by 10 percent because it indicates that you might be high-risk to insure. A lapse of more than 30 days could spike your premiums by more than 30 percent.
You’ll also want to be wary of third-party “bundles.” This is when you get a discount for buying multiple policies, but the policies are actually from different companies. In such cases, you lose the convenience and relationship-building benefits of bundling with a single insurer.
The companies below, listed alphabetically, offer some of the best deals for bundling. But these aren’t the only insurers that give discounts for buying multiple policies, so be sure to get quotes from multiple companies in your area.
When you’re comparing insurance options, remember that the price of your monthly premium isn’t the only consideration. You should also think about what policy features you need as well as characteristics of the companies, like financial strength and customer satisfaction ratings.
A company’s A.M. Best rating measures its ability to meet its financial obligations, including paying out claims. The best score is A++, and the worst is S, meaning suspended. Customer satisfaction is measured by J.D. Power surveys, with a maximum score of 1,000.
Last but not least, read the fine print of each individual policy to ensure you have all the coverage you need to protect your personal property and meet your state’s and mortgage lender’s requirements. It’s a good idea to speak to an insurance agent before you lock in on a plan.
You’ll find the biggest bundling discount with Allstate—up to 25 percent off. It offers a wide array of policy options, which means you have a good chance of finding the best plans for your coverage needs.
One of the best perks from Allstate is its Claims Satisfaction Guarantee. If you need to file a claim but end up unhappy with the process, Allstate will refund your six-month premium for free. Not surprisingly, it has a good customer satisfaction rating (870). And its A.M. Best rating of A+ means you’re in good financial hands.
But while a 25 percent discount sounds great, remember that the biggest discount doesn’t necessarily mean the best price. Allstate home insurance premiums are among the highest out there, so it’s not guaranteed that you’ll find the best price with this company.
GEICO is the second most popular insurance company in the U.S and holds an A rating from A.M. Best. Its policies are available in every state and in Washington, D.C. It has multiple insurance products that can be bundled.
Insuring multiple vehicles with GEICO could cut your rate by 25 percent. It even offers car insurance for people who use their vehicles commercially, such as delivery or rideshare drivers.
However, GEICO works with partner companies to provide many types of its insurance, so customer satisfaction may vary. You’ll want to ask if all the policies you bundle are directly through GEICO or through affiliates.
Nationwide’s typical bundle discount is on the upper end, at 20 percent; plus, its homeowners policies are among the most affordable. It offers multiple other discounts and coverage add-ons, too.
If you’re a driver under the age of 25, though, your car insurance rates might be higher with Nationwide than with other companies.
Nationwide has a strong A.M. Best score of A+ and ranks well (876 score) in J.D. Power customer satisfaction surveys.
Nationwide policies aren’t available everywhere, though. It doesn’t offer car or homeowners insurance in Alaska, Hawaii, Louisiana, or Massachusetts, and it doesn’t offer homeowners plans in Florida, New Jersey, New Mexico, or Rhode Island.
This company offers some of the cheapest bundling options available, even though its percentage discount is often lower. Unlike other companies, it even lets you compare prices from competitors. Progressive also has a wide selection of plans and add-ons to choose from, increasing the likelihood that you’ll find the type of coverage you need.
If you decide to go with Progressive, be sure to ask about its selection of additional discounts for your home and auto coverage, including going paperless and adding home security systems.
And you can rest assured that you’re in trustworthy hands. Progressive earned an A+ rating from A.M. Best and a score of 862 out of 1,000 in J.D. Power customer satisfaction surveys.
However, some of its bundled plans include policies by third-party vendors, which means you’ll be dealing with separate insurance companies. Be sure to ask about this before you buy bundled plans from Progressive.
State Farm is the largest home insurer in the country, in part because it’s available in every state. You can expect bundling discounts of up to 20 percent. A unique benefit of this insurer is that its homeowners policies adjust to inflation.
It has a very strong financial security rating of A++ and a good customer service score of 876 out of 1,000. State Farm is also known for having good digital tools.
Additional discounts through this insurer vary by state. And while it has an array of add-on options, its standard home insurance plans don’t include full replacement cost—this coverage must be added on.
This insurer is only for military personnel, veterans, and their families. It has an A.M. Best rating of A++ and offers a bundling discount of up to 10 percent. It offers several other discounts, including for clean driving records, installing an alarm system in your home, and going claim-free.
Plus, its coverage also includes identity theft protection, which you usually have to buy as an add-on.
On the downside, USAA offers fewer home insurance options than other companies. It also has few physical offices, though this might not matter to most policyholders.
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If you need more than just home and auto insurance, you might find additional savings by bundling all your insurance needs with a single company.
Did you just buy a motorcycle, boat, or RV? Do you need insurance for your pet? Do you have or want life insurance? If so, ask your current insurer about options for bundling those coverages. If your current insurer doesn’t offer all the insurance products you need, get quotes from other insurers to see if you can get a deal.
Most insurance companies offer discounts for things that make you less risky to insure.
For example, your home insurance rate could be reduced if you install an alarm system. You could also save by making your home more disaster-resistant by adding storm shutters, reinforcing your roof, or upgrading your heating/plumbing/electrical systems.
And you might get better car insurance rates if you insure multiple vehicles or go multiple years without an accident or ticket (often called a “safe driver discount”). If you have a young driver on your policy, you might be able to save money if they take driving courses or if they’re a good student.
Many insurers also offer loyalty discounts if you stay with them for several consecutive years.
Your insurance rates could go down when you turn 25, get married, have a baby, or improve your credit score. Call your insurance company if you pass one of these milestones.
No matter what kind of insurance you’re buying, you should always shop around to find the best price. Similar plan(s) could be priced differently across companies. The Insurify quote comparison tool lets you get quotes from multiple insurers with the click of a button. You should get quotes annually—it never hurts your credit score, and you might find additional savings.
To save money! Bundled plans are often (but not always) cheaper. Plus, it’s more convenient to work with a single insurance company than two.
You definitely want renters insurance. Many companies allow you to bundle renters coverage with your auto plan.
If you own a condo (as opposed to a freestanding home), you’ll want to get condo insurance. There’s a good chance you can bundle this with your car insurance and/or other insurance products.
The potential cost savings vary by company, but you could save up to 20 percent. Insurance rates are determined by many factors, including where you live, what type of home or car you have, your age, your credit score, your insurance history, and even your marital status.
Insurify makes it fast and simple to compare quotes. Just answer a few questions about your driving history and vehicle, pick your perfect coverage levels, and choose a policy from top providers. Start saving today!
Shopping around for home and auto insurance quotes is essential to saving money on coverage, whether you bundle or not. Insurify makes it easy to see prices and discounts across several companies with its handy comparison tool. You’ll get personalized quotes, and you can buy online or over the phone with a real live agent.
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.