Bundling home and auto insurance is a smart way to save both time and effort. In this blog, we have covered various aspects of bundling that you need to know to secure the best bundle at the most affordable rates.  

Benefits of Bundling Policies

There are so many perks of getting a car and home insurance bundle. Here are a few primary reasons why bundling can be beneficial. 

Reduced rates 

When you bundle multiple policies with the same insurer, you might be eligible for discounted rates. This will lower your overall expenses on premiums. Companies like Allstate, Progressive and Travelers can offer discounts ranging from 5 to 25 percent for bundling. You might even get special discounts if you stay with the same company for a long time.  

Easy organization of policies 

When you bundle policies, you have access to all the relevant information in one place as well. Finding insurance documents, filing claims, checking coverage, asking questions and updating coverage can all be done with much more ease when you are associated with a single company. 

Time savings 

If you only must deal with one insurance provider for all your insurance processes, you can save a lot of time. No need to go through multiple communication channels, different paperwork, download several apps, visit many websites or talk to multiple agents to get things done.  

Loyalty benefits 

You can enjoy personalized consultation, priority customer service and additional incentives or discounts than what is normally offered for getting multiple policies from the same company.  

Convenient payments 

You only need to make payments to a single company. This makes it easier to keep track of payments and ask questions about your premium. 

Enhanced coverage options 

Some carriers provide additional coverage options to insurers who purchase multiple policies from them. Also, when you bundle policies, you create a more comprehensive protection for yourself by avoiding potential gaps. You might even be able to afford more coverage with the money you have saved through bundling. 

Top 5 Tips for Buying Affordable Home and Auto Insurance

If you want to decrease the cost of your home and auto insurance costs as much as possible, here are a few things you can do!  

Compare quotes and companies 

Get quotes from multiple companies and compare them before selecting one. But don’t just stop here. You should also consider comparing the types of coverage provided, coverage limits offered, and discounts offered by each company. Make sure to also compare the company along with the quotes they have provided. Check the financial stability and customer reviews of the company. You can also check how the companies have been rated by third party websites like Better Business Bureau. 

Manage your credit score well 

Credit score is quite an important determinant of your premium. Most companies view your credit score to assess the risks involved with you. Keep a clean and impressive credit history to get better rates. You should consider making on-time payments, avoiding unnecessary debts and paying down balances to keep a healthy credit score. 

Increase the security of both your home and car 

Make your home and car as safe as possible. Install anti-theft devices and necessary security systems to ensure better protection.  

Inquire about all the possible discounts 

Most insurance companies provide different types of discounts on their coverage. Learn about all the discounts available and check which ones are applicable to you. 

Bundle your policies  

One of the easiest ways to get a good deal is by bundling. When you get your home and auto insurance from the same provider, you can get discounts ranging from 5 to 25%. Bundling also saves your time and makes policy organizing a lot easier.  

Choose your coverage and deductible wisely 

Work with an insurance agent to determine the coverage you need. Getting insufficient coverage is never a good idea, but sometimes you might be signing up for coverage you don’t require any more. Revise your coverage with every new change or milestone in your life to make sure your current coverage aligns with your present situation. Make sure to also choose a higher deductible to decrease your premium rate. That deductible should be affordable enough for you to pay out front in case of any claim though.  

Best Insurance Companies to Bundle Home and Auto Insurance

Some of the best auto and home insurance bundle are offered by the following companies in 2024: 

State Farm 

State Farm is one of the largest insurance companies in the United States. Headquartered in Bloomington, Illinois, it operates as a mutual insurance company, meaning it’s owned by its policyholders. The company is well-known for its longstanding marketing slogan, “Like a good neighbor, State Farm is there,” which has been in use since 1971. State Farm has a vast network of over 19,000 agents across the country, providing personalized service to its customers. The company has consistently ranked high in customer satisfaction surveys and has a strong financial standing, as evidenced by its high ratings from major credit rating agencies. 

Pros 

• Impressive bundling discounts for loyal customers  

• A++ Financial Strength rating from AM Best 

• Affordable home insurance costs 

Cons 

• Car insurance does not offer gap coverage 

• Overall rates for car insurance are on the higher end 

• Few home insurance discounts 

Nationwide  

Nationwide, originally founded as Farm Bureau Mutual Automobile Insurance Company in 1926, has grown into a major player in the U.S. insurance and financial services market. Headquartered in Columbus, Ohio, Nationwide offers a diverse range of products including auto, home, life, and commercial insurance, as well as retirement plans and banking services. The company is recognized for its “Nationwide is on your side” slogan, which has been in use since 1965. In 2015, Nationwide made a significant change to its structure by converting from a mutual company to a stock company, although it remains privately held. The company operates through a network of both exclusive and independent agents across the country, providing customers with flexibility in how they purchase and manage their policies. Nationwide has also made substantial investments in digital capabilities to enhance customer experience and streamline operations. 

Pros 

• Impressive bundling discounts up to 20% 

• Several additional discounts for home insurance  

• Provides new car replacement and accident forgiveness in car insurance 

• Offers personalized service through a network of local agents 

Cons 

• Doesn’t offer policies in all the states 

• Below average score in JD Power’s Customer Satisfaction Study 2023 

Auto-Owners Insurance 

Auto-Owners Insurance, founded in 1916 by Vern V. Moulton, has maintained its status as a mutual insurance company throughout its history. Based in Lansing, Michigan, Auto-Owners operates in 26 states, exclusively through a network of independent insurance agents. Despite its name, Auto-Owners has expanded well beyond just auto insurance and is known for its comprehensive coverage options. The company has consistently received high marks for financial strength from major rating agencies, indicating its stability and ability to pay claims. Auto-Owners is also recognized for its conservative approach to expansion and investment, which has helped it maintain steady growth and financial stability even during economic downturns. The company prides itself on personalized service and claims handling, with most claims being processed locally rather than through centralized call centers. 

Pros 

• Low level of customer complaints 

• Impressive number of coverage options and discounts 

• Both home and car insurance rates are competitive 

Cons 

• Not available in all states 

• Rates are high for parents who want to add teen drivers to their auto insurance policy 

USAA

USAA, or the United Services Automobile Association, was established in 1922 by a group of U.S. Army officers who had difficulty obtaining auto insurance due to their perceived high-risk status. Based in San Antonio, Texas, USAA primarily serves U.S. military members, veterans, and their families, offering a comprehensive suite of financial services including insurance, banking, and investments. USAA operates as a member-owned association and is not publicly traded, which allows it to focus on serving its members rather than satisfying shareholders. The company has also been at the forefront of technological innovation in the insurance industry, being one of the first to introduce mobile check deposits and other digital services. 

Pros 

• Well known for customer loyalty 

• Very low number of complaints for both home and auto insurance policies 

• Provides very affordable auto insurance rates for good drivers  

• Offers banking and insurance products as well 

Cons 

• Does not provide services to everyone. Only offers policies to veterans, military personnel and their families  

• Discounts offered on bundling is quite low