Bundling car insurance with homeowners’ policies

One of the biggest and often missed opportunities to reduce car insurance premiums is to bundle car insurance with a homeowner’s insurance policy. Both are requirements and essential insurance packages. Getting them from one provider instead of two can save 10 to 30 percent on premiums.

Insurance companies like to be the sole provider for multiple insurance policies because it encourages loyalty. Shopping for insurance for multiple vehicles and a home seems more daunting to customers than simply shopping for one.

While bundling car and homeowners insurance saves on premiums, it can also offer a few other benefits. Having homeowners and auto policies with separate insurers could result in a gap in coverage. Getting both policies from one insurance provider guarantees that if your belongings are damaged in your vehicle, there won’t be any argument about which carrier is responsible for the claim.

It also allows the driver and homeowner the ability to easily deal with one agent for both of these important insurance policies.

The only tricky part is for those homeowners who bundled their insurance premiums with their mortgage payments. The savings, however, of bundling with car insurance is often worth the hassle of removing homeowners insurance from the escrow agreement.

Bundling isn’t just for those who own their homes either. People who rent in apartments should also consider bundling renter’s insurance policies with their car insurance for savings.