Best Home and Car Insurance

Is bundling home and auto the best option? Find the best policy for you.

Best Home and Car Insurance


Outside of your own health insurance, most people have two insurable interests: your vehicle and your residence. Regardless if you own or rent these interests, you're more than likely to have insurance on them and they might be with the same company. While there are a lot of reasons to bundle any insurance policies you might have, there are also some circumstances when it’s not a good idea. Let’s explore the do’s and don’ts for bundling your homeowner’s and car insurance policy.


Best auto and home insurance
  1. Which insurance company gives the best bundling discount?
  2. Why shouldn’t you bundle?
  3. Why should you bundle?
  4. Tips for getting homeowner’s and car insurance quotes
  5. Additional resources




Best discounts on car insurance from bundling


In order to see which company has the discount for bundling either a renter, homeowner, or condo insurance policy, we created a user profile and generated quotes across some major insurance companies. Here are the results.


Best Bundling Discounts

Company Renters % Savings Homeowners % Savings Condo owner % Savings
Allstate $1,485 5.71% $1,383 9.49% $1,528 8.12%
Geico $1,346 5.15% $1,258 9.04% $1,383 7.58%
Farmers $1,326 5.12% $1,228 10.85% $1,386 9.27%
Liberty Mutual $1,384 5.06% $1,141 9.71% $1,421 7.72%
Nationwide $1,216 5.44% $1,141 9.59% $1,262 7.90%
Progressive $1,375 5.22% $1,282 9.77% $1,421 8.28%
State Farm $1,392 5.44% $1,307 9.01% $1,437 7.28%
USAA $1,407 4.78% $1,316 8.95% $1,446 7.07%

Please note: because of the complicated nature of homeowner’s, condo, and renter insurance, we were only able to quote for auto insurance with a "yes" or "no" bundled option. Meaning, the car insurance quotes only factor the fact they had a premium to bundle and thus these rates are only for car insurance policies.

As you can see, with a bundled policy, Nationwide is the cheapest company to get car insurance from with our user profile. However, Nationwide doesn’t offer the greatest discount. In fact, they’re pretty middle of the pack in terms of bundling discounts. Companies like Farmers and Allstate, while not the cheapest overall premium, offer a higher percentage of savings for bundling your homeowner’s insurance policy.

This takes us into our next topic of discussion: when you shouldn’t bundle your policy.





When shouldn’t you bundle your policy


While the appeal of a discount is always ever-present, there are some circumstances where you might not want to bundle. Let’s explore.


If you’ll lose or limit your insurance coverage

Because homeowner’s and car insurance companies are backed by different risk analyzers, they view risks differently. For example, some homeowner’s insurance companies will either charge you more or flat out deny you insurance coverage based on your dog’s breed. While your dog’s breed has absolutely nothing to do with your car insurance, your dog is covered under your homeowner’s (or renter or condo) insurance via your liability policy.

If you switch your homeowner’s from a company that doesn’t exclude or limit your liability coverage simply because you have a German Shepherd to one that does, you may be hurting yourself in the long run simply for a 5-10% discount.

This isn’t restrictive to dogs. If you have a trampoline, pool, or other potentially risky belonging, you should speak with a potential insurance company to see if there are any limitations on your liability coverage (or any other type of coverage) before bundling.



If the discount isn’t worth it

If the value of premium you save by bundling isn't greater than what another company would offer without a discount, it’s not worth it. Some insurance agents will quote you for a bundling discount if you’re trying to leave their company, but often times there’s still a cheaper insurance company elsewhere. Meaning, their 5-10% discount is still more expensive than another insurance company's non-discounted premium.

For example, while Allstate and Farmers offer a large discount for bundling, their premium still isn’t lower than Nationwide (with and without a renter’s discount added) for our user profile. So, even if you save a couple bucks by bundling, you might still want to look for a different car insurance company if they’re too expensive.

Despite these negatives, there are some reasons to bundle your homeowner’s and car insurance. Here’s why.





Advantages of bundling


Outside of the obvious financial incentive to bundle your homeowner’s and car insurance policies, there are some additional incentives to keep it within the family. Let’s explore.


Convenience

What’s worse than dealing with an insurance company? Dealing with two insurance companies. By bundling, you reduce the number of insurance companies you have to deal with. While your billing might not necessarily align, you do limit the number of agents, customer service reps, and other things insurance-related things you have to deal with.





Tips for finding homeowner’s and car insurance rates


If you’re in the market for homeowner’s and car insurance together, keep these tips in mind:


  • Check to make sure the insurance company you choose has a good a claim and customer service history; if you’re only going to be dealing with one insurance company, let’s hope they’re a good company to work with.
  • Verify that your insurance coverage won’t change after you bundle. Not all policies are treated equal and you want to make sure the other insurance company doesn’t have certain restrictions that can limit your coverage.
  • Do the math: if you’re only bundling to save money (which is fair) make sure the discount you receive is worth it. Look at the premium you received when you were not bundling versus your new bundled premium.




Additional Resources


As promised, here is some specific information regarding homeowner’s, condo, renters, and more information on saving for auto insurance.



Here are some top insurance providers for a combined homeowner’s and car insurance policy

Compare over 200 insurance companies at once!




Method to Our Madness: how we do it


Between September and December 2017, The Zebra conducted comprehensive auto insurance pricing analysis using its proprietary quote engine, comprising data from insurance rating platforms and public rate filings. The Zebra examined nearly 53 million rates to explore trends for specific auto insurance rating factors across all United States zip codes, averaged by state, including Washington, DC.

Analysis used a consistent base profile for the insured driver: a 30-year-old single male driving a 2013 Honda Accord EX with a good driving history and coverage limits of $50,000 bodily injury liability per person/$100,000 bodily injury liability per accident/$50,000 property damage liability per accident with a $500 deductible for comprehensive and collision. For coverage level data, optional coverage (that must be rejected in writing) is included where applicable, including uninsured motorist coverage and personal injury protection.

National property and casualty losses information is from the Insurance Information Institute and the NOAA National Centers for Environmental Information U.S. Billion-Dollar Weather and Climate Disasters report.

For vehicle make and model data, analysis referenced the most popular vehicles in the U.S. by 2016 year-end sales according to Goodcarbadcar.net’s automakers’ data.

Finally, some rate data may vary slightly throughout report based on rounding.

Additional Resources:

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