Car Insurance for Homeowners
Is there a homeowners' car insurance discount?
How to get a multi-policy discount for car and home insurance
You can get a multi-policy discount from most major insurance providers by purchasing a homeowners policy and a car insurance policy from the same company. Have the below information on hand when beginning the quote-gathering process:
- Personal information of all drivers, including license numbers, dates of birth, and driving history — including a timeline of any violations
- Vehicle information (including VIN)
- Insurance history
- Personal information of all individuals living at the residence
- Estimated value of your property
- Estimated value of personal property
- Desired liability limit
- Itemized list of any valuables that may exceed homeowners policy limits
Most home insurance policies have personal property value limitations (usually $3,000-$5,000). If you have furs, fine art, or jewelry worth more than $5,000, consider adding more coverage.
For more information on this, see our in-depth guide to home insurance.
Which companies offer the best home and car insurance discounts?
Now that we’ve explored how to get a quote, let’s explore the companies offering the best discounts. With a general driving profile (see our methodology below), we surveyed some top insurance companies across the US and added a “homeowner” discount to the policy.
Nationwide offers the cheapest car insurance premium with the “homeowner” discount. Keep in mind, this isn’t a combined premium for home and auto — this is just the cost of an auto insurance policy with a homeowner discount applied. Because of the diverse nature of home policies, it would next to impossible to create a generalized profile to show this average cost.
Use this data as a starting point when searching for a home and auto policy. Assess as many companies as possible with your home and auto insurance bundled together.
Compare quotes from over 100 providers.
Simple tips to save on car insurance coverage
Now that we’ve outlined how to get car insurance as a homeowner, let’s go over some simple ways to save.
Be smart with your claims
Most insurance companies will raise your rates for three years after you file a claim. Before filing a claim, follow our guidelines:
- Get an estimate for the repairs at a local repair shop.
- Reference The Zebra's State of Insurance study to see how much an at-fault accident would raise rates in your state. Consider this cost over three years: that's how long your insurance company will charge you.
- Compare the out-of-pocket costs with the rate increase plus your deductible. If it's still cheaper to file a claim, do that.
There are times when you will need to a claim:
- If someone was injured. Because of how expensive medical expenses can be, it will probably be cheaper to let your liability coverage/healthcare handle this.
- If you are the at-fault driver and the not-at-fault driver does not want to be paid out-of-pocket for the repairs.
- If you suffer a total loss or extensive property damage
Keep in mind, you might be required to inform your insurance company after any accident as part of your policy conditions. Check your policy information to be sure.
Make sure you have the right coverage
Unlike your home, your car loses value over time. Meaning, you should evaluate your car insurance coverage when your car begins to age. The general rule of thumb in the insurance world is if your vehicle is worth less than $4,000, you do not need your comprehensive and collision. These coverages, unlike your liability coverage, are designed to protect your vehicle and are not required by law. But if your vehicle isn’t worth much to begin with, you might be paying for coverage you do not need.
You can determine the value of your vehicle through online resources such as Kelley Blue Book and NADA online. If it is determined you need more than your liability coverage, considering raising your collision and comprehensive deductibles. By raising your deductible, you take on a greater amount of financial responsibility in the event of a claim. Thus, you lower the premium on your personal auto policy.
|Avg. Annual Premium
The Zebra’s Dynamic Insurance Rating Tool data methodology — auto insurance
The auto insurance rates displayed throughout this page come from The Zebra’s Dynamic Insurance Rating Tool, a proprietary insurance premium estimator that uses the most recent rate filings across the United States at the ZIP code level to provide up-to-date rate data. Most insurance companies file car insurance rates one to two times a year. This data comes from Quadrant Information Services, which sources the latest approved rate filings across carriers in each state from S&P Global. Quadrant then uses an internal QA process to validate the information and build reports before the data is programmed into The Zebra’s dynamic rating tool.
Rates are based on a sample driver profile — a 30-year-old single male driver with a Honda Accord and full coverage at these levels:
- $50,000 per person/$100,000 per incident for bodily injury liability
- $50,000 per incident for property damage liability
- $500 deductibles for collision and comprehensive coverage
To provide insight to consumers on how specific personal factors (like age, location and coverage level) can affect your premium, this base profile is then adjusted for different factors commonly used by insurance companies. For more information, see our full data methodology.
Shop carefully for discounts
A big benefit of carrying home and auto insurance policies with the same company is the discount. Here are some other standard discounts for which you should be on the lookout.
- Good driver
- Good student discount (ages 16-25)
- Good/safe teen driving discount (pre-approved safety training course)
- Telematics programs
- Payment by bank account
- Paid-in-full discount
- eSignature discounts
- Paperless billing discount
- Multi-vehicle discount
While maintaining homeowners and car insurance with the same company is important, it’s only a small part of finding low-cost car insurance. The best way to finding the cheapest rate is to shop around. Most major car insurance companies will offer you multi-policy discount, so don’t limit your search. Enter your zip code below to get started today.
Get personalized insurance rates in less than 5 minutes.
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About The Zebra
The Zebra is not an insurance company. We publish data-backed, expert-reviewed resources to help consumers make more informed insurance decisions.
- The Zebra’s insurance content is written and reviewed for accuracy by licensed insurance agents.
- The Zebra’s insurance editorial content is not subject to review or alteration by insurance companies or partners.
- The Zebra’s editorial team operates independently of the company’s partnerships and commercialization interests, publishing unbiased information for consumer benefit.
- The auto insurance rates published on The Zebra’s pages are based on a comprehensive analysis of car insurance pricing data, evaluating more than 83 million insurance rates from across the United States.