Bundling your home and auto insurance is one of the easiest ways to trim expenses. While your
state of residence has a significant influence on exactly how much you can save, a recent study
found that policyholders who bundle save an average of 16.1% or $322 a year. Lower insurance
premiums may be the main attraction, but sticking with one insurance provider offers additional
benefits that go beyond your wallet. A recent JD Power study found that homeowners who
bundled their home and auto policies were more satisfied with their providers than non-bundlers.
Here are 10 more reasons you should bundle home and auto insurance policies.
1. There's A Single App for That
Mobile apps are great. But, when they overwhelm your home screen, they can become a
nuisance. When you bundle your home and auto insurance, you can delete at least one insurance
app and regain precious memory on your device. With one app, you can file a home or auto
claim, access your ID cards, request roadside assistance, make payments, and even contact your
2. One Insurance Agent Who Knows You Better
When you have one agent handling both your home and auto insurance policies, they might be
able to better match you with endorsements and coverage amounts that reflect your actual needs.
By understanding more of your financial picture, they can present policy options that match your
3. Policy Management Just Got Easier
We've already mentioned how using one app and one agent to manage your home and auto
insurance needs can save time and device memory. But, mobile policy management offers
additional perks. Many insurance companies allow you to ask policy-related questions in-app
24/7. There's no need to make multiple phone calls regarding each policy when you can submit
them via one app.
4. Lower Deductibles Are Possible
A single insurance carrier might be able to offer one deductible for your home and auto
insurance. Policies vary by state and company, but you might benefit from a streamlined
deductible. For example, if torrential weather damages both your home and vehicle at the same
time, you might only need to pay a single deductible even though there are two claims. While not
guaranteed, you might also be able to secure a lower overall deductible if you bundle your
5. Multi-Policy Discounts Are Only the Beginning
Bundling home and auto insurance with a single insurance carrier may only scratch the surface
of the available discounts. Once you've met their bundling requirement, consider multi-line
discounts. For example, adding life insurance or boat insurance might help keep even more
money in your pocket.
6. Better Customer Service
The reason people who bundle their insurance are more satisfied than non-bundlers may have
something to do with the level of customer service they receive. Companies want to keep your
business, especially when you give them more of it. Think rewards programs for airlines and
hotels. While insurance companies don't offer the same rewards, you might receive better
customer service if you hold multiple policies with a single carrier.
7. Streamlined Monthly Payments
Managing your finances becomes easier when there is one less bill to pay. Some insurance
companies allow you to align billing statements. When you bundle your insurance, you might be
able to make one payment each month instead of two.
8. Multiple Claims May Not Be as Harmful
While you don't plan on filing multiple claims, life happens. And, when those claims are all
under one policy, you might be viewed as a high risk. The way an insurance company handles
the situation, e.g., canceling your policy or rising rates, may be influenced by whether you have
multiple policies with the company.
9. Save Time
Completing applications and claim paperwork may be less time consuming when you have a
bundled policy. You can avoid managing multiple policies when you have one go-to agent or
10. Flexible Policy Changes
Your insurance needs will change. Whether it's the addition of a teenage driver, purchasing a
home, or adding another vehicle to the household, dealing with a trusted agent through life
transitions can simplify the process.
If your policy renewal date is fast approaching, explore your coverage options. Bundling your
insurance can provide an opportunity to reduce expenses while obtaining better customer service
when compared to your current providers. Shop around before making your final decision.
Policy discounts vary by carrier.