The most significant discount comes from bundling your auto policy with your homeowners policy. According to the insuranceQuotes.com study, the national average premium discount for bundling is 16 percent (up from last year’s 15 percent average discount).
auto and home insurance bundles quotes can help you save more money on your insurance coverage.
The study finds that people can save 16% of their total cost — $295 a year on average — if they buy both car insurance and homeowners insurance from the same company. In some states where insurance is more costly, consumers can pocket even more cash, according to an InsuranceQuotes.com’s report.
Below the biggest savings opportunities are now according to times:
And the opportunities for savings in insurance are increasing: In 36 states, the report found, bundling offers a bigger payoff than it did last year. Hawaii residents got the biggest improvement, with savings jumping 66% this year to $192 from $116 last year; Floridians saw a 65% increase in potential savings.
So it’s worth calling your agent about your insurer for a new quote. Just remember: You are most likely to save by bundling your coverage, the best practice for you is still to get quotes together and separately. Depending on the insurance provider, the value of the assets you’re covering, your location and the liability coverage you choose, there may be times when splitting your policies between different insurers will give you the best deal in your coverage.
See this video below from times.
So the question of Does Bundling Your Home & Auto Insurance Save Money? yes! you will save more money when you bundle your car and home insurance coverage.
Benefits of Insurance Bundles
Here are some advantages of bundling your insurance
- discounts on premiums and a combined deductible.
- if you purchase multiple policies from companies like Metlife and Home’s GrandProtect program, you will pay only the highest deductible in the event that several of their insured assets are damaged by one event, such as a storm or hurricane.
- If you have trouble keeping track of bills, bundling policies can prevent confusion
- customers who bundle policies are likelier to stay with a company for longer time. read more about this from insurancequote