Bundling Home and Auto Insurance: What to Compare
A bundle quote arrives, and you want to know what you would be giving up. A fair comparison looks at the combined cost, the coverage on each policy and which policy answers which loss, with both options quoted so the choice is yours.
This article is general information about how insurance usually works. Your policy’s own wording decides what it covers. Ask us about yours.
Short Answer
Bundling means one company writes both your home and auto policies. The comparison should consider the combined premium, and the limits, deductibles and exclusions on each policy. A car damaged by a storm in a garage is usually a claim under the auto policy’s comprehensive coverage, not the homeowners policy.
What Bundling Means
One company writes both your home and your auto policies. The price of each policy can change with the bundle, but the coverage on each does not change by itself, so check both policies line by line.
What to Compare
- The total cost of both policies.
- The comparison should consider the combined premium, not only the discount.
- The coverage on each policy.
- Compare limits, deductibles and exclusions, and note that a lower deductible means a higher premium.
- Which policy responds to which loss.
- A car damaged by a storm in a garage is usually a claim under the auto policy’s comprehensive coverage rather than the homeowners policy.
Quoting Both Ways
Ask for a quote on the bundle and on the two policies placed separately, and put the totals side by side. An independent agency can quote both ways because it represents you, not a single insurance company. You can quote auto and home online, or send your details for other lines.
Frequently Asked Questions
Does bundling home and auto lower the price?
The NAIC notes that insurers may offer lower prices for insuring a home and car with the same company. Compare the bundle against separate policies.
Is a bundled policy the same coverage?
Not necessarily, and nothing is guaranteed. Compare the limits, deductibles and exclusions on each policy.
Which policy pays for storm damage to a car in my garage?
It is usually a claim under the auto policy’s comprehensive coverage rather than the homeowners policy.