Best Home and Auto Insurance Bundles 2024

Best Home and Auto Insurance Bundles

Best Home and Auto Insurance Bundles 2024 If you are looking to save time and money on insurance, purchasing both your home and auto insurance with the same company is a good option. Many insurance companies offer multi-policy discounts on auto and homeowner’s insurance bundles. To determine which companies offer the best home and auto insurance bundles, we evaluated insurers based on various factors such as bundling discounts, costs of auto and home insurance plans, and level of complaints received by the company. It is important to research different options before making a decision to find the best deal that suits your specific needs. Moreover, bundling your policies can also simplify your life as you only have to deal with one insurer for both your home and car insurance needs.

Outlines Of Guide

Best Home and Auto Insurance Bundles

When it comes to finding the best home and auto insurance bundles in 2024, there are a few key factors to consider. First and foremost, it’s important to compare quotes from multiple insurance providers to ensure you’re getting the best coverage at the most competitive price. Additionally, you’ll want to take into account the specific needs of your home and vehicles, as well as any additional coverage options that may be available. Some insurance companies offer discounts for bundling home and auto policies, so be sure to inquire about these potential savings. Lastly, don’t forget to read customer reviews and ratings to get a sense of each insurer’s reputation for customer service and claims handling. By doing your research and carefully comparing options, you can find the best home and auto insurance bundle that meets your needs in 2024.

Pros and Cons of Bundling Home and Auto Insurance

Combining home and auto insurance with a single company has benefits, but it may not always be the optimal choice. Here are some factors to take into account.

Pros of Bundling Home and Auto Insurance

Save money. Receive a bundling discount (also called a multi-policy discount) for buying home and auto insurance policies with the same insurance company. The average discount is 14%, which is savings of around $466 a year, according to our analysis.

Save time. Having only one insurance company to deal with for payments and customer service is convenient and can save you time.

Multiple policies, one account. You can manage your bundled home and auto policies under one online account or mobile app with many insurers.

Have a single deductible. Some companies, such as Progressive, apply one deductible to bundled home and auto policies if the damage is done to your house and car in one event. For instance, if a bad storm causes a tree to fall, damaging both your car and home, with a single deductible you’d pay one deductible for the incident instead of two separate deductibles.

Cons of Bundling Home and Auto Insurance

Not always the best buy. You may be able to find cheaper prices for auto and home insurance policies by buying them separately from different companies. It pays off to get quotes from a few insurers.

Not necessarily more convenient. If your car insurance company partners with a different home insurance company to give you a bundle discount, you won’t get perks like having one account. Instead, you’ll still have to deal with two companies for payments, services and claims. For example, home insurance through Geico comes from partner companies.

Doesn’t fit your needs. If you want certain coverage types that aren’t available with a company that bundles home and auto insurance, then it’s better to stick with a company that gives you the coverage you want. For example, not all home insurance companies offer extended replacement cost for situations where the cost to rebuild your house turns out to be higher than the dwelling coverage amount listed on the policy.

6. Best Home and Auto Insurance Bundles

  1. American Family
  2. State Farm
  3. Nationwide
  4. Auto-Owners
  5. Erie
  6. Farmers
  1. American Family

Why We Picked It

One of the reasons why American Family stands out in the insurance industry is its bundling discount, which offers great value to customers who combine their auto and home insurance policies. Moreover, American Family’s homeowners’ insurance rates are very competitive, making it an attractive option for homeowners looking for affordable coverage. The company has also received very few complaints in both auto and home insurance categories, indicating that it provides excellent customer service. While American Family’s auto insurance rates may be higher than some of its competitors, these other factors help offset this cost and make it a strong choice for those seeking comprehensive coverage.

American Family Car Insurance Pros & Cons

Pros

  • American Family has a very low level of complaints made to state insurance departments about auto insurance and homeowners insurance.
  • Homeowners insurance rates are very low.
  • Offers both extended and guaranteed replacement cost for dwellings for situations where rebuilding costs exceed your dwelling insurance limit.
  • New car owners can buy gap insurance.
  • Lyft and Uber drivers can get rideshare insurance from American Family.

Cons

  • Average car insurance costs are higher than many other top competitors that we evaluated.
  • Your home insurance may be affected by a banned dog list that makes owners of certain dog breeds, such as pit bulls and Chows, ineligible for coverage.
  • American Family is only available in 19 states and not nationwide.

States Available In

American Family offers home and auto insurance in 19 states:

  • Arizona
  • Colorado
  • Georgia
  • Idaho
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Minnesota
  • Missouri
  • Nebraska
  • Nevada
  • North Dakota
  • Ohio
  • Oregon
  • South Dakota
  • Utah
  • Washington
  • Wisconsin

2. State Farm

Why We Picked It

State Farm has emerged as the leading bundling discount provider among the companies analyzed. The insurance giant’s home and auto insurance offerings also come with low levels of complaints, indicating a high degree of customer satisfaction. Additionally, State Farm’s car and home insurance costs are competitive, making it an attractive option for those seeking affordable yet comprehensive coverage. These factors make it evident that State Farm is a top choice for customers looking for reliable and cost-effective insurance solutions.

State Farm Car Insurance Pros & Cons

Pros

  • Best average bundling discount (23%) of the insurance companies we evaluated.
  • Pretty good average renewal discount (14%) for staying at least three consecutive years with State Farm for your auto insurance.
  • Good average price for adding a teen driver to a parent’s car insurance policy.
  • A low level of complaints filed with state insurance departments about car insurance and a very low level for homeowners insurance.
  • Offers extended replacement cost coverage for houses that stretches your insurance limit when rebuilding costs exceed your stated dwelling coverage amount.

Cons

  • Highest average rates for drivers with poor credit among the companies we analyzed.
  • Doesn’t offer car insurance coverage options of accident forgiveness, new car replacement or vanishing deductible.
  • State Farm agents are knowledgeable about the company’s products but can’t help you compare other insurers.

States Available In

State Farm offers home and auto insurance in all 50 states and Washington, D.C.

State Farm Car Insurance Review

3. Nationwide

Why We Picked It

Nationwide is a reputable insurance provider that offers bundling discounts, add-on coverages, and has received very few complaints for both auto and home insurance. Bundling your car and homeowners’ insurance can save you money, and Nationwide provides a decent discount to make it more affordable. Moreover, the company offers helpful add-on coverages that can enhance your coverage levels beyond the standard policies. With its low level of complaints against it for both auto and home insurance, Nationwide is a reliable option for those seeking quality insurance coverage.

Pros & Cons Of Nationwide Car Insurance

Pros

  • Pretty good average home insurance rates.
  • Decent average car insurance costs for good drivers, parents adding a teen driver to their policy and drivers with poor credit.
  • Offers accident forgiveness, new car replacement and vanishing deductible options to add to an auto insurance policy.
  • No banned dog list for homeowners insurance.
  • Nationwide’s “dwelling replacement cost plus” options provide extended coverage under a home insurance policy.

Cons

  • High auto insurance costs for drivers who caused an accident with injuries or have a DUI.
  • Nationwide homeowners insurance is not available in Alaska, Florida, Hawaii, Louisiana, New Jersey, New Mexico and Massachusetts.
  • Nationwide auto insurance is not available in Alaska, Hawaii, Louisiana or Massachusetts.

States Available In 

Nationwide is a leading provider of auto and home insurance in the United States. They offer coverage in all states and Washington, D.C., except for Alaska, Florida, Hawaii, Louisiana, Massachusetts, New Jersey, and New Mexico. With a wide range of policy options and customizable coverage plans, Nationwide has become a popular choice for individuals and families looking for reliable insurance protection. Their commitment to customer service and satisfaction has earned them a strong reputation in the insurance industry.

4. Auto-Owners

Why We Picked It

Auto-Owners Insurance is an insurance company that has gained a reputation for offering low-cost car insurance policies and providing good coverage options for both auto and home policies. The company has also received positive feedback for having low levels of complaints against it. However, its bundling discount may not be as competitive as other providers, and its home insurance costs are relatively high. Despite these drawbacks, Auto-Owners Insurance remains a popular choice among customers who prioritize affordability and comprehensive coverage options.

Pros & Cons Of Auto-Owners Car Insurance

Pros

  • Pretty good car insurance costs for most drivers, including excellent prices for drivers who have caused an accident.
  • Extra auto insurance options for accident forgiveness, diminishing deductible, gap insurance and new car replacement coverage.
  • Offers guaranteed replacement cost for homeowners that’ll pay whatever it takes to rebuild your house after a disaster
  • Homeowners can get optional coverage for water backup of sewer or drains.
  • Auto-Owners’ optional Homeowner Plus package covers issues like appliance leaks and food spoilage from power outages.

Cons

  • There are cheaper car insurance companies out there if you have a DUI or poor credit.
  • Homeowners insurance rates are slightly higher than average compared to other top competitors.
  • May have a banned dog breed list or offer only limited liability coverage to owners of certain “aggressive” dog breeds.

States Available In

Auto-Owners offers home and auto insurance in 26 states:

  1. Alabama
  2. Arizona
  3. Arkansas
  4. Colorado
  5. Florida
  6. Georgia
  7. Idaho
  8. Illinois
  9. Indiana
  10. Iowa
  11. Kansas
  12. Kentucky
  13. Michigan
  14. Minnesota
  15. Missouri
  16. Nebraska
  17. North Carolina
  18. North Dakota
  19. Ohio
  20. Pennsylvania
  21. South Carolina
  22. South Dakota
  23. Tennessee
  24. Utah
  25. Virginia
  26. Wisconsin

Auto-Owners Car Insurance Review

5. Erie

Why We Picked It

Erie Insurance is an excellent option for those looking for affordable home and auto insurance. It offers a competitive bundling discount that can help you save money on your premiums. Erie also provides comprehensive coverage options for both homeowners and auto insurance, ensuring that you have adequate protection in case of an unexpected event. With its strong reputation for customer service and a straightforward claims process, Erie is a reliable choice for anyone searching for quality insurance coverage.

Erie Car Insurance Pros & Cons

Pros

  • Pretty competitive home insurance rates and a very low level of complaints made to state insurance departments about home insurance
  • Reasonable auto insurance prices for a variety of driver types.
  • Offers car owners gap insurance, new car replacement coverage, accident forgiveness and vanishing deductibles.
  • Offers homeowners both extended replacement cost and guaranteed replacement cost coverage that can provide additional rebuilding funds above your dwelling coverage limit.
  • Erie’s Extended Water covers natural disaster floods, which aren’t typically covered by standard home insurance, and other water damage.
  • Erie’s SecureHome policies include several perks, such as unusual coverage for misplacing and lost jewelry, watches, silverware, guns and more.

Cons

  • Available in only 12 states and D.C., so it might not be available to you
  • High average car insurance costs for drivers with bad credit
  • Erie maintains a banned dogs list that can affect some homeowners.
  • Has a higher-than-average level of complaints made about its auto insurance to state insurance departments. Most complaints against Erie are related to surcharges and premiums.

States Available In

Erie offers home and auto insurance in 12 states and Washington, D.C.:

  1. Illinois
  2. Indiana
  3. Kentucky
  4. Maryland
  5. New York
  6. North Carolina
  7. Ohio
  8. Pennsylvania
  9. Tennessee
  10. Virginia
  11. West Virginia
  12. Wisconsin

Erie Car Insurance Review

6. Farmers

Why We Picked It

Farmers Insurance offers a bundling discount that is quite attractive to customers, along with comprehensive coverage options for both home and auto insurance. Despite being relatively more expensive than some other insurers, Farmers has maintained a low level of complaints for these categories of insurance. This indicates that the company has been successful in balancing quality and affordability, which has led to its popularity among customers. The bundling discount offered by Farmers can help save money on homeowners and car insurance premiums while providing excellent coverage options and customer service.

Farmers Car Insurance Pros & Cons

Pros

  • Has optional car insurance coverages such as new car replacement and accident forgiveness
  • Offers homeowners extended replacement cost (at 25% or 50% over the stated dwelling coverage) or guaranteed replacement cost that will pay any amount to rebuild your house fully
  • No banned dog list for home insurance
  • A low level of complaints filed with state insurance departments about car insurance and a very low level for home insurance.

Cons

  • Has higher-than-average prices for most every type of driver compared to top competitors
  • Farmers home insurance prices are higher than many top competitors.
  • Does not offer gap insurance or vanishing deductible.

States Available In

Farmers sells auto and home insurance in all states except:

  • Alaska
  • Delaware
  • Hawaii
  • Maine
  • New Hampshire
  • Rhode Island
  • South Carolina
  • Vermont
  • West Virginia

Farmers Car Insurance Review

Who Offers the Biggest Home and Auto Bundling Discount?

State Farm provides the largest discount for bundling home and insurance, resulting in an average annual savings of 23%. According to Forbes Advisor’s assessment of ten major insurance companies, the average discount for bundling auto and home insurance is 14%, equating to an average yearly savings of $466.

Average Home and Auto Bundling Discount by Company

Company Average discount for bundling home and auto insurance Average annual savings for bundling home and auto insurance
State Farm 23% $787
American Family 18% $486
Farmers 18% $732
Allstate 15% $497
Erie 15% $535
Nationwide 15% $516
Travelers 11% $484
Auto-Owners 10% $214
Progressive 7% $226
USAA 6% $185
Average 14% $466

The Cheapest Home and Auto Insurance Quotes

According to our analysis of major insurance companies, Auto-Owners offers the most affordable bundled car and home insurance coverage, with an average annual cost of $1,878. While its average bundling discount is only 10%, it has the lowest final total price among the companies we assessed, highlighting the importance of comparing overall prices.

Cheapest Home and Auto Bundle Quotes

Company Bundled home and auto annual cost Bundled home and auto monthly cost
Auto-Owners $1,878 $157
American Family $2,178 $182
State Farm $2,587 $216
USAA $2,630 $219
Erie $2,645 $220
Nationwide $2,652 $221
Progressive $2,777 $231
Allstate $2,978 $248
Farmers $3,458 $288
Travelers $4,052 $338

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What to Look for When Choosing an Insurance Company

Choosing the right insurance company can be a daunting task, but there are several factors to consider that can help you make an informed decision. Firstly, it is important to research the financial stability of the company and their track record in paying out claims. You should also consider the coverage options and pricing that they offer, as well as any additional benefits or discounts available. Another crucial factor is customer service – look for reviews from current or past clients to gauge their level of satisfaction with the company’s support and responsiveness. Lastly, check if the insurance company has a good reputation in the industry, and if they are licensed to operate in your state or country. Taking these factors into account can help you choose an insurance provider that meets your needs and provides peace of mind.

Does it Offer a Bundling Discount?

Consider bundling your car and home insurance policies to potentially save money. Many insurance companies offer a multi-policy discount for purchasing both auto and home insurance from them. While bundling with one company may not always be the most cost-effective option, it’s important to compare quotes to ensure that the combined bundled price is better than purchasing separate policies from different companies.

Home and Auto Insurance Deductibles

The deductible options you select impact the quotes for your car and home insurance. A deductible refers to the sum subtracted from an insurance claim payment. Opting for higher deductibles results in lower claim payouts from your home or auto insurer, leading to a slightly reduced policy price. Certain insurers provide a combined deductible for bundled auto and home insurance, ensuring that you only have one deductible in the event of damage to both your home and car.

Does the Coverage Meet Your Needs?

Consider combining home and auto insurance for convenience, but it might not offer the best price or cover all your requirements. Prior to buying your policies, assess both the coverage and cost. If you need certain home or auto coverage types that are not provided by the top bundling insurance offers, continue to explore other options. Bundling is not beneficial if it does not meet your specific needs.

Home and Auto Insurance Overall Costs

The cost of car and home insurance is critical for most insurance buyers.

To find the cheapest price, compare home and car insurance quotes with multiple insurance companies.

How to Save Money When Bundling Home and Auto Insurance

Bundling home and auto insurance with the same insurance provider can save you a significant amount of money. Here are some tips to help you maximize your savings: 1. Shop around: Compare the costs and coverage of different insurance companies before choosing one. 2. Increase your deductible: Choosing a higher deductible can lower your premiums, but make sure you can afford it in case of an accident. 3. Ask for discounts: Many insurance companies offer discounts for bundling policies or having safety features installed in your home or car. 4. Review your coverage regularly: Make sure that you are not overpaying for coverage that you don’t need. 5. Maintain a good driving record: Most insurance companies offer lower rates to drivers who have no accidents or traffic violations on their record. By following these simple tips, you can save money while also ensuring that you have the right coverage for your needs.

Get the Right Coverage

Assess your coverage requirements and seek out combined home and auto insurance packages that meet those needs. When it comes to home insurance, collaborate with your insurance agent to obtain the estimated rebuilding cost of your home in order to determine the suitable dwelling coverage amount. Numerous companies provide supplementary coverage options for your home and car. Prior to investing in these discretionary coverages, ensure that you actually require them and can manage the costs. Determine the most suitable coverage for your home and vehicles before commencing the shopping process to maintain consistency in your selections when obtaining quotes.

Compare Quotes

It’s advisable to compare insurance quotes from a minimum of three companies when looking to save money on car and home insurance. Additionally, when seeking the best auto and home insurance packages, compare prices for both bundled and separate policies to find the most cost-effective option.

Make Sure All Discounts Are in the Insurance Quotes

  • Advance quote discount. If you shop and buy your policy before your current one expires, you can get auto and home discounts with some companies.
  • Anti-theft devices discount. If your car has anti-theft features, you may save on your car insurance costs. And for your home, you may get a discount for security items, such as deadbolts and a burglar alarm.
  • Claims free discount. Both auto and home insurance give discounts for you being claim free for a certain amount of time, such as three years or more.
  • Multi-home discount. You can get a home insurance discount if you insure more than one home with the same insurance company.
  • Multi-vehicle discount. Save by insuring more than one car with your insurance company.
  • New car discount. You may qualify for savings if your car is less than three years old.
  • New or renovated home discount. Newly built or renovated homes often qualify for discounts because of upgraded systems.
  • Pay in full discount. Paying your policy in full upfront can qualify you for a discount for your car and home insurance policies.
  • Paperless discount. Choose to get your policy documents and billings electronically, and you may save on home and auto policies.
  • Safety features discount. Safety features in your car, such as airbags and anti-lock brakes, can get you a discount on your auto insurance. Safety features for homes, such as smoke detectors, fire extinguishers and fire alarms may save you money on your home insurance.

Shop Regularly

If you’re looking to save on your home and auto insurance, it is crucial to keep an eye on insurance rates as they are subject to fluctuation. Shopping around for home and auto insurance quotes regularly can help ensure that you are getting the best deal possible. By comparing different quotes from various insurers, you can identify the most affordable options that provide adequate coverage for your needs. Additionally, updating your policy details regularly and maintaining a good credit score can also help reduce your insurance premiums.

Complaints Against Auto and Home Insurance Companies

Nationwide complaints against auto and home insurance companies highlight issues for some insurers, as indicated by the complaint ratio calculated by the National Association of Insurance Commissioners. The majority of companies analyzed showed low complaint levels for auto insurance, with only Erie and USAA car insurance exceeding the industry average.

Methodology

When searching for the best home and auto insurance bundles, it’s important to consider several factors. These include the company’s reputation, customer service, coverage options, discounts offered, and pricing. By evaluating each company based on these factors, you can determine which provider is the best fit for your needs and budget. It’s also a good idea to read reviews from current or former customers to get a sense of their experiences with the company. Comparing quotes from multiple providers can also help you find the most affordable option that meets your coverage needs.

Bundling discount (40% of score)

Quadrant Information Services provides valuable data that can help companies analyze bundling discounts. The average bundling discount for each company is calculated using this data, which can provide insights into how much consumers are saving by choosing to bundle their services. This information is also useful for insurance companies and other businesses that offer bundled products or services, as it can help them remain competitive in the market and attract more customers.

Auto insurance rates (20% of score)

Data from Quadrant Information Services was utilized to determine the average rates from each company for good drivers. The rates are calculated based on a 40-year-old female driver with a Toyota RAV4 and specific coverage.

  • $100,000 for injuries to one person, $300,000 for injuries per accident and $100,000 of property damage (known as 100/300/100).
  • Uninsured motorist coverage of 100/300.
  • Collision and comprehensive insurance with a $500 deductible.

Home insurance rates (20% of score)

We used data from Quadrant Information Services to find average rates for each insurance company for homes with dwelling coverage of $350,000.

Complaints about auto insurance (10% of score)

We used complaint data from the National Association of Insurance Commissioners. Complaints against companies are logged and monitored by each state’s department of insurance. Most auto insurance complaints center on claims, including unsatisfactory settlements, delays and denials.

Complaints about home insurance (10% of score)

We used complaint data from the National Association of Insurance Commissioners. Each state’s department of insurance is in charge of logging and monitoring complaints against the companies that operate in their states. Most home insurance complaints center on claims, including unsatisfactory settlements, delays and handling of the claim.

Faqs

What is homeowners insurance?

Home insurance covers a range of issues and pays for repairing or rebuilding your house and replacing personal property damaged by covered problems.

  • Falling objects (such as a tree onto your house)
  • Fire
  • Lightning
  • Riots
  • Smoke
  • Theft
  • Tornadoes
  • Vandalism
  • Windstorm and hail

Homeowners insurance also includes liability insurance—that pays for accidental property damage or injuries you’re found responsible for—and additional living expenses when your home is inhabitable due to a covered issue. Home insurance is essential to protect your investment in your home.

Is it worth it to bundle home and auto insurance?

You will know if it’s worth bundling your home and auto insurance once you get insurance quotes to see if it’s cheaper than buying individual policies.  The bundling discount is usually quite good, but there is no guarantee that bundling policies will be cheaper than buying individual policies from separate companies.

What insurance policies can be bundled together?

You may qualify for a multi-policy discount by combining two or more types of insurance coverage offered by a company. The most common bundles are for auto and home insurance. The types of insurance policies that can typically be bundled, depending on your insurer, include:

  • Auto
  • Boat
  • Condo
  • Home
  • Life
  • Motorcycle
  • Renters
  • RV
  • Small business
  • Umbrella

What is car insurance?

Car insurance provides coverage for damage and injuries caused accidentally to others when at fault in a car crash. Most states require liability car insurance, which compensates others in case of an accident for which you are liable. Full coverage car insurance not only includes liability coverage but also covers damage to your own vehicle. Collision and comprehensive coverage pay for repairs or total loss of your car due to various issues such as fire, theft, vandalism, severe weather damage, floods, falling objects, or hitting an animal.

Why do insurance companies want you to bundle?

Insurance companies prefer customers who combine their auto and home insurance policies as it increases their customer retention. Additionally, individuals who bundle their home and auto insurance are more likely to remain with the same company for an extended period. In response, most insurance companies that offer bundled homeowners and car insurance strive to provide policyholders with a seamless and convenient way to oversee their policies and payments through a single account.

Conclusion

Finding the best home and auto insurance bundle can provide you with peace of mind and significant cost savings. By combining your coverage, you can simplify your insurance management and potentially qualify for discounted rates. When shopping for a bundle, consider factors such as coverage limits, deductibles, customer service reputation, and overall value. By comparing different options and understanding your specific needs, you can find the perfect home and auto insurance bundle that offers comprehensive protection at an affordable price. Don’t hesitate to reach out to insurance providers to discuss your options and get quotes tailored to your unique situation. With the right bundle in place, you can confidently protect both your home and vehicles.

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