There are huge advantages to combining your auto and home insurance with a
single company. The biggest and most direct benefit is getting a
multiple-policy discount. However, it goes beyond that, and the advantages can
work out nicely in the policyholder's favor. Let's look at the numerous
variables on why this really works to your advantage.
The combined auto-home or multipolicy discount, as some companies call it,
can result in some real savings; in many cases, it can amount to hundreds of
dollars per year. The best part of this is that the discount applies to both
policies and, depending on the company, often ranges from 10% to 20% off the
total price. Let's say you own three cars and a home. Your auto policy runs
$2500 per year and your home policy runs $1000 per year. Let's further state
that the auto discount is 10% and the home discount is 15%. This would result
in $250 off the auto insurance and $150 off the home insurance. Combined,
that's $400 savings per year.
Single Online Portal
Most companies give you online access, and, when you combine your policies,
you only need one log to access all your documents and online needs. Nowadays,
consumers have so many websites they need to access and so many passwords they
need to save, having single access simply eliminates another portal that you
may need access to. It also simplifies your life.
Umbrella policies give you upper-tier liability coverage, and many companies
require that you have both policies to qualify for these low-cost/high-coverage
policies. If you have equity in your home, financial assets, and you make good
wages, you would want to secure an umbrella policy in order to protect your
assets and future earning power due to a catastrophic auto accident or serious
liability incident that may occur in your home. Combing your auto and home is
the starting point to qualify for this type of a policy.
With cost savings, a single point of contact, simplify and qualifying for
extra coverage, having a single company really goes a long way toward bringing
great value to your insurance program. This is why insurance agents often times
will recommend a single company and would want to quote your personal insurance
with one company. If you do not have your insurance with one company, you would
likely do yourself a huge favor by asking your agent to either combine these or
consolidate your insurance if you have more than one agent.