Best Insurance Companies for Bundling Insurance
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You’ve likely felt the sting of increased insurance premiums over the last couple of years, including for car and homeowners insurance. Bundling more than one policy from the same insurance company is a super simple way of earning an additional discount, which can mean substantial savings for your policy.
If you’re looking for a way to reign in the sky-high insurance costs, consider asking the insurance carrier how much you can save if you have more than one policy. Keep in mind, you don’t have to limit it to only car and homeowners insurance policies either–some providers offer bundling discounts for condo, renters, boat–even life insurance. Plus, it means one less third-party company you have to deal with, and you can streamline your monthly payments. Let’s take a closer look at the best bundling companies so you can start saving today.
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Benefits of bundling insurance
Bundling insurance, which involves purchasing multiple types of insurance (such as auto, home, and life insurance) from the same provider, can offer several benefits to consumers.
- Cost savings. One of the most significant benefits is potential cost savings. Insurance companies often offer discounts or reduced premiums for bundling policies together. This can result in lower overall insurance costs than purchasing each policy separately.
- Convenience. Bundling insurance policies with a single provider can streamline the administrative process. Instead of managing multiple policies with different companies, consumers deal with only one insurer for all their insurance needs. This simplifies tasks like making payments, updating information, and filing claims.
- Simplified coverage. Bundling insurance can help ensure no gaps or overlaps in coverage. Since the same insurer manages policies, they can better coordinate coverage across different types of insurance. This can provide more comprehensive protection and peace of mind for consumers.
- Improved customer service. Working with a single insurance provider for multiple policies can improve customer service experiences. Consumers have a single point of contact for any questions, concerns, or claims, making getting assistance easier.
- Additional benefits. Some insurers offer additional perks or benefits for customers who bundle their insurance policies. These could include accident forgiveness, loyalty rewards, or access to special insurance discounts and promotions.
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Most common insurance bundles
The most common insurance bundles typically include combinations of the following types of insurance:
Auto and home insurance bundle
This is one of the most popular bundles, where consumers combine their auto and homeowners or renters insurance policies. Bundling these policies often results in significant discounts from insurers. Several companies offer the best home and auto insurance bundles at competitive rates.
Auto, home, and life insurance bundle
Some insurance companies offer packages that include auto insurance policies, home insurance coverage, and life insurance policies. This comprehensive bundle fully covers personal property and life-related risks, offering convenience and potential cost savings.
Home and renters insurance bundle
For renters who don't own a vehicle, bundling renters insurance with homeowners insurance isn't an option. Instead, they can bundle their renters insurance with other types, such as auto or life insurance.
Auto and umbrella liability insurance bundle
Umbrella insurance provides additional liability coverage beyond the limits of standard auto and homeowners insurance policies. Bundling auto insurance with umbrella liability insurance can offer increased protection against costly liability claims.
Health and Dental Insurance Bundle
Some insurers offer health and dental insurance bundles, covering medical and dental expenses. Bundling these policies can simplify healthcare coverage and may result in cost savings.
Business insurance bundle
For small business owners, bundling various types of business insurance, such as general liability, property, and workers' compensation insurance, can provide comprehensive coverage at a discounted rate.
These are just a few examples of common insurance bundles, but many other combinations are available depending on the insurer and the consumer's specific needs. Bundling insurance can offer convenience, cost savings, and comprehensive coverage across various life and property protection aspects.
Best insurance companies for bundling overview
Provider: | Best for: |
Nationwide | Selection of insurance products |
State Farm | Auto insurance coverage |
USAA | Military families |
Allstate | Online quote and purchase |
GEICO | Numerous discount opportunities |
Progressive | Digital experience |
Farmers | Most bundling options |
Nationwide
Nationwide offers several bundling discounts. However, it only lists a specific percentage for bundling home and auto. If you own a home, have a car, and choose to insure both through Nationwide, you can expect about 20% savings on your auto policy. This can add to significant savings on an auto policy, equaling hundreds of dollars annually.
Nationwide has a generous number of multi-policy discount combinations, including:
- Auto and homeowners
- Auto and renters
- Motorcycle and renters
- Multi-car
- Boat and auto
Nationwide offers a full lineup of insurance products, ranging from vehicle and property coverage, to commercial, life insurance, pet insurance, flood coverage and more. In addition to its wide selection of the various types of coverage and several bundling options, Nationwide offers other discounts for greater savings. These discounts include automatic payment, Safe Driver, Defensive Driver, protective devices for your home, and numerous others.
State Farm
State Farm offers fewer discounts than other providers, but it does offer a bundling discount. In the J.D. Power survey, it ranked in the top five for customer satisfaction.
State Farm discounts those who purchase two or more qualifying policies. You can receive this bundling discount for life insurance, homeowners, condos, renters, and car insurance policies. State Farm also puts all your policy information together in its mobile app for even more policy management convenience. While this may sound like a basic feature, not all insurance companies give you access to all of your policies through their app.
Additionally, if you include two or more vehicles on your auto policy, you receive a multi-car discount of up to 20%.
If you do choose an auto policy with State Farm, you’ll have access to features and coverage for an auto policy you don’t always find with each provider, including:
- Emergency roadside assistance
- Expansive car rental and travel coverage
- Rideshare driver coverage (Uber, Lyft, etc.)
- Teen drivers
- Antique and classic car
- Sports cars
- Commercial auto
USAA
USAA offers insurance products to active duty and former military members with an honorable discharge. It’s widely known for the best rates, exemplary customer service, and a wide array of financial products. Although it has strict eligibility requirements, it does offer an extensive selection of insurance policies, including homeowners, renters, auto, condo, life insurance, and many others. It also tailors coverage to military members, with unique policy inclusions such as reduced insurance rates if you face a deployment.
Among USAA’s lineup of available discounts, it offers discounts for bundling homeowners (or condo) or renters insurance with an auto policy. With these two qualifying policies, you can save up to 10%. This is in addition to other discount opportunities such as loyalty, family, vehicle storage, military installation, and others. Once you lock in a policy, you’ll have access to multiple benefits, including a mobile app, flexible payment plans, and so much more.
Allstate
Allstate offers generous bundling discounts among several of its insurance options. If you purchase a homeowners and auto policy, you can save up to 25%. This also applies if you bundle your auto insurance with condo insurance. Allstate is one of the few providers offering a bundling discount if you have motorcycle insurance and choose to combine it with renters. For those who choose an auto policy with Allstate, they’ll have access to a full suite of add-on coverages, such as roadside assistance, classic car insurance, custom equipment coverage, and more.
Policyholders also have access to the Allstate app, so you can conveniently manage all aspects of your policy on the go. Another convenience Allstate offers is getting a free quote online. Many of the insurance providers do not offer this as an option, forcing you to call customer service or work with a local insurance agent. If you’re satisfied with your insurance quote, you can quickly start enrolling in a new policy.
GEICO
GEICO offers a large assortment of discounts across many of its insurance lines, including auto insurance. Bundling is one of the many savings opportunities you can find with GEICO and when you bundle your home and auto policies (or renters insurance). GEICO doesn’t disclose how much of a discount you can get. Still, it does share other discount information, including military, employer, defensive driving, and a long list of others that can add up to a generous amount of savings.
GEICO offers more than discounts; it also offers auto policy add-ons such as mechanical breakdown coverage. This optional coverage provides coverage for repairs (similar to an auto warranty), so you’re not faced with a sky-high repair bill you have to pay out of pocket. GEICO policyholders also have access to the mobile app, and you can start an online quote process before making your final policy selection.
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Progressive
Progressive doesn’t offer as many bundling opportunities as other providers. Still, it’s worth considering if you have a homeowners, renters, or condo policy and need an auto policy, too. Progressive doesn’t disclose the amount of savings but says the average bundling discount is worth 7%. Remember that the bundling discount may not be available in all states with Progressive, but you can easily confirm the availability online with a quick quote sampling.
Bundling with Progressive makes it more convenient for policyholders because they can consolidate their coverage under one provider and fully manage their policies online, through 24/7 customer service, or through the mobile app. Both the online portal and mobile app are quite user-friendly, and the app is also highly rated.
Farmers
Farmers stands out among this list of providers for its generous number of bundling opportunities. While most providers limit the bundling to home/renters/condo/auto, Farmers offers it for many products.
Combining home and auto can help you save at least 10% or more, and the savings increase as you add more cars to your policy as well. You can bundle numerous policies, including;
- Home
- Renters
- Condo
- Mobile home
- Life insurance
- Boats and other recreational equipment
- Motorcycle
- Umbrella liability policies and more
Summary of the best insurance companies for bundling
Provider: | Bundling discount applies to: | Amount of bundling discount: |
Nationwide | Auto and homeowners Auto and renters Motorcycle and renters Multi-car Boat and auto | Up to 20% |
State Farm | Combination of: Life insurance Homeowners Condo Renters Auto Multi-car | Up to 20% for multi-car |
USAA | Home and auto Renters and auto Condo and auto | Up to 10% |
Allstate | Home and auto Renters and auto Condo and auto Renters and motorcycle | Up to 25% |
GEICO | Homeowners and auto Renters and auto | Not disclosed |
Progressive | Home and auto Renters and auto Condo and auto | Up to 20% |
Farmers | Multiple opportunities including homeowners, renters, condo, auto, mobile home, life insurance, umbrella policy, boat, and more | 10% or more |
Who should bundle their insurance policy
Bundling insurance policies can be beneficial for various individuals and households, but it's particularly advantageous for:
- Homeowners. Homeowners often benefit from bundling their home insurance policy with other policies like auto or umbrella insurance. Bundling can provide comprehensive property and vehicle coverage while saving on premiums.
- Drivers. Those who own vehicles can benefit from bundling auto insurance with other policies. Bundling auto insurance with home or renters insurance, for example, can lead to significant discounts and simplify insurance management.
- Families. Families with multiple vehicles and a home may find bundling insurance policies particularly advantageous. Families can save money and streamline their insurance coverage by combining auto, home, and possibly life insurance.
- Renters. Even if you're renting instead of owning a home, bundling renters insurance with auto or other types of insurance can still offer cost savings and convenience. Renters can protect their belongings with renters insurance while securing vehicle coverage.
- Business owners. Small business owners can bundle their business insurance policies, such as general liability, property, and workers' compensation insurance. Bundling can provide comprehensive coverage for their business assets and operations while potentially saving on premiums.
- Individuals with multiple assets. Anyone with multiple valuable assets, such as a home, vehicle, boat, or RV, may benefit from bundling insurance policies. Bundling ensures consistent coverage across all assets and can result in discounts and simplified management.
- Retirees. Retirees may find bundling insurance policies advantageous as they often have more time to review their coverage needs and seek out cost-saving opportunities. Bundling can provide peace of mind and financial security during retirement.
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FAQs
What happens if I need to make a claim on a bundled policy?
If you need to make a claim on a bundled insurance policy, you'll typically contact your insurance provider through their claims process. The claims process for bundled policies is similar to that of individual policies, but you'll work with a single insurer for all your claims, which can streamline the process.
Can I bundle insurance policies if I already have existing policies with different providers?
Yes, many insurers offer options to bundle existing policies from different providers. You can contact your preferred insurance provider to inquire about transferring or consolidating your existing policies into a bundled package.
Can I customize my insurance bundle?
Yes, many insurance providers offer flexibility to customize insurance bundles based on individual needs and preferences. This may include adjusting coverage limits, adding or removing specific types of insurance, or selecting optional endorsements or riders.
The bottom line
Bundling insurance offers convenience, cost savings, and comprehensive coverage for consumers who have multiple insurance needs. By combining different insurance policies with the same provider, individuals can save money through discounts, streamline administrative tasks, and ensure consistent coverage across all aspects of their life and property protection.
However, before bundling policies, it's essential to carefully evaluate the coverage options, compare bundle quotes, and consider individual insurance needs. While bundling can offer benefits, it may not always be the best choice for everyone. Some consumers may find better deals or more suitable coverage options by purchasing policies separately from different providers.
Ultimately, the decision to bundle insurance should be based on factors such as cost-effectiveness, coverage needs, and personal preferences. It's advisable to research different insurance providers, explore available discounts, and review policy details thoroughly to make an informed decision that meets your specific requirements and financial goals.
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Writer
Sara Coleman is a former corporate gal turned creative entrepreneur. She began writing professionally several years ago and now contributes to multiple websites, blogs, and magazines. She’s also an avid reader and can’t resist a great historical fiction novel. Sara holds a BA in journalism from the University of Georgia and can be found supporting her Bulldogs every chance she has. She resides in Charlotte, North Carolina, with her wonderfully supportive husband and three children. When she’s not ushering her kids to sports and dance lessons, she can be found creating content for her own website, TheProperPen.com.
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