- Cheapest home and auto bundles in Colorado
- The companies offering the cheapest home and auto bundles in Colorado
- Biggest home and auto bundle discounts in Colorado
- How do home and auto bundles affect car insurance rates in Colorado?
- What are the best home and auto insurance companies in Colorado?
- Home and auto bundle insurance in Colorado cities
- How does bundling home and car insurance work?
- The pros and cons of home and auto insurance bundles
- Should you bundle home and auto insurance in Colorado?
- Methodology
- FAQs: Home and auto insurance bundling
Cheapest home and auto bundles in Colorado
The price you pay with a home and auto bundle depends on the base prices for the home and auto policies plus the amount discounted on each policy. The table below shows the average rates for home insurance and auto insurance and how much the total premiumThe payment required for an insurance policy to remain in force. Auto insurance premiums are quoted for either 6-month or annual policy periods. is with and without the bundling discount.
The cheapest car and home bundles in Colorado are from State Farm, followed by Allstate.
| Company | Home premium | Auto premium | Bundle premium | Without bundle premium |
|---|---|---|---|---|
| State Farm | $2,991 | $1,906 | $3,605 | $4,897 |
| Allstate | $2,918 | $2,873 | $5,131 | $5,791 |
| American Family | $3,506 | $3,602 | $6,146 | $7,108 |
| Nationwide | $5,763 | $1,794 | $6,624 | $7,557 |
| Farmers | $5,824 | $3,146 | $6,962 | $8,970 |
The companies offering the cheapest home and auto bundles in Colorado
State Farm
Our take: State Farm topped the list of auto insurance companies in a recent ranking, with customers giving it extremely high satisfaction scores. The company is also the top pick for home insurance, with customers giving it high marks for customer satisfaction, ease of service and for its various policy offerings. State Farm is the biggest property and casualtyLiability or loss resulting from an accident. insurance company in the nation.
Allstate
Our take: Allstate auto customers give the company high scores for ease of service and for its expansive policy offerings. Its homeowners rates are lower than most major competitors and the majority of its home insurance customers give it high marks for customer satisfaction and claims handling. Allstate is the fourth-largest property and casualty insurance company in the U.S.
Biggest home and auto bundle discounts in Colorado
At 26%, the largest discount for bundling home and auto insurance can be found at State Farm. On the other hand, of the companies evaluated, the smallest multi-policy discount belongs to Allstate, at 11%.
| Company | Home and auto bundle discount |
|---|---|
| State Farm | 26% |
| Farmers | 22% |
| American Family | 14% |
| Nationwide | 12% |
| Allstate | 11% |
How do home and auto bundles affect car insurance rates in Colorado?
The table below shows Colorado auto insurance rates before and after applying a bundling discount. The most affordable rate after the multi-policy discount belongs to State Farm at $1,654. The greatest discount on auto is offered by Farmers at 24%.
| Company | Auto premium before bundling | Auto premium after bundling | $ difference after bundling | % difference after bundling |
|---|---|---|---|---|
| State Farm | $1,906 | $1,654 | $252 | 13% |
| Nationwide | $1,794 | $1,655 | $139 | 8% |
| Farmers | $3,146 | $2,394 | $752 | 24% |
| Allstate | $2,873 | $2,407 | $465 | 16% |
| American Family | $3,602 | $3,173 | $430 | 12% |
What are the best home and auto insurance companies in Colorado?
When shopping for the right company for your home and auto insurance, it’s important to consider more than just bundling. You want a company that has a solid reputation as well as great rates. Below are the best home and auto insurance companies in Colorado overall based on our analysis of rates, financial stability and customer complaints.
| Company | AM Best | NAIC | Average annual premium | Insurance.com score |
|---|---|---|---|---|
| American Family | A | 0.37 | $3,484 | 5.00 |
| Allstate | A+ | 0.9 | $3,246 | 4.03 |
| State Farm | A++ | 0.95 | $3,199 | 4.02 |
| Farmers | A | 0.54 | $4,810 | 3.82 |
| Nationwide | A+ | 0.87 | $5,391 | 2.81 |
| Company | AM Best | JD Power by state | NAIC | Average annual premium | Insurance.com score |
|---|---|---|---|---|---|
| Geico | A++ | 801 | 0.91 | $1,445 | 3.98 |
| State Farm | A++ | 783 | 0.7 | $1,950 | 3.86 |
| Auto-Owners | A++ | 808 | 0.5 | $2,874 | 3.73 |
| Allstate | A+ | 795 | 0.65 | $2,774 | 3.37 |
| Progressive | A+ | 828 | 0.65 | $2,796 | 3.35 |
| Farmers | A | 835 | 0.8 | $3,578 | 2.94 |
| Kemper Insurance | A- | 736 | 2.16 | $1,878 | 2.26 |
Home and auto bundle insurance in Colorado cities
Where you live in Colorado will impact what you pay for an auto and home insurance bundle. Take a look at average home and auto insurance bundles by city below.
| City | Auto & home after discount | Auto & home before discount | $ Difference | % Difference |
|---|---|---|---|---|
| Bayfield | $3,516 | $4,289 | $773 | 18% |
| Delta | $3,075 | $3,739 | $664 | 18% |
| Evans | $5,426 | $6,604 | $1,179 | 18% |
| Grand Junction | $2,869 | $3,493 | $623 | 18% |
| Pueblo | $6,915 | $8,395 | $1,480 | 18% |
| Silverthorne | $3,726 | $4,530 | $804 | 18% |
| Sterling | $6,773 | $8,234 | $1,461 | 18% |
| Vail | $3,589 | $4,372 | $782 | 18% |
| Alamosa | $3,876 | $4,672 | $796 | 17% |
| Aurora | $6,327 | $7,598 | $1,271 | 17% |
| Boulder | $4,825 | $5,812 | $987 | 17% |
| Brighton | $5,628 | $6,806 | $1,177 | 17% |
| Broomfield | $5,257 | $6,313 | $1,057 | 17% |
| Castle Rock | $5,834 | $7,024 | $1,190 | 17% |
| Centennial | $5,871 | $7,080 | $1,209 | 17% |
| Colorado Springs | $6,010 | $7,210 | $1,200 | 17% |
| Denver | $6,229 | $7,522 | $1,294 | 17% |
| Dolores | $3,324 | $4,033 | $710 | 17% |
| Durango | $3,466 | $4,199 | $734 | 17% |
| Fort Collins | $4,405 | $5,304 | $899 | 17% |
| Grand Lake | $4,036 | $4,845 | $809 | 17% |
| Yoder | $6,088 | $7,340 | $1,253 | 17% |
How does bundling home and car insurance work?
The concept of bundling is pretty straightforward. You buy more than one type of insurance from the same company and, in exchange for the increased business, the insurance company gives you a discount. And there’s an additional benefit for the insurer for offering bundles: Customers who bundle are more likely to renew their policies.
You typically get discounts on both car insurance and home insurance when you bundle coverage. The discount isn’t the same for both policies. Each insurer has its own discount formulas. Companies may offer a more substantial discount on one than the other.
The pros and cons of home and auto insurance bundles
The biggest benefit of bundling your home and car insurance is a cheaper premium.
But keep in mind that you don't always save money by bundling. You could find a company with a low enough price on one of the two policies to result in better overall rates than a bundle elsewhere. Here’s how that works:
- If you pay $1,000 for car insurance from one provider currently and $1,200 for home insurance from another, the total is $2,200.
- Let's say, however, you decide to get your home insurance from your car insurance company. The price is $1,500 for the new home insurance policy, $300 more than what you pay right now.
- The new combined cost would mean a $300 increase, totaling $2,500.
- You would need a bundling discount of $400 or so, at minimum, to decrease the total bundle rate by enough money to save when compared to the price you currently pay for the separate policies.
Bundled rates aren't always cheaper in absolute terms. This is why you should carefully compare what you pay for separate policies now to quotes on home and car insurance bundles.
Should you bundle home and auto insurance in Colorado?
Prior to signing up for an auto and home bundle, it’s important to shop around. Bundling your car and homeowners insurance has many advantages; you only have to deal with a single company and with a single bill and you typically get a discount on both policies. Yet bundling isn’t always the best deal.
Some companies have cheap car insurance rates but less competitive home insurance rates, and vice versa. You might pay less overall by choosing two different companies for your insurance.
Shop around and evaluate Colorado car insurance rates on an individual basis and with a bundling discount to make sure you’re getting the best deal before you buy.
Methodology
In the spring of 2023, Insurance.com analyzed rate and discount data from Quadrant Data Services. The rates, from 2022, are the most recent available to Insurance.com and are based on a 40-year-old male driver with a 12-mile daily commute, good credit and a clean driving history. Rates were fielded for a full-coverage policy (100/300/100 with a $500 collision and comprehensive deductibleThe deductible is the amount you pay out of pocket for a covered loss when you file a claim.). Homeowners insurance rates are based on $300,000 in dwelling coverage with $300,000 in liability and a $1,000 deductible.
FAQs: Home and auto insurance bundling
Below are answers to common questions about bundling home and auto bundles and other multi-policy discounts that can save you money on your insurance.
How do I cancel my insurance and bundle with another company?
You should have your new policy ready to go first, as you want to avoid a lapseWhen your auto insurance coverage ends because you missed a payment or did not renew it on time. A lapse in auto insurance coverage may result in paying higher premiums for a new policy. in coverage. Once you have the new policy start date, give your car or homeowners insurance company at least a 30-day notice of your cancellation. You can set the start date of your new policy for the day your old policy ends. By doing so, you'll ensure that your former company will stop billing you by the time your new policy is in effect. You'll also prevent any coverage gaps between the canceled policy and the new one.
Is there a limit on how many policies can be bundled?
Usually, you can purchase as many insurance policies as you want from the same company. However, that doesn’t mean you will get a bundling discount with every policy you buy. There may be a limit on the number of policies you can bundle with one company. For instance, you might only qualify for a bundling discount on the three most expensive policies. Speak with an agent from your insurance company to learn more about the limitations.
Which insurance companies bundle home and auto insurance?
Almost every insurance company offers a bundling discount, often called a multi-policy discount. Multi-policy discounts aren't just for auto and home. They often include other home insurance policies like renters and condo, as well as motorcycle insurance and in some cases life, RV, boat, and others.
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