- Cheapest home and auto bundles in Kentucky
- The companies offering the cheapest home and auto bundles in Kentucky
- Biggest home and auto bundle discounts in Kentucky
- How do home and auto bundles affect car insurance rates in Kentucky?
- What are the best home and auto insurance companies in Kentucky?
- Home and auto bundle insurance in Kentucky 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 Kentucky?
- Methodology
- FAQs: Home and auto insurance bundling
Cheapest home and auto bundles in Kentucky
The total cost of a home and auto bundle depends on the base prices for the underlying home and auto insurance coverages. The discount is applied to each policy. The table below shows the average rates for home and auto insurance, as well as 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. with and without the bundle discount.
In Kentucky, the least expensive car and home bundles are offered by Nationwide, followed next by State Farm.
| Company | Home premium | Auto premium | Bundle premium | Without bundle premium |
|---|---|---|---|---|
| Nationwide | $2,706 | $1,893 | $3,465 | $4,599 |
| State Farm | $2,603 | $2,160 | $3,549 | $4,763 |
| Cincinnati Insurance | $2,039 | $2,063 | $3,628 | $4,102 |
| Auto-Owners | $2,162 | $2,003 | $3,701 | $4,165 |
| Grange Mutual | $2,858 | $1,858 | $4,236 | $4,716 |
| Kentucky Farm Bureau | $5,675 | $2,625 | $6,948 | $8,300 |
The companies offering the cheapest home and auto bundles in Kentucky
Nationwide
Our take: Nationwide auto customers give it high marks for affordable rates and claims satisfaction. Its home insurance rates aren’t the lowest, but they are still cheaper than many competitors. Nationwide, the tenth-largest property and casualtyLiability or loss resulting from an accident. insurance company in the nation, ranked third for claims satisfaction in J.D. Power’s 2023 survey.
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 casualty insurance company in the nation.
Biggest home and auto bundle discounts in Kentucky
At 25%, the largest discount for bundling home and auto insurance can be found at Nationwide and State Farm. On the other hand, of the companies evaluated, the smallest multi-policy discount belongs to Grange Mutual, at 10%.
| Company | Home and auto bundle discount |
|---|---|
| Nationwide | 25% |
| State Farm | 25% |
| Kentucky Farm Bureau | 16% |
| Cincinnati Insurance | 12% |
| Auto-Owners | 11% |
| Grange Mutual | 10% |
How do home and auto bundles affect car insurance rates in Kentucky?
The table below shows Kentucky auto insurance rates before and after applying a bundling discount. The most affordable rate after the multi-policy discount belongs to Nationwide at $1,630. The largest discount on auto is offered by State Farm at 16%.
| Company | Auto premium before bundling | Auto premium after bundling | $ difference after bundling | % difference after bundling |
|---|---|---|---|---|
| Nationwide | $1,893 | $1,630 | $263 | 14% |
| Grange Mutual | $1,858 | $1,717 | $141 | 8% |
| Auto-Owners | $2,003 | $1,743 | $260 | 13% |
| Cincinnati Insurance | $2,063 | $1,798 | $265 | 13% |
| State Farm | $2,160 | $1,818 | $342 | 16% |
| Kentucky Farm Bureau | $2,625 | $2,362 | $263 | 10% |
What are the best home and auto insurance companies in Kentucky?
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 Kentucky overall based on our analysis of rates, financial stability and customer complaints.
| Company | AM Best | NAIC | Average annual premium | Insurance.com score |
|---|---|---|---|---|
| Nationwide | A+ | 0.87 | $3,273 | 5.00 |
| State Farm | A++ | 0.95 | $2,727 | 4.91 |
| Auto-Owners | A++ | 0.33 | $3,129 | 4.87 |
| Westfield Insurance | A | 0.29 | $2,989 | 4.77 |
| Automobile Club MI (AAA) | A | 0.29 | $3,434 | 4.62 |
| Grange Mutual | B++ | 0.93 | $3,767 | 4.26 |
| Progressive | A+ | 8.45 | $2,297 | 3.81 |
| Kentucky Farm Bureau | A | 0.54 | $6,071 | 3.71 |
| Company | AM Best | JD Power by state | NAIC | Average annual premium | Insurance.com score |
|---|---|---|---|---|---|
| Auto-Owners | A++ | 859 | 0.5 | $1,911 | 3.75 |
| Travelers | A++ | 851 | 0.49 | $1,804 | 3.35 |
| Kentucky Farm Bureau | A | 820 | 0.23 | $2,113 | 3.29 |
| Shelter Insurance | A | 851 | 1.18 | $1,917 | 3.16 |
| Geico | A++ | 847 | 0.91 | $2,106 | 3.12 |
| State Farm | A++ | 807 | 0.7 | $2,753 | 2.91 |
| Progressive | A+ | 828 | 0.65 | $2,714 | 2.67 |
| Allstate | A+ | 816 | 0.65 | $3,127 | 2.48 |
| Farmers | A | 857 | 0.8 | $3,548 | 2.17 |
Home and auto bundle insurance in Kentucky cities
Where you live in Kentucky 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 |
|---|---|---|---|---|
| Argillite | $3,704 | $4,198 | $494 | 12% |
| Arjay | $4,367 | $4,987 | $620 | 12% |
| Beech Creek | $3,774 | $4,649 | $876 | 19% |
| Bloomfield | $3,693 | $4,202 | $509 | 12% |
| Bowling Green | $3,531 | $3,943 | $412 | 11% |
| Brooks | $3,595 | $4,763 | $1,168 | 25% |
| Corbin | $5,838 | $6,926 | $1,088 | 16% |
| Danville | $3,094 | $4,127 | $1,033 | 25% |
| Ghent | $3,493 | $3,992 | $499 | 13% |
| Harrodsburg | $3,186 | $3,904 | $719 | 18% |
| Hopkinsville | $3,876 | $4,360 | $484 | 11% |
| Isonville | $4,440 | $5,036 | $596 | 12% |
| Lexington | $3,132 | $3,855 | $724 | 19% |
| Louisville | $3,901 | $4,805 | $905 | 19% |
| Midway | $3,159 | $4,201 | $1,042 | 25% |
| Mount Olivet | $3,162 | $3,606 | $444 | 12% |
| Murray | $3,459 | $4,275 | $816 | 19% |
| Owensboro | $3,410 | $3,808 | $398 | 11% |
| Sturgis | $3,448 | $4,636 | $1,188 | 26% |
| Versailles | $3,096 | $3,800 | $704 | 18% |
How does bundling home and car insurance work?
The concept of bundling is pretty basic. 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 equal 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 auto insurance is a decreased premium.
But keep in mind that you won't always save money bundling. You could find a provider with a low price on one of the two policies, which could result in better savings than a bundle. Here’s how that works:
- If you currently pay $1,000 for car insurance from one insurer and $1,200 for home insurance from another, that's a total of $2,200.
- But let's say you decide to buy your home insurance from your auto insurer. The cost for the new home insurance policy is $1,500, or $300 more than your current cost.
- Your total rate under the bundle would be $2,500, a $300 increase.
- That means you'd need a bundle discount of at least $400 or so to lower the total bundle rate enough to save money compared to the price you currently pay for separate policies.
That's why you should compare home and auto insurance bundle quotes to what you're paying for separate policies. Rates on bundles aren't always lower.
Should you bundle home and auto insurance in Kentucky?
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 Kentucky 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 deductible). 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.
What information do you need to bundle your policies?
To bundle your policies you will need all of the details for both the cars and the home you want to insure. That includes VINs, driver information and details about the home. Your current home and auto policies will list this information for easy reference.
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.
What type of insurance policies can I bundle?
Multi-policy discounts can also apply to other types of insurance policies that you buy from the same insurance company. Depending upon the insurer, you may also be able to bundle these types of insurance policies:
- Condo
- Renters
- Motorcycle
- RV
- Life
Some auto insurance companies don't write homeowners insurance, but some may align themselves with a home insurer to offer a discount. Ask your agent or customer service representative to see if you can bundle multiple insurance policies.
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