Cheapest auto and renters insurance bundle
Several factors affect how much you’ll pay for a car and renters insurance bundle, but the main three are the auto insurance rate, the renters insurance rate, and the amount of the discount on each policy.
One company may have the biggest discount, but a higher base rate might mean you save more at a company that offers a smaller discount but starts out with lower rates.
Gathering auto and renters insurance quotes from multiple companies is the best way to find the cheapest auto and renters insurance bundle. Take a look at the auto and renters insurance bundle comparison of rates from top companies below.
| Company | Car insurance cost | Cost with auto and renter bundle insurance | $ savings | % savings |
|---|---|---|---|---|
| USAA | $1,289 | $1,225 | $64 | 5% |
| Nationwide | $1,760 | $1,663 | $97 | 5% |
| State Farm | $1,796 | $1,687 | $109 | 6% |
| Travelers | $1,858 | $1,764 | $94 | 5% |
| Geico | $1,888 | $1,830 | $59 | 3% |
| Progressive | $2,227 | $2,098 | $128 | 6% |
| Farmers Insurance | $2,674 | $2,428 | $246 | 8% |
| Allstate | $3,111 | $2,951 | $159 | 5% |
How much is the auto and renters insurance bundling discount?
The discount varies widely by company, so there’s no guaranteed amount. It’s also important to know that there is a discount for the auto policy and a discount for the renters policy, and they’re not the same amount.
When you see an auto and renters discount being advertised, the odds are good it’s the total amount you can expect to save on both policies. In other words, if the auto insurance discount is 10% and the renters discount is 5%, you’ll likely see it advertised as a 15% discount. It doesn’t mean you’ll get 15% off each policy. So, how much does bundling renters and auto insurance save?
The average multi-policy discount is 14%, but that includes auto and homeowners discounts, which may be larger.
How to get a discount on an auto and renters insurance bundle
Getting an auto and renters bundle discount is easy: buy your car insurance and your renters insurance from the same company. Most companies offer this discount but make sure to ask before you buy your insurance.
Since not all renters and auto bundling discounts are the same, it's a good idea to shop around and request quotes from several companies to find the best deal.
Benefits of bundling car and renters insurance
The biggest benefit of bundling your renters and auto insurance is the savings. However, there are other benefits, including the ease of having your insurance in one place. You’ll have only one bill to deal with and one insurance company.
So, should you bundle auto and renters insurance? It’s not always the best choice. In some cases, you might pay less overall by purchasing auto and renters insurance from separate companies. It’s important to shop around and compare all of your options before you buy. Sometimes, the cheapest auto and renters insurance policies are from two different companies.
How to compare car and renters insurance bundle quotes
Comparing quotes doesn’t have to be time-consuming or difficult. You can gather quotes quickly online that include both car and renters insurance and will show you how much you can save by bundling.
Make sure to look not only at the overall savings but also at how much you will save on each policy individually. It’s also a good idea to get separate quotes from multiple companies and compare auto and renters insurance costs separately since bundling isn’t always the best deal.
When you’re comparing quotes, make sure to look for:
- Coverage levels that are the same across all quotes for both policies
- Deductibles at the same amount on all quotes
- Whether replacement cost coverage is included with the renters insurance policy
- Any extras that are included with any of the policies, like roadside assistance
- Companies with a solid reputation and financial standing
To make sure you’re getting coverage from a reputable company, check the company’s rating with J.D. Power and AM Best.
Methodology
Insurance.com commissioned car insurance rates from Quadrant Data Services in 2022 for a 40-year-old make driver with a clean record and good credit driving a 2021 Honda Accord LX. Rates are quoted with full coverage limits of 100/300/50 and $500 comprehensive and collision deductibleThe deductible is the amount you pay out of pocket for a covered loss when you file a claim..
