Bundling home and auto insurance isn’t always the right choice to save money
Bundling insurance means buying different types of insurance policies from the same company. This is typically a popular option for those who own both a car and a home since bundling homeowners and auto insurance can result in significant savings.
Still, that doesn’t mean buying a bundle is always the best choice. CNBC Select explains how to decide whether to bundle and choose the right company for your insurance needs.
Bundling home and auto insuranceIs it better to bundle home and auto insurance?
Insurance companies use bundling discounts as a way to get more of their customers’ business. For example, Nationwide offers a discount of up to 20% for bundling. And with Allstate, you can save an impressive 25% if you bundle home and auto insurance policies online.
Nationwide Auto Insurance
- CostThe best way to estimate your costs is to request a quote
- App available
- Policy highlightsNationwide offers near-nationwide availability and personalized services, such as On Your Side® Review, a free annual insurance evaluation to ensure you are adequately protected and are taking advantage of any discounts available to you.
Geico home insurance review 2023
- You could get a discount if you have Geico car insurance and take out a home insurance policy with a partner through Geico Insurance Agency.
- Geico offers several optional insurance policies for additional coverage.
- Geico does not underwrite its own home insurance policies, instead working with third-party insurance companies, making it more difficult to estimate rates and customer satisfaction.
About Geico home insurance
Founded in 1936, Geico has grown over the last nine decades to become one of the largest insurers in the country. Geico doesn’t sell its own home insurance, but its Geico Insurance Agency partners with unaffiliated companies to help you secure a homeowners insurance policy.
If you decide to purchase home insurance through Geico Insurance Agency, its online quote tool and agents will help you find a home insurance policy that meets your coverage needs. That said, you will work directly with the issuing company to adjust your coverage settings and file claims.
You can also take out home insurance for condos and mobile homes through the Geico Insurance Agency, as well as renters insurance.
Compare The Best Car Insurance Quotes For September 2023
Key points
- Comparing car insurance quotes can help you find the best price for the coverage you need.
- Your driving history, vehicle, location, age and gender can all play a role in how much you pay for car insurance.
- Car insurance quotes are free and can usually be obtained within minutes online, over the phone or in person with an insurance agent.
It’s important to compare car insurance quotes and companies to make sure you’re getting the best price for your coverage needs. Most major car insurance companies make it easy for you to get a quote online.
Comparing car insurance rates
There are several factors that can influence your car insurance rates, including your age, gender, location, credit history and driving record.
To help you see how those factors may impact your rate, we collected data from top car insurance companies to provide average rates:
Compare car insurance rates by company
A good driver purchasing full coverage can expect to pay an average of $2,150 annually for coverage. But even though car insurance companies offer a similar product, their pricing varies. Here’s a look at the average rates offered by the top insurers in the nation.
Compare car insurance rates by state
Where you live will play a big role in how much you pay for coverage. Drivers in Iowa and Wyoming enjoy some of the lowest rates and those in Florida and Michigan have some of the highest average rates, according to our analysis.