How to Get Cheap Home and Auto Insurance from the Same Insurance Company?
When you bundle your home and auto insurance from the same insurance company, it’s commonly referred to as trade bundling. When you opt to take the path of trade bundling, the chances are high of you becoming liable to gaining a price break. This means a reduction in cost for both your auto insurance coverage as well as your homeowner insurance coverage. This isn’t always the case, but it does pay off when you shop around and ask multiple insurers. To help give you a head start, we’ve listed a fantastic guide on how you can buy cheap home and auto insurance from the same insurer.
When should you bundle both your home and car insurance policies?
Not every risk is worth taking, but calculated risks are sure to provide you with benefits in the long term. The following situations are a green light towards obtaining a bundle for both your home and car insurance policies.
1. The policy combination is cheaper than what you are currently paying
2. When you are trying your level best towards achieving a policy for a risky home
3. When you wish to create a stronger tie with your current insurance providing company
4. A cheaper auto and homeowner bundling combination isn’t available at separate companies.
Your guide to bundling cheap home insurance and auto insurance together
The first step revolves around your visit to complete a quote at your insurer’s company. Usually at the end of this process, the insurer will ask whether or not you wish to incorporate your home as well in relevance to a homeowner’s policy.
This situation can turn out to be tricky as most people are bound to have their auto insurance with one company and their home owner insurance policy tied up with another. In circumstances like these, the goal is to avoid paying a hefty cancellation fee as well as preventing any form of a lapse in your coverage.
It’s smart to send out a 30 day notice to your insurance company and mention your intention towards policy cancellation. This helps to ensure your company is well aware of your decision, avoids any last minute confusion and guarantees that you won’t be charged as regular practice when the 30 day period is up. Just make sure you have another insurance company policy in place with which you wish to bundle with. This way, you can begin your new policy the day your old policy ends.