Auto and Homeowners Insurance Information
Common Insurance Bundle Questions
What is Bundled Home & Auto Insurance?
If you bundle insurance policies, this just means that you buy two policies from the same insurance company. The individual policies are still separate. However, they offer many incentives that can help you control costs, make benefits more cohesive and simplify your ability to manage multiple policies. Overall, bundling is an exceptional way to both make insurance easier to use and more affordable.
Is it a Good Idea to Bundle My Home & Auto Policies?
If you bundle your home and auto policies, then there are many potential advantages. You will be able to coordinate payment times, manage your plans from a centralized benefits portfolio and often you can save money by buying bundles as opposed to buying piecemeal benefits.
However, a bundle might not work for you when you have unique assets like high-value homes or specialty vehicles. Still, all carriers have different bundling rules, and even if one bundle isn’t for you, there are still plenty of other options out there.
Will I Save Money by Bundling Insurance Policies?
One of the biggest advantages to bundling your insurance plans is the cost benefit.
If you bundle, then you will likely receive a bundling discount. Therefore, you might save more money than you would by buying home and auto coverage separately.
Some bundles have single deductible benefits. If you must file both a home and auto insurance claim for the same incident—like severe weather that damages both your house and car—then you might only have to pay one deductible for both claims.
Plus, by bundling, you can better manage how you make payments on your policies. If you are always able to make payments on time, then you have a much lower risk of facing late payment penalties or having your policy cancelled due to nonpayment.
What Car Insurance Do I Need?
A bundled auto insurance policy will provide the essential benefits that you might need following car wrecks or other vehicle losses. These include:
- Liability Insurance
- Collision Insurance
- Comprehensive Insurance
- Medical Payments Coverage
- Uninsured Motorist Coverage
- Underinsured Motorist Coverage
You can also further tailor your policy with benefits like gap insurance, replacement cost coverage, roadside assistance and rental car coverage.&
Please Note: All California drivers must carry proof of financial responsibility. If you buy car insurance to meet this requirement, then your plan must contain at least the following coverage:
- $15,000 bodily injury liability coverage per person
- $30,000 bodily injury liability coverage per accident
- $5,000 property damage liability coverage
What Home Insurance Do I Need?
You buy home insurance because it can protect your property, family and financial assets from the results of numerous hazards and other liabilities.
Coverage that most homeowners need includes:
- Dwelling Insurance
- Other Structures Coverage
- Contents Insurance
- Loss of Use Insurance/Living Expenses Coverage
- Liability Coverage
There are countless other benefits available, such as scheduled personal property riders, pet liability insurance and identity theft insurance. Policies can be tailored to cover high-value homes, rental properties, condominiums, mobile homes and more.
If you finance your home, then you might have to buy homeowners insurance as required by your lender. Still, regardless of requirement, this is an important benefit to always carry.