Bundling your car insurance and your renters insurance policy can be a good idea. It can simplify your insurance policies, so you can manage your policies and pay your bills all in one place.
Bundling your policies can also save you money on your insurance, though savings that come from bundling your renters insurance with other coverage tend to be smaller than the discounts for bundling home and auto insurance.
Can you bundle car insurance and renters insurance?
Yes! Buying your renters and car insurance together as a bundle with one insurance company is a great way to streamline your policies and save some money on your insurance.
You can also bundle your car insurance and renters insurance with any other policies you may have, like boat insurance or motorcycle insurance, and earn a discount.
Is car insurance cheaper if you bundle?
Yes, although the savings when bundling your car insurance with your renters insurance are typically going to be pretty low.
Renters insurance is remarkably cheap, typically between $15 and $30 per month, which makes it an affordable way to protect your belongings. [1] But the downside to that is you don’t get that much in the way of savings for bundling renters insurance with your car insurance.
Other coverages, like homeowners insurance or condo insurance, are more expensive because they cover much more than just your belongings, which means that bundling these coverages with your auto insurance will likely earn you a bigger discount than bundling your car and renters insurance.
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Best companies for bundling auto and renters insurance
Most insurance providers offer bundling discounts for combining your auto and renters insurance. In fact, you can usually bundle all of your coverage (renters, auto, motorcycle, and more) and save with the following car insurance companies:
GEICO, already one of the most affordable options for many drivers, offers a lot of discounts to their customers, including a discount for bundling auto and renters insurance.
Read our full GEICO car insurance review
GEICO offers a number of benefits for bundling auto and renters insurance, including a bundling discount and a personal property calculator to help you determine exactly how much renters insurance you need.
However, you should be aware that GEICO outsources its homeowners and renters insurance through third party companies, so if you need to file a renters insurance claim, you may have to go through their partner company instead of directly through GEICO. Average car insurance rates for GEICO are $1,184 per year for a full-coverage policy, 28% less than the national average of $1,638 per year.
USAA has incredibly low rates on all its coverages (including renters insurance) but it only insures members of the military and their families. But people who qualify for coverage through USAA usually report having an excellent customer service experience, which is why the company has a J.D. Power score of 890. Average car insurance rates for USAA are $1,039 per year for a full-coverage policy, 37% less than the national average.
State Farm offers lower rates than competitors for drivers who have an accident or moving violation on their driving record, and those drivers can save even more by bundling their car and renters insurance.
Read our full State Farm car insurance review
Not only does State Farm offer a discount for bundling auto and renters insurance, it claims that drivers who bundle two or more policies can save up to $1,127 per year on their insurance. Average car insurance rates for State Farm are $1,173 per year for a full-coverage policy, 28% below the national average.
Progressive offers bundling discounts for multiple types of coverage, including auto and renters insurance.
Read our full Progressive car insurance review
According to Progressive’s website, drivers who bundle two or more policies save an average of 4% on their insurance premium. Average car insurance rates for Progressive are $1,774 per year for a full coverage policy, 8% more than the national average.
Allstate tends to be a little more expensive than other major insurance companies, but it also offers a substantial number of discounts, including a discount for bundling your car and renters insurance policies.
Though, like GEICO, Allstate does outsource its homeowners and renters policies through third party companies, which can make bill-paying, renewal, and claims-filing less streamlined. Average car insurance rates for Allstate are $1,981 per year, 21% more than the national average.
How to bundle your car insurance and renters insurance
If you want to bundle your car insurance and renters insurance, there are a few different ways to do it.
If you only have one insurance policy and you are looking to purchase another, going through your current insurance company is an easy way to bundle your policies together. For example, if you already have renters insurance but you are going to purchase your first car insurance policy, you can reach out to your renters insurance company and find out if they also offer auto insurance.
If you already have multiple insurance policies spread across different companies, you can get quotes from each company to find out what it would cost (and how much you would save) to combine your home and renters coverage with one insurer.
You can also use an online marketplace like Policygenius to compare personalized quotes and policies from multiple companies to make sure you are getting the best possible rates.
Pros and cons of a renters and car insurance bundle
Bundling multiple policies through one insurance company is usually a good idea, but there are some downsides to bundling your car and renters insurance that you might not have considered.
Pros of bundling car and renters insurance | Cons of bundling car and renters insurance |
|---|---|
You’ll save some money on insurance costs | Savings are typically low because renters insurance is so cheap |
Makes paying bills and reviewing policy information easy | Some insurance companies outsource renters or homeowners coverage, which makes it more difficult to review all your coverages in one place |
May be able to take advantage of some benefits, like a combined deductible for some claims | All service goes through one company, so if you don't like customer service or other features you are stuck with all your policies until you buy a new insurance policy elsewhere |
For most people, bundling your car insurance and your renters insurance through one company is a smart choice, but if you’re able to find the cheapest car and renters insurance by buying separate policies from separate companies, then that may be the right choice for you.
Frequently asked questions
Should I bundle my homeowners and car insurance?
Yes, bundling your homeowners and car insurance is usually a good idea. Bundling policies is a good way to consolidate your insurance bills and save money on your insurance.
Can you have two separate auto insurance policies?
You can, but it is much cheaper to insure all of your vehicles under a single policy. Insuring all of your cars on one policy usually comes with a multi-car discount.
Does having multiple cars make insurance cheaper?
Having multiple cars on the same policy usually earns you a multi-car discount, which is cheaper than purchasing separate policies for each car.
What is the best way to save on car insurance?
The best way to save money on car insurance is to regularly compare quotes from multiple companies to make sure you are paying the lowest possible rate.
Methodology
Policygenius has analyzed car insurance rates provided by Quadrant Information Services for every ZIP code in all 50 states, plus Washington, D.C.
For full coverage policies, the following coverage limits were used:
Bodily injury liability: 50/100
Property damage liability: $50,000
Uninsured/underinsured motorist: 50/100
Comprehensive: $500 deductible
Collision: $500 deductible
In some cases, additional coverages were added where required by the state or insurer.
Rates for overall average rate, rates by ZIP code, and cheapest companies determined using averages for single drivers age 30, 35, and 45. Our sample vehicle was a 2017 Toyota Camry LE driven 10,000 miles per year.
Rates for driving violations and “poor” credit were determined using average rates for a single male 30-year-old driver with a credit score under 578.
Some carriers may be represented by affiliates or subsidiaries. Rates provided are a sample of insurance costs. Your actual quotes may differ.
