Is bundling worth it?
In a word, yes. Not only do you save money, but you could also save yourself some headaches when you bundle home and auto insurance. You can manage all your policies online and become familiar with your insurer. You know exactly what to expect and are less likely to encounter unwanted surprises down the line.
It's important to get top-notch policies for both your home and auto, which is why Esurance underwrites both ourselves. Other insurers might offer quality auto insurance at an affordable price but not-so-great home insurance with bare minimum coverage. That could leave you with major bills after a homeowners claim. In that case, bundling isn't a good idea. Luckily at Esurance, quality coverages go hand-in-hand with quantity savings for both our home and auto policies.
Do I really save money?
On top of your Multi-Policy discount, some insurers, like Esurance, give you a single deductible for both policies. Here's how that helps you save:
A deductible is the amount you pay out of pocket before coverage steps in. If your home is insured with one company while your car's insured with another, you'll likely have a deductible for each policy.
Now, say you've insured both your home and car with Esurance. You only have one deductible for a claim involving both your home and auto. So if you ever back into the fence with your car — you'd only need to file one claim and pay one deductible to get both the car and the fence repaired.
When should I bundle policies?
Many insurers, including Esurance, offer more than one kind of insurance. Even if you don't own a home, adding renters to an existing auto policy, say, can earn you a discount on your car insurance premium. Typically, the more policies you buy from one insurer, the more savings you'll see.
What if I want to cancel my homeowners or car insurance?
Canceling either policy is easy-peasy with Esurance. Doing so, however, means your Multi-Policy discount will fall off. Make sure to speak with your insurer before canceling to get a good understanding of whether or not it's worth it.