How to save on your auto and home insurance premium when they’re from the same insurance provider

Saving on your auto and home insurance premiums when they’re both from the same provider can be effectively achieved through several strategies beyond just the initial bundling discount. Here are some practical tips to consider:

1. Maximize Bundling Discounts: Ensure you’re getting the maximum discount available for bundling auto and home insurance. Sometimes, this involves explicitly asking your insurer if they have applied all possible bundling or loyalty discounts.

2. Review and Adjust Your Coverage: Regularly review your coverage levels. For home insurance, make sure you’re insuring your home to its replacement cost, not the market value. For auto insurance, consider if you still need comprehensive or collision coverage on older vehicles.

3. Increase Your Deductibles: Opting for higher deductibles on both your home and auto insurance can significantly lower your premiums. Make sure you choose a deductible amount you can comfortably afford in the event of a claim.

4. Maintain a Good Credit Score: Many insurers use your credit score as a factor in determining premiums. A better credit score can lead to lower insurance costs.

5. Implement Safety and Security Measures: Installing security systems for your home or anti-theft devices for your car can not only make you safer but may also qualify you for discounts on your premiums.

6. Claim-Free Discounts: Many insurers offer discounts if you go for several years without filing a claim. Maintaining a claim-free record can be advantageous.

7. Multi-Vehicle Discount: If you have more than one vehicle, ensure they are all insured with the same provider to take advantage of multi-vehicle discounts.

8. Ask About Other Discounts: Insurers often offer a variety of discounts for things like being a member of certain professional organizations, being retired, or driving a low number of miles each year. Always ask your insurer what specific discounts they offer and whether you qualify.

9. Regularly Shop Around: Market conditions change, and so do insurance rates. It’s wise to shop around and compare prices and coverage options every few years to ensure you’re still getting the best deal.

10. Pay Annually or Semi-Annually: Often, paying your premium in full annually or semi-annually instead of monthly can reduce your overall costs due to reduced processing fees or additional discounts.

Using these strategies not only helps in reducing your premiums but also ensures you maintain adequate coverage. It’s important to balance saving money with having the protection you need.