LOS ANGELES, CA / ACCESSWIRE / July 12, 2020 / Compare-autoinsurance.org (https://compare-autoinsurance.org/) is a top auto insurance brokerage website, providing car insurance quotes online from trustworthy agencies all over the United States. This website has recently launched a new guide that explains how being a homeowner will help drivers pay cheaper car insurance.
Many drivers pay cheaper car insurance, just because they own a home. Bundling policies together is one of the easiest methods used to save money on car insurance. In most cases, insurance providers that sell auto policies, are also selling home insurance. If the policyholder is a homeowner, he can bundle auto and home policies together, in order to save money on both policies. However, owning a house doesn't necessarily mean you will automatically get a discount. It is important to ask the insurance company if they offer a discount and its value.
Before bundling home insurance and car insurance, consider the following:
- Bundling can be beneficial. Drivers can save between 5% to 25% on each policy if they decide to bundle. It's very convenient, and they won't have to deal with multiple providers, multiple billing systems, and multiple accounts. If they have multiple costly claims or accidents on their driving record, they can decrease the chance for current insurers to drop them by bundling home and car insurance. Policyholders can save even more on auto insurance if they have multiple cars, homes, or a spouse.
- Bundling has its disadvantages. Policyholders that have bundled policies may forget the importance of shopping around. In this case, they will not notice the small rate changes in their individual premiums. Buying separate car insurance and home insurance policies can be cheaper for some policyholders. In some cases, insurers that offer bundling policies, rely on other providers for home insurance. In this case, you won't have the ability to choose your home insurance provider and you will have to deal with multiple insurers in the event of a claim. If you own an expensive high-end car, don't expect to save too much on a bundled policy. Also, bundling can reduce the individual insurance limits of your policy.
Besides bundling, homeowners can save car insurance money through other means:
- Better credit score. Someone who owns a home is likely to have a better financial situation than someone who is renting or paying off a mortgage. Homeowners, usually have a better credit score than people who rent the place where they live. The credit score is an important factor that is used by insurers to determine the insurance rates paid by a policyholder. Drivers with a high credit score will pay lower car insurance premiums than those with a lower credit score, even though the other factors that help insurers to determine the premiums are the same.
- Safer neighborhood. You will pay less on your insurance if you live in a safe neighborhood. Your ZIP code is very important for your insurer. With the help of the ZIP code, the insurance provider can find out how many claims are in an area, vehicle theft ratio, number of break-ins, act of vandalism, and so on. Luckily, it doesn't matter if you own or rent a house for your insurer that checks your ZIP code.
Compare-autoinsurance.org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc.
For more information, please visit https://compare-autoinsurance.org.
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