Can I Bundle My Car Insurance With Renters Insurance?

Bundling your car and renters insurance is possible from most major insurance carriers. Bundling often comes with benefits, with some carriers offering a multi-policy discount of up to 5% or more off of your auto insurance, renters insurance or even both policies. You also gain the convenience of managing your policies under one insurance company.^[1][2]

Keep reading to learn how an auto and renters insurance bundle works, which carriers offer it and the benefits of bundling.

What Does It Mean To Bundle Car and Renters Insurance?

Bundling auto and renters insurance means purchasing policies from the same insurance company. Insurance companies often offer incentives for bundling with them, such as discounts, but these can vary between carriers. While some insurers may offer different types of insurance, they may not offer any additional bundling benefits when purchasing multiple policies with them.

What Are the Benefits of Bundling Auto and Renters Insurance?

Bundling your auto and renters insurance together under the same carrier often comes with savings on your premium. Carriers prefer to have your business rather than have it go to a competitor, so they’ll often sweeten the pot by giving you discounts on your premium if you buy multiple policies under their umbrella. Depending on your carrier, you may see savings of hundreds of dollars per year.^[3][4]

Bundling your policies under one carrier may also simplify using your insurance. Many carriers allow you to check the status of your renters and auto using a single app or website, and it can be more convenient to check your policy info and claims in one place. Payment options may also be easier to manage since you may be able to pay all policies with a single bill.

Depending on your policy and insurer, you may qualify for a single deductible if you make a claim with both policies under the same covered event. For example, if someone broke into your car and stole some of your property, you might only have to pay a single deductible if you file a comprehensive claim on your auto insurance and a personal property claim on your renters insurance.

What Are the Drawbacks?

Even if an insurer offers a bundle discount, it may still cost less if you insure your car and apartment under separate carriers. Always ensure you shop around to understand what deals carriers can give you, as you may find the savings one insurance company offers can beat a bundle deal.

While price is important, don’t forget about customer service.

Switching insurance companies to qualify for a bundle discount may save you money, but the new carrier may have poor overall customer satisfaction and a cumbersome claims process. Before switching carriers, look at their customer reviews and business ratings to help you make an informed decision before switching either or both of your policy carriers.

Which Providers Have Auto and Renters Insurance Bundling?

Most major insurance companies will offer a bundle discount if you bundle your auto and renters insurance, although smaller and regional carriers may offer a bundle discount as well. Below are a few insurance carriers offering bundle discounts for auto and renters insurance.

^{*USAA is only available to military members, veterans, their spouses and other eligible family members}

Who Should Consider Bundling Auto and Renters Insurance?

Renters who want to save money on their auto or renters insurance may want to consider bundling if they can’t find a better deal from another carrier. Bundling typically has no downsides and only requires you to remain with the same carrier for all bundled policies. Additionally, those looking to reduce the management of paying multiple bills to different insurers should consider bundling, as it often lets them pay with a single bill and manage their policies under a single app or website.

Who Shouldn’t Consider Bundling Auto and Renters Insurance?

If you rent but don’t own or lease a car, you won’t need to bother bundling auto and renters insurance since you don’t need auto insurance. However, some carriers, like Allstate, offer bundling options for renters and motorcycle insurance if you drive a motorcycle instead of a car.^[6] Similarly, if you don’t rent but own a home and have a car, you can consider bundling homeowners and auto insurance.

If you have renters or auto insurance policies with different carriers and don’t want to drop either, bundling will not benefit you, as it would require you to leave one carrier or both for a new plan. You may have a special deal with one insurer that you can’t get with the other, or one may have better customer service but only offers renters or auto insurance. Ensure you check your options before assuming bundling is always the right move and switching to your coverage.

How Much Can You Save When Bundling Auto and Renters Insurance?

Depending on which carrier you bundle your auto and renters insurance with, you may see a discount on your auto insurance or renters insurance or both. For example, Travelers will provide a bundle discount of up to 5% on your auto insurance premium, meaning you might see savings of up to $100 if your auto policy costs $2,000 per year.^[1] Meanwhile, Nationwide and State Farm advertise a flat average savings rate of $176 and $704, respectively.^[4][3]

How To Bundle Auto and Renters Insurance

If you believe you could benefit from bundling your auto and renters insurance, you’ll first want to check to see if bundling is an option from your current auto or renters insurance company. Contact your carrier and ask if they have bundle options available, and they should be able to assist you. If you’re already a policyholder with another company and want to switch, ensure you don’t accidentally leave a lapse in coverage with either your auto or renters insurance. Otherwise, depending on which type of policy you switch, you may face penalties with your landlord for lack of renters insurance or the state for not having minimum auto coverage.

If one or both of your existing policies don’t offer bundling or you’re looking for a new insurer that does, you’ll want to shop around to get quotes from three to five insurers.

This will help give you an understanding of what options are available. Keep in mind that you’ll typically need to give information on your rental, personal information and vehicle information to each carrier one at a time, which can become tedious.

Consider using an insurance marketplace like SmartFinancial to help speed up the process and get you a carrier that offers coverage for all your insurance needs at a price that meets your budget. After answering a brief questionnaire, we’ll connect you with a licensed insurance agent to help you find the auto and renters insurance plan you’re looking for. Use SmartFinancial to get a free auto insurance quote or to get a free renters insurance quote today!