- Cheapest home and auto bundles in Montana
- The companies offering the cheapest home and auto bundles in Montana
- Biggest home and auto bundle discounts in Montana
- How do home and auto bundles affect car insurance rates in Montana?
- How does bundling home and car insurance work?
- The pros and cons of home and auto insurance bundles
- Should you bundle home and auto insurance in Montana?
- Methodology
- Auto insurance FAQs
Cheapest home and auto bundles in Montana
The price you pay with a home and auto bundle depends on the base prices for the home and auto policies plus the amount discounted on each policy. The table below shows the average rates for home insurance and auto insurance and how much the total premium is with and without the bundling discount.
The cheapest car and home bundles in Montana are from USAA, followed by Nationwide.
| Company | Home premium | Auto premium | Bundle premium | Without bundle premium |
|---|---|---|---|---|
| USAA | $2,356 | $906 | $3,003 | $3,262 |
| Nationwide | $2,211 | $1,517 | $3,188 | $3,728 |
| State Farm | $2,865 | $1,526 | $3,290 | $4,391 |
| Allstate | $2,404 | $3,213 | $4,725 | $5,617 |
| Farmers | $3,545 | $2,769 | $5,045 | $6,314 |
The companies offering the cheapest home and auto bundles in Montana
USAA
Our take: If you are eligible for USAA membership, the insurer’s competitive rates are hard to beat. While only available to military members, veterans and their families, if you’re eligible USAA it’s worth considering the company for auto and home insurance. Its auto customers rate the company highly for customer satisfaction, ease of service and more. Its home insurance customers give it high scores for its digital experience and its great discounts.
Nationwide
Our take: Nationwide auto customers give it high marks for affordable rates and claims satisfaction. Its home insurance rates aren’t the lowest, but they are still cheaper than many competitors. Nationwide, the tenth-largest property and casualty insurance company in the nation, ranked third for claims satisfaction in J.D. Power’s 2023 survey.
Biggest home and auto bundle discounts in Montana
With an average of 25%, the largest discount for bundling home and auto insurance can be found at State Farm. On the other hand, at only 8%, the smallest multi-policy discount of the companies analyzed belongs to USAA.
| Company | Home and auto bundle discount |
|---|---|
| State Farm | 25% |
| Farmers | 20% |
| Allstate | 16% |
| Nationwide | 14% |
| USAA | 8% |
How do home and auto bundles affect car insurance rates in Montana?
The table below shows Montana auto insurance rates before and after applying a bundling discount. The most affordable rate after the multi-policy discount belongs to USAA at $869. The largest discount on auto is offered by Farmers at 22%.
| Company | Auto premium before bundling | Auto premium after bundling | $ difference after bundling | % difference after bundling |
|---|---|---|---|---|
| USAA | $906 | $869 | $37 | 4% |
| State Farm | $1,526 | $1,278 | $248 | 16% |
| Nationwide | $1,517 | $1,325 | $192 | 13% |
| Farmers | $2,769 | $2,147 | $622 | 22% |
| Allstate | $3,213 | $2,574 | $639 | 20% |
How does bundling home and car insurance work?
The concept of bundling is pretty basic. You buy more than one type of insurance from the same company and, in exchange for the increased business, the insurance company gives you a discount. And there’s an additional benefit for the insurer for offering bundles: Customers who bundle are more likely to renew their policies.
You typically get discounts on both car insurance and home insurance when you bundle coverage. The discount isn’t equal for both policies. Each provider has its own discount formulas. Companies may offer a more substantial discount on one than the other.
The pros and cons of home and auto insurance bundles
The biggest benefit of bundling your home and auto insurance is a decreased premium.
But keep in mind that you won't always save money bundling. You could find an insurer with a low price on one of the two policies, which could result in better savings than a bundle. Here’s how that works:
- If you currently pay $1,000 for car insurance from one insurer and $1,200 for home insurance from another, that's a total of $2,200.
- But let's say you decide to buy your home insurance from your auto insurer. The cost for the new home insurance policy is $1,500, or $300 more than your current cost.
- Your total rate under the bundle would be $2,500, a $300 increase.
- That means you'd need a bundle discount of at least $400 or so to lower the total bundle rate enough to save money compared to the price you currently pay for separate policies.
That's why you should compare home and auto insurance bundle quotes to what you're paying for separate policies. Rates on bundles aren't always lower.
Should you bundle home and auto insurance in Montana?
Prior to signing up for an auto and home bundle, it’s important to shop around. Bundling your car and homeowners insurance has many advantages; you only have to deal with a single company and with a single bill, and you typically get a discount on both policies. Yet bundling isn’t always the best deal.
Some companies have cheap car insurance rates but less competitive home insurance rates, and vice versa. You might pay less overall by choosing two different companies for your insurance.
Shop around and evaluate Montana car insurance rates on an individual basis and with a bundling discount to make sure you’re getting the best deal before you buy.
Methodology
In the spring of 2023, Insurance.com analyzed rate and discount data from Quadrant Data Services. The rates, from 2022, are the most recent available to Insurance.com and are based on a 40-year-old male driver with a 12-mile daily commute, good credit and a clean driving history. Rates were fielded for a full-coverage policy (100/300/100 with a $500 collision and comprehensive deductible). Homeowners insurance rates are based on $300,000 in dwelling coverage with $300,000 in liability and a $1,000 deductible.
Auto insurance FAQs
How do I cancel my insurance and bundle with another company?
You should have your new policy ready to go first, as you want to avoid a lapse in coverage. Once you have the new policy start date, give your car or homeowners insurance company at least a 30-day notice of your cancellation. You can set the start date of your new policy for the day your old policy ends. By doing so, you'll ensure that your former company will stop billing you by the time your new policy is in effect. You'll also prevent any coverage gaps between the canceled policy and the new one.
Which insurance companies bundle home and auto insurance?
Almost every insurance company offers a bundling discount, often called a multi-policy discount. Multi-policy discounts aren't just for auto and home. They often include other home insurance policies like renters and condo, as well as motorcycle insurance and in some cases life, RV, boat, and others.
What type of insurance policies can I bundle?
Multi-policy discounts can also apply to other types of insurance policies that you buy from the same insurance company. Depending upon the insurer, you may also be able to bundle these types of insurance policies:
- Condo
- Renters
- Motorcycle
- RV
- Life
Some auto insurance companies don't write homeowners insurance, but some may align themselves with a home insurer to offer a discount. Ask your agent or customer service representative to see if you can bundle multiple insurance policies.
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