We can’t predict things in life like natural disasters or accidents. Purchasing insurance is an excellent way to prevent unwanted things. Especially if it is a really important thing such as our belongings or vehicle, we should do our best to protect it. Fortunately, many insurance companies offer renters and car insurance bundles.
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The Meaning of Renters and Cars Insurance Bundles
Before getting deep into the renters and cars insurance bundles, let’s define renters insurance first. Renters insurance is a type of insurance that protects someone living in a house or apartment.
If you pay for this insurance, you are paying to protect yourself and your belongings. You can ask for a claim for stolen items, medical payments, and get additional living expenses. The details differ from each insurance company, but that is the basic policy of renters insurance.
What is an insurance bundle? Buying more than one insurance from the same company is called bundling. So, if you buy renters and car insurance from the same company, it means you buy insurance bundling.
Do Renters and Car Insurance Bundles Save Money?
The answer to that question is different, depending on the person. While the idea of purchasing renters and insurance bundles might sound incredibly smart, we need to be as careful as possible.
If you are the type of person who does not like to be bothered, it is better to buy renters and car insurance bundles because it is cheaper and easier. It is indeed a smart action rather than paying multiple insurances separately in one company.
But if you want to save cost and do not mind checking and comparing insurance companies, you should contact them individually. Then, request a quote so you can decide if it is cheaper to buy bundle policies from one company or buy multiple policies from different companies.
Which Insurance Companies Offer Renters and Car Insurance Bundles?
There are many insurance companies offering renters and car insurance bundles because this is a common policy. If you already ask for a quote for individual insurance, there is a high possibility that they will offer you to buy renters and car insurance bundles, too.
Here, I have gathered 5 companies with the best price and service for a good recommendation.
1. State Farm
State Farm bundle policy covers renters and car insurance bundles at $190 monthly, the individual prices for renters and car insurance are $189 and $10 per month respectively.
With the bundle policy, you get a discount of 4.7% and you’ll get those insurance bundles only for $2,280 per year, instead of $2,388 if you buy separately.
The price for renters and car insurance bundles is quite low at State Farm, and it is a well-known company. Therefore, it is trustworthy and worth to try buying insurance bundles from this company.
2. Farmers
Farmers take it to the next level by not only bundling renters and car insurance but also adding life and umbrella insurance. With $443 per month, you can live peacefully knowing you are fully protected. The original prices for the renters and car insurance are $448 per month in total, so you get around a 0.9% discount.
You might think the discount is too little but that is still a pretty good price if compared with other companies out there. Besides that, Farmers’ insurance agents are mostly the locals. So, it will be easy if you need to discuss insurance in person.
3. AllState
The bundling offered by this company is life, renters, and car insurance bundles. The normal car insurance rate is $290 per month and $16 per month for renters insurance. Meanwhile, the price for the insurance bundle is only $299 per month. You can get so many discounts for a full bundle of insurance.
Getting insurance from this company is recommended for people who want a full package of insurance yet do not want to pay too much. Furthermore, AllState is the fifth largest company that opens its business in all 50 states and Washington D.C, so it is accessible and avail nationwide.
4. Liberty Mutual
This company offers a renters and car insurance bundle with a price of $243 monthly. It gives you a discount of 2.4% because the original price is $234 per month for car insurance and $15 per month for renters insurance.
The price might not be the cheapest and there might be other companies with lower budgets. However, it is still a standard price and the services are top-notch, you should give this company a try. Or at least, request a quote from them.
5. Geico
Offering renters and car insurance bundles at the price of $91 per month, Geico is the best cost-saving insurance company on this list. Initially, their original prices were not that expensive. You can purchase their car insurance for $83 per month and $13 per month for renters insurance.
But with an insurance bundle, you can save up to 4.0% of your money because they give you a discount. I’d recommend this company if you are trying to save your budget but still need both insurances.
Is Renters and Car Insurance Bundle Worth Buying?
Definitely, it is. Renters and car insurance bundles are worth the money as long as you choose the right one. A bit of advice before buying insurance is always to ask for a quote from the insurance agents and compare it with another company’s quote.
If you finally find the most beneficial and suitable for yourself, then you can decide to purchase it. Do not rush to make the decision and think ahead, which one will give you the most advantages? You can also discuss with the insurance agents first to make sure what the company can offer you. Lastly, having insurance is important because we do not know what will happen to us in the future. Thus, it is a backup if anything happens to us. Renters and car insurance bundles are a good way to protect yourself, your belongings, and your vehicles.