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Americans Save $314 Bundling Auto and Home Insurance

— New Study Finds: Americans Save $314 by Bundling Auto and Home Insurance —

AUSTIN, TEXAS (September 21, 2016)—According to a new nationwide study by insuranceQuotes, consumers save on average $314 (16.19%) per year by bundling their auto and homeowners insurance.

“Discounts for bundling auto and home, condo or renters insurance vary by state, and can help many consumers save more than $500 per year. Combining policies with the same insurer is a simple and easy way to reduce premiums,” said Laura Adams, senior insurance analyst for insuranceQuotes.

Here are the states with the highest savings for bundling auto and homeowners insurance:

  1. Louisiana – $584  (19.68% discount)
  2. Oklahoma – $541 (22.34%)
  3. Texas – $473 (17.30%)
  4. Kansas – $444 (22.07%)
  5. Mississippi – $430 (19.90%)


These states showed the lowest savings:

  1. Vermont – $183 (12.42% discount)
  2. Hawaii – $189 (11.15%)
  3. Utah – $191 (14.20%)
  4. Virginia – $193 (11.83%)
  5. Washington – $214 (14.15%)

“Combining policies usually saves money, however, there are scenarios when using separate providers could be a better option,” added Adams. “So always compare quotes both bundled and unbundled.”

The full report—including rankings and savings for all 50 states, plus condo and renters data—is available at /home/bundling-your-insurance-for-savings-092016


Methodology:

insuranceQuotes commissioned Quadrant Information Services to calculate rates using data from the largest carriers (representing 60-70% of market share) in each U.S. state and the District of Columbia.

About insuranceQuotes:

insuranceQuotes gives consumers a free, easy way to shop and compare insurance quotes online for auto, home, health, life and business. Follow on Facebook, Twitter, YouTube and Google Plus.