Bundling Car and Home Insurance Saves $270 on Average

Louisiana's $505 Average Savings is Tops, Hawaii's $116 is Lowest

PR Newswire

SAN FRANCISCO, June 4, 2014 /PRNewswire/ -- Purchasing auto and homeowner's insurance from the same company leads to an average savings of $270 per year, according to a new insuranceQuotes.com report. That's a 15% discount.

The states with the highest average savings are Louisiana ($505), Oklahoma ($468), Texas ($435), Mississippi ($422) and Missouri ($366).

The lowest are Hawaii ($116), Florida ($147), North Carolina ($166), Vermont ($176) and Idaho ($190).

Click here to view the results for all 50 states and Washington, D.C.:

http://www.insurancequotes.com/home/bundling-insurance

"Consolidating your insurance policies with a single company is one of the easiest ways to save money," said Laura Adams, senior analyst, insuranceQuotes.com. She added, "The differences between states can be attributed to competitive and regulatory factors."

The average savings for combining car and condo insurance is 11%, and consumers who bundle car and renter's insurance receive an average discount of 8%.

insuranceQuotes.com and Quadrant Information Services calculated the average economic impact of purchasing auto insurance with either home, condo or renters insurance using data from the largest carriers (representing 60-70% of market share) in each U.S. state and the District of Columbia.

Click to tweet about this:
http://ctt.ec/1_o73 

About insuranceQuotes.com:

insuranceQuotes.com provides consumers with a free, easy way to shop for and compare insurance quotes online, and delivers information about auto, home, health and life insurance and other types of insurance.

For more information, visit http://www.insuranceQuotes.com, follow us on Twitter (https://twitter.com/InsuranceQts) or like us on Facebook (https://www.facebook.com/InsuranceQts).

insuranceQuotes.com is part of Bankrate Insurance. Other Bankrate Insurance companies include NetQuote.com and InsureMe.com.

For More Information:

Caroline Farhat
Publicist, Bankrate, Inc.
caroline.farhat@bankrate.com 
917-368-8638

View Comments (0)