In all likelihood, you probably already know that you need home and auto insurance.  Chances are you couldn’t get a mortgage or car loan without specific insurance requirements being met.  So like most people, you bought your homeowner’s policy when you got approved for your loan and just let the bank’s escrow department take care of the bills. 

If you are like most people, you’ve never looked at your home insurance policy again after you purchased your house save for the periodic notices of increase in premiums. Or, unless disaster strikes and you need to make a claim.  You probably never really looked at your auto insurance after buying your car either, except to grumble at the high premiums.

The majority of people will shop around for the best rates at the time they need the insurance, but never consider bundling home and auto insurance.  What most people aren’t aware of is that you can save quite a bit of money by insuring both your home and your auto with the same company.  Sometimes, this can amount to a savings of 15% in premiums.  Over the course of several years, this savings can be tremendous.

Most insurance companies offer this option, but not all insurance agents will tell you about it.  Quite frankly, there’s no incentive for them to do so, since it can mean reduced commissions for the agent.  You’ve got to ask to get it and even then, some will tell you it’s not such a great idea, because they are two different products and should be purchased and handled separately.

One way to find out whether buying your home and auto insurance from the same company will benefit you is to simply ask each company that you’re currently insured with.  Just tell them what you want to accomplish and ask for a quote if you switch over.  You may be surprised to find out that they are more than happy to accommodate you and will give you a better rate than you would otherwise pay.

If you’re serious about wanting to save money on your home and auto insurance, consider using an online insurance rate comparison site. These sites typically have you fill out a questionnaire regarding your property and cars you want to insure and then generate quotes from different companies that you can then contact for further information. This is a quick and easy way to find out what products are available and what your average costs can be.

The beauty of using online insurance quote comparison sites is that you play “what if?” to your heart’s content.  You can plug in different values for each component of the home and auto insurance coverage and you’ll see rates based on those scenarios.  For example, you can see the differences in premium costs if you decide to install a remote home security system, or if you raised your deductible from the typical $500 to $1000 or even more.  So, do your homework and you’ll soon be pocketing more savings.