is it a good idea to combine my car insurance with home owners insurance?
Posted on Jul 10, 2008 under Insurance Information |With Farmers Insurance? Is there a catch to it, since it sounds too good to be true. My old policy is only liability and covers around $15,000 per accidents, (monthly is $43.00). The new policy covers 100,000 per accidents and up to 300,000 (Monthly is $45.00). I was told there is a discount for the homeowners insurance too if i add all the cars in (3). And only saved $100. But with all the car insurance Were paying for, am i really saving anything?? I am confused??
July 10th, 2008 at 8:22 am
Yes but don't drive you car it to your house. lol
July 10th, 2008 at 8:22 am
The majority of insurance companies out there will give you a discount for multiple policies and they 'sweeten' the pot for you as a buyer because you are giving them more money in the long run.
July 10th, 2008 at 8:22 am
Alot of people do it but it is like putting all you eggs in one basket. One thing goes wrong with one of the eggs and the whole policy goes up. Something is bound to happen eventually. Personally I like the separation of accounts.
July 10th, 2008 at 8:22 am
You would have to compare what you were paying before for all these policies to what you will be paying with the new one. Sit down with a calculator & all your policies in front of you & add them all up, then compare to the new figure that you were given. Good luck.
July 10th, 2008 at 8:22 am
You are comparing apples to oranges. you have very minimum coverage now. If you don't need more, don't change. But when I added my cars to the homeowners, I stayed at the same level of coverage and I got a much better price. Perhaps you should check with a different insurance company entirely! just make sure you figure out what coverage you want in each area and just get quotes for that alone. You can do it online…or by phone. also I would check and see if you could have the origional arrangements on our car insurance and use that coverage and have it combined, perhaps they are just trying to up sale you.
July 10th, 2008 at 8:22 am
Usually when you have all your insurance with the same company they do give you a discount. Call your insurance and have him do the math. It may not seem like you are saving anything but it seems to me like your insurance coverage on the cars went up.
July 10th, 2008 at 8:22 am
You could get a multi-line discount.
July 10th, 2008 at 8:22 am
if you want one single payment sure why not.
July 10th, 2008 at 8:22 am
First off you can't have an auto accident and expect $15,000 to cover it. Most cars cost more than that so you are responsible for damage above your insurance and you will be sued. That's why I have to have under insured as well as uninsured drivers insurance. If you hurt someone, it can cost millions. If you own anything, it can be taken away from you. You need adequate insurance. The increased amount is actually a minimum for those that are responsible. If you get homeowner, they will give you reduced rates because you have both policies with them. If you have an accident in car or home, the insurance will pay for it and you will be forever ahead. If you don't need to use it, just count your lucky stars. My house burned to the ground and I had inadequate insurance but was glad for any help I got. I lost so much. Insurance agents are trying to make a living but this one sounds like he is trying to put you in a better place and it is still costing less money. Go for it.
July 10th, 2008 at 8:22 am
Yes. Insurance companies give you discounts as you cover more items with them. Auto/ Home/ Life, this is because you are less likely to leave there company. You have also gone from state minimums to average coverage. You are less risk to the company, this is also why your rates aren't very much more. Next step probably only cost another $2. per month and now you would have 250/ 500,000 coverage. It is also worth considering in our sue happy society.
July 10th, 2008 at 8:22 am
Well, the main advantage is the money savings. It's usually worth it, because depending on what state you are in, you can save 20% off BOTH the car and the house insurance or even more.
July 10th, 2008 at 8:22 am
I could not completely make certain that my answer is the ideal one for you,it should be useful though,check out here.http://car-insurance.online-tips.info/free-car-insurance-rate-quote.html
July 10th, 2008 at 8:22 am
You will get a cross policy discount for having a home and auto policy with farmers. I have farmers myself.
It might be a good idea to shop around and see which company has the best package deal for you. You can talk to a local agent. You can connect with one at no cost at http://www.myinsurancequotes.net. Fill out the quote form and a local agent will call you and help you through this.
Jared Balis
http://www.utahinsurance.org
July 10th, 2008 at 8:22 am
Is it a good idea to combine my car insurance with home owners insurance? NO!
If you do combine insurance for home and auto, do it with a more reliable company. Farmers Insurance is a lowballing claim denying company. You must see the web site below!
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