How homeownership unlocks auto insurance discounts.
As a homeowner, you experience a lot of benefits. Not only do you have a place to put down roots, raise a family, and retire in, but you may also save money on your auto insurance. Here’s how owning a home helps some people save on their car coverage.
Bundling Home and Auto Insurance
One reason auto insurance is cheaper for some homeowners is that that they secure an auto policy from the same insurance company that they insure their home with. In most cases, bundling your home and auto can earn you a multi-policy discount and thus save you money. On the other hand, it is always prudent to check with your Westwood insurance agent to evaluate both alternatives by shopping multiple national carriers to provide the best money saving option tailored specifically for you.
Homeowners can save on their auto insurance if their home in a safe part of town and they keep their cars in a secured garage. Auto insurance providers might offer these homeowners lower rates because they consider their cars at lower risk for theft and vandalism. Unfortunately, if your home is in an area with high crime rates, your risk for car theft and vandalism is higher. thus. Your auto insurance rates would be higher.
Ultimately, while it’s true that some homeowners save on their auto insurance, this is not true for all homeowners. Do you have further questions about how homeownership affects your auto insurance? For assistance with all your coverage needs, contact an insurance professional at Westwood Insurance Agency today.