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Quoting Premiums for Combined Homeowners and Auto Insurance Coverage

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So they say that getting your auto insurance and homeowners insurance with one policy underwriter and in the next week or I’ll be figuring out whether I can find a better deal than I’m getting right now. Currently my auto insurance is through Geico, my homeowners insurance is through Travelers, and while they have an agreement with each other, neither gives an additional discount because the other policy is through their partner (as confirmed by a CSR on both ends). So, my plan now is to get a quote for both auto insurance and homeowners insurance from State Farm, Allstate, Progressive, Erie Insurance, and any others I may have missed (please leave comments if you know of one I should request a quote from).

My current auto insurance premium from Geico General Insurance Company is $344.90 per six months, or $689.80 per year. My current homeowners insurance premium from St. Paul Travelers Company is $712.00 per year.

That puts my annual total for both at $1401.80, or around 116.82 per month, let’s see if any of the above listed insurance companies can beat that.

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18 Responses to “Quoting Premiums for Combined Homeowners and Auto Insurance Coverage”

  1. CK says:

    What about folding your fiance’s car into the mix?

  2. jim says:

    I considered it but she pays $200/qtr for full coverage because she’s under her parent’s insurance policy (which would include their house and their two cars). The reason why that is possible is because the car is also co-registered in their name but she’s listed as the primary driver. While the co-registration had led to some headaches (her father had to be there to cosign the loan, etc.), it has led to tangible savings so it’s a net positive. My auto insurance lacks collision and comprehensive coverage.

  3. CK says:

    Back it up. You lack both collision and comprehensive? You must have quite a ride.

  4. jim says:

    Jonathan at My Money Blog self-insures his dental, I self-insure my collision and comprehensive… I drive a bright yellow 2003 Toyota Celica :)

  5. CK says:

    Have you blogged about the self insuring of collision and comp? I’d love to hear your logic.

  6. Cory Aldrich says:

    Do you have military connections? If so, you might be eligible for USAA. Some of the best rates available.

  7. Tool Man says:

    I have my auto insurance through Travelers and actually got money back from Travelers by signing up for renter’s insurance. Even that is a no brainer for me!

  8. jim says:

    No, unfortunately I don’t have military connections. My car was totalled by a driver insured by USAA and they were pretty easy to deal with… if a company is easy to deal with when they owe you money then they’re probably pretty easy to deal with when you’re paying them money.

    CK – I haven’t explained my logic, I don’t think, so keep an eye out for a post in a few days. :)

  9. It’s definitely worth checking out.

    I switched my homeowners insurance to my auto insurance carrier in August and got a 15% discount on my homeowners premium (about $120). FWIW, even without the 15% discount, my homeowners insurance was about $100 cheaper per year with the new carrier.

  10. 2 million says:

    Wow – $688/yr – you must have a heavy foot ;-) . I thought my insurance was pricey because the premium went from $298 to just over $400 per year over the last couple years without any incidents.

    I dropped the comprehensive and collision as well – good call. I self insure with a roll of duct tape if needed.

  11. King Asa says:

    What are you smoking… you think $688/yr is pricey? Most of my friends around my age who have cars that are only 2-3 years old are paying $600-$800 per 6 months. If you drive a POS car then I could understand it being cheaper.

  12. H20 says:

    I rolled my home and auto together under Farmers Insurance and dropped the collison on my beamer and pay only $300 / year to insure a 2001 BMW in Calif.

  13. bob says:

    your idea to save money on insurance is a first step in proper personal finance.

    but be aware that not all companies are equal in their pay out history or even in their ability to remain in business. this doesn’t even consider that the coverage amounts are all similar.

    in other words, company A might be cheaper than company B, but company A provides a smaller liability coverage. so, the ‘cheaper’ premium really isn’t cheaper. you just get less coverage. thus, company A might cost you $400 for $300,000 liability and company B might cost you $300 for $250,000.

    also, company A might have a reputation for being very tightfisted with pay outs to its claims where company B might have a reputation for being less rigid.

    how do you determine which company is best? you DO NOT go on premium cost alone. thats actually step #2.

    step #1 in finding the right insurance company is to review reputable evaluations from third party firms like consumer reports magazine which occasionally rates the insurance companies bassed upon multiple factors such as length of time in business, balance sheet figures, complaints to government agencies, etc. you then select the best of the ratings and compare those companies in step #2 …. premium costs. ( as stated before, a lousy company might offer you a cheaper premium… but that doesn’t matter…. you might not get your insurance pay out when you need it).

    last i knew, good solid middle of the road companies that have a good track record are ‘nationwide mutual’ (cars and home insurance) and ‘the hartford’ …. these companies offered products at good prices but also had good reviews by third parties.

    state farm, last i knew, seemed to find itself in the news routinely for bad stuff. as in, shady practices that skirted the laws which were designed by government to protect you, the consumer.

    as far as health insurance, if you are young (i.e. less than 30), you might get away with an inexpensive blue cross or blue shield type monthly health insurance premium so long as you have a HUGE deductable. after age 30, though, most adults do best with KAISER PERMANENTE MEDICAL SYSTEMS found in california, colorado, oregon, and maybe a few other states. the HMO is famous for a reasonable monthly premium that covers 99% of whatever might happen to you be it an auto accident or just the free flu shots that are included every year. IN FACT, KAISER HOSPITALS IN CALIFORNIA WERE JUST RATED IN THE TOP 20% OF HEALTH CARE SYSTEMS BY A THIRD PARTY REVIEWER… AND THIS WAS JUST THE LATEST IN A SERIES OF STUDIES IN WHICH KAISER WAS RATED TOPS FOR THE MONEY. of course, the predictability is also very important emotionally. that kaiser membership card you carry grants you full emtional well being because you know you’re covered from the moment you get sick or hurt with only a $10 co-pay or so depending upon the type of membership you have. I’VE BEEN A MEMBER OF KAISER FOR 20 YEARS AND FOUND IT TO BE FANTASTIC.

    as a young person, you want car insurance. you need it. a minimal coverage is better than none at all. you’ll be sorry if you drive without it. its even mandated by law. you HAVE to have car insurance in california.

    you want to buy health insurance, too. and Kaiser is the best bet when you can afford the monthly premiums because it covers virtually everything in your medical needs: immunizations, ER services, urgent care services, flat rate pharmacy meds, dietetic advice and counseling… everything.

    when you have a condo, or a mobile home, or a house… the lender requires you to obtain insurance for that, too. but not everyone has a house or condo, so focus on your needs. but never assume you’ll get through life without an accident or fire or problem of some kind. going without insurance sometimes is part of life… BUT YOU HAVE TO REMEMBER…. GOING WITHOUT INSURANCE IS A GAMBLE…. AND IF YOU ARE AN ‘UNLUCKY’ PERSON… YOU’LL LOSE.

  14. Steve says:

    Beware any quotes from Allstate or Esurance. These companies are notorious for giving extremely low-ball quotes, then jacking up the price by as much as 100% after you sign and drop your old coverage.

  15. Mr P says:

    I have auto insurance from Mercury Casualty. My quote shopping led me to conclude that they were the cheapest around. (This is in Cali). I am 24 and pay $700 / 6 months for a 02 BMW with 25/50/25 coverage with $1000 collision deductible.

  16. George says:

    For Midwest auto owners the best rates I found was from Citizens Insurance

  17. Anonymous says:

    the reason your annual premium is so low is because you are probably insured at the minimum required limit’s. More than likely you have many exclusions that many companies like to let you the insured figure out on your own after the fact of the loss which is no good. put if you can continue to avoid risk then good for you, but if a claim were to arise you could be screwed!!

  18. Marie Elmore says:

    I am 84 yrs old & have never been in an accident or even gotten a ticket.My car is a 1994 mercury marquis in excellent condition.I do not want full coverage,only what I am required to carry by my state of Ky.I also am interested in insuring my house together & would like a quote for both together.Thank you,Marie


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