The Advantages of Bundling: Apartment Renter Insurance and Car Insurance

Together with partner Keith Signoriello, Ben Cavallo is the principal and co-owner of C&S Insurance.

person sitting at desk using calculator

It’s easy to be overwhelmed by all of the insurance options to protect your home, vehicle, and other belongings. But what if we told you there’s a way to streamline your coverage — and save money while you do it? It’s referred to as bundling.

One of the most common and beneficial combinations is an auto and renters insurance bundle. Let’s explore the benefits (hint: cost savings) to understand how bundling these two areas of coverage can make a significant difference.

Benefits of Auto and Renters Insurance Bundle

Each type of insurance comes with its own benefits and policy terms. When you bundle auto and renters insurance, it simply means that you’re buying both policies from the same insurance provider. To start, let’s review what is typically included with each type of policy:

Renters insurance:

  • Personal property coverage
  • Liability coverage in case a guest is injured or has their property damaged at your home and you are found to be at fault

Auto insurance:

  • Damage coverage of your vehicle
  • Financial protection if you are found liable for damage to someone else’s vehicle

When you opt to purchase each of these coverages from the same insurer, there are benefits such as:

  • Cost Savings: One of the most attractive benefits of bundling is the potential for significant savings. Insurance providers often offer discounts to customers who purchase more than one policy.
  • Convenience: Managing insurance can sometimes be a hassle. With bundling, you deal with one insurance provider, one point of contact, and even one bill.
  • Unified Renewal Date: Juggling renewal dates can be confusing. Bundling renters and auto insurance usually means a unified renewal process, helping you keep track of your coverage more efficiently.
  • Better Customer Service: When you hold more than one policy with an insurer, you’re likely to get better, more attentive customer service. Your queries or claims are often processed faster, as companies prioritize their bundled customers.
  • Comprehensive Coverage Review: When you bundle, agents often review both policies at once, ensuring there are no gaps in coverage. This comprehensive review can help you understand overlaps or potential areas of concern, leading to a more tailored protection package.

Real-life Example of Auto and Renters Insurance Bundle

For a clearer understanding of bundling in a real life situation, take a look at this example:

Let’s consider Sarah, a city dweller who has just rented a chic apartment in downtown Boston. She also owns a car that she uses for weekend getaways and errands. Sarah initially chose separate insurance providers for her car and her new apartment.

Upon discussing her coverage with an agent at C&S Insurance, she learned the benefits of bundling. By combining her auto and renters insurance, Sarah was able to save 20% on her total premium, translating to hundreds of dollars in savings annually. Beyond the cost benefits, she now enjoys the simplicity of a single monthly payment and peace of mind that her belongings, both inside her apartment and her vehicle, are comprehensively protected.

Coverage Options

The best way to learn about all of your coverage options is by working with an experienced insurance professional. That will include reviewing add-ons for more protection, including:

  • Roadside Assistance: Emergency roadside service in the event your vehicle breaks down and cannot be driven
  • Rental Car Coverage: Reimbursement for a rental car while your vehicle is being repaired
  • GAP (Guaranteed Asset Protection) Coverage: Protection for a borrower if a car is deemed totaled. This coverage pays the difference between the value of the vehicle at the time of a crash and the remaining amount financed
  • Accident Forgiveness: An accident is not used against a driver when premiums are calculated
  • Valuable Items Coverage: Assistance covering the cost of lost or damaged items
  • Natural Disaster Coverage: Damage to a home caused by a variety of weather events
  • Loss of Use Coverage: Help paying for alternative housing if your place of residence becomes uninhabitable

FAQs

What are the benefits of creating an auto and renters insurance bundle?

Cost savings, convenience, a unified renewal date, better customer service, and comprehensive coverage review are some of the benefits you’ll see when you bundle renters and auto insurance.

Do I need renters insurance?

Renters insurance is required in some, but not all states.

Do I need auto insurance?

Like renters insurance, auto insurance requirements are determined at the state level.

What will my insurance bundle cover?

Policies are customizable, which is why it’s a good idea to work with an insurance agent who can tailor your coverage to your needs. Basic renter’s insurance typically includes personal property coverage and liability coverage. Auto insurance will cover damage to your vehicle, as well as financial protection if you are found to be at fault for damage to someone else’s vehicle.

Will I save money by bundling auto and renters insurance?

In addition to streamlining your coverage, cost savings is another benefit you can look forward to. Insurance providers often offer discounts to customers who purchase more than one policy.

Interested in how much you can save by bundling renters and auto insurance? You can request a quote from us online to start the conversation.

Let’s Talk About Bundling Your Insurance