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Written by Katie Rook

What is insurance bundling?

Bundling is an insurance industry term for opting to have each of your policies held by a single provider. It results in a discount of 5-15%, depending on the insurance company. It’s the most significant savings available.

Policies that are most often bundled include home and auto insurance. However, condo owners and renters are also eligible for savings when they bundle their home and auto insurance coverage.

You can also bundle the following insurance policies in Canada:

  • Condo + Auto: If you have condo insurance and own a car, bundling the two is an easy way to save.
  • Tenant + Auto: It's a common misconception that bundling is limited to property owners or multiple vehicle households. In fact, renters are eligible for savings through bundling as well when each policy is held with a single provider.
  • Auto + Auto: Households with more than one vehicle can bundle each policy and end up paying less overall.

Why should I bundle my home and auto insurance policies?

Aside from savings, bundling is also advantageous because:

  • You only deal with one insurance company
  • You can combine your bills and payment statements
  • You can align your renewal periods
  • You could have a single deductible
  • You can more easily identify any coverage gaps

To find out how much you can save, use our online tool to compare quotes for policies with home and auto insurance bundled. It takes less than three minutes and is free.

Average home and auto insurance bundle discount in Canada

Based on data from our Auto and Home Insuramap tools, we’ve put together the example, below, highlighting how significant the savings from bundling auto and home insurance policies can be.

In 2021, the estimated average Ontario auto insurance premium was $1,553. That for home insurance premium was $1,282.

In a scenario where the policies are bundled and a 15% bundling discount is applied, the total cost is $2,410. This reflects savings of $425 annually.

Things to consider before you bundle your home and auto insurance

  • Decide on coverage type and amount: One of the easiest ways to save on insurance is by tailoring your coverage. You only want to be paying for what you need and nothing more. Once you’re clear on the different policy types, figure out if it makes financial sense to add additional coverage. In general, you’ll pay less for less protection.
  • Shop the competitors: Comparison shopping is the single most effective way to lower your insurance costs. Using our free online tool, you can discover premiums from more than 50 of the most-trusted carriers across the country in less than three minutes. When you indicate that you’d like to your home and auto insurance policies, the free home insurance and car insurance quotes you receive will reflect a discount of up to 15%.
  • Revisit your coverage annually: Consider changing your policy every time it’s up for renewal when there will be no penalty associated with a switch. Your life circumstances may have changed and with it your coverage needs.

How to quote your home and auto insurance bundle on RATESDOTCA

Ready to compare quotes and save?

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Begin a car insurance quote. When you get to the discounts section, check “yes” if you’re interested in bundling.

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See quotes from multiple insurance companies side by side.

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Choose your policy

Find the right protection for your vehicle and your home.

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Connect with the provider and secure your rate.

Frequently asked questions about home and auto insurance bundles

What is a multi-line discount?

A multi-line discount is another way of saying bundling. Both terms refer to the discount you receive when you buy multiple different insurance policies, such as auto and home, from the same provider.

What happens if my home and car get damaged at the same time?

If there is an incident in which your home and car are both damaged, (for example, you reverse into your driveway, and your rear bumper hits your house), a bundled home and auto policy means you may only have to file one claim and may only have to pay one deductible.

Without bundling, you would have to file separate claims for home and auto, recounting the event for each insurer, and paying separate deductibles. Considering how much you can shave off your costs when you bundle your home and auto insurance, comparison shopping for the best policy is worth your while

How do I bundle home and auto insurance on RATESDOTCA?

It’s simple and fast. When you get a free car insurance quote on RATESDOTCA, you will be asked if you want to move your home insurance to the same company for a discount. Select “yes”. Once you receive a quote for the best policy with a home and auto insurance bundle, we’ll connect you with the insurance provider, who will ask a few more questions about your home, your car and your insurance history.

After using our free, online tool to get a home insurance quote, speak with a broker to find out more about how to save by bundling the new policy with any existing auto insurance policy.

When is insurance bundling not a good option?

We recommend bundling to most consumers; however, it may not be advantageous for those in unique circumstances. For example, if your home is not insurable, there’s no benefit to bundling it with auto insurance. Similarly, if you’ve been deemed a high-risk driver, you may only be able to get auto insurance coverage from a specialty provider which is unlikely to also provide home insurance coverage.

Save on home and car insurance bundles with RATESDOTCA

Bundling your home, condo or tenant insurance with your car insurance could save you hundreds of dollars each year.

Use RATESDOTCA to find a better rate. Compare quotes for insurance bundles today.

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