Quick answer: Usually, but not always. Typically it is most cost effective to insure a home and auto with the same carrier which is called “bundling”. Insurance companies give nice discounts when you do this. It also makes your life easier when dealing with one online portal to manage your policies.
How big is the bundling discount?
It varies by carrier. In our experience it can be 10%–25%.
When does splitting win?
Teen or high-risk drivers (auto is expensive with one carrier, home isn’t), older homes or roofs (one carrier is strict on home), and high-value homes paired with auto policies in other states.
Other bundling benefits
One renewal date, one deductible on some combined claims, easier umbrella qualification.
A simple example
We recently worked with a family that had ERIE for their home coverage with Progressive on their auto. We were able to bundle both with Travelers to save them money and include an umbrella for better coverage.
The Charlotte angle
We are seeing a softening of the insurance market in Charlotte so now is the best time to remarket your coverage to find efficiencies and upgrade coverage.