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Homeowner Car Insurance Discount

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Jeffrey Johnson graduated summa cum laude from the University of Baltimore School of Law and has worked in legal offices and nonprofits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman University and worked in film, education, and publishing. His professional writing has appeared on sites like The Manifest and Vice, and he is the author of a novel ...

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UPDATED: Feb 3, 2021

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Key Takeaways

  • Most car insurance providers offer car insurance discounts to homeowners
  • Homeowners can save an average of $75 on their car insurance by bundling
  • Getting a homeowner car insurance discount is as easy as updating your car insurance profile

You can also choose to bundle your home and car insurance to get discounted rates for both.

Read on to learn more about the homeowner’s discount and how to start getting one. Enter your ZIP code to start comparing rates.

Is car insurance cheaper if you are a homeowner?

Does being a homeowner reduce car insurance?

The short answer is yes, yes it is.

Owning a home is one of the factors that determines the price of car insurance. Being a homeowner qualifies you for the homeowner car insurance discount, which is offered by most insurance providers.

Why does car insurance go down when you buy a house?

Insurance companies look at a long list of different factors to figure out your insurance rate. Each factor is used to help them decide how much of a high risk driver you are.
Being high risk means you are more likely to file a claim, which will cost them money. The less likely you are to file, the lower your risk, the lower your rate.

But what does homeownership have to do with it?

Simply put, owning a home is a sign of financial responsibility. Not just anyone can qualify for a mortgage.

Financial responsibility is a point in your favor when it comes to overall responsibility. If you’re responsible with your money, surely you’re also a responsible driver.

While this logic isn’t necessarily ironclad, there is research to support the theory. Even if there wasn’t, the insurance gods have decided it matters, and so it does.

How can you add a homeowner discount?

If you’re looking to buy a home, are in the process of buying a home, or have just bought a home, don’t forget to see if your car insurance provider offers a homeowner’s discount.

Bundle Your Home and Car Insurance

The easiest way to do this is to sign up for homeowner’s insurance with the same provider when it’s time to renew your car insurance. This lets your provider know that you own a home, and will automatically qualify you for any homeowner discounts.

Buying your home and car insurance from the same provider can also save you money, thanks to insurance bundles.

According to a study from 2015, almost 65% of new homeowners choose to bundle their home and car insurance. By doing more business with one provider, you can get lower rates and additional discounts.

Update Your Car Insurance

If you aren’t ready to commit to home insurance from your current car insurance provider, there are still other ways to get that homeowner car insurance discount.

When you update your car insurance information online, look through your provider’s list of discounts. Be sure to select the homeowner’s discount.

Talk to a Representative

You can also contact your provider to speak with a representative directly if you’re not sure how to navigate their site.

Enter your ZIP code to compare the best bundled home and car insurance rates.

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