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Stable Residence 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: Mar 2, 2021

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Key Takeaways

  • A stable residence car insurance discount gives savings to policyholders who have lived at the same residence for at least a year
  • Policyholders who own their home may qualify for a homeowner’s discount, since homeowners are seen as financially stable
  • You may also be able to save money by bundling your home and auto insurance, but you should do plenty of research before making your decision

Finding cheap car insurance may be challenging, but you may be able to save money by qualifying for discounts. If you’ve lived at the same address for some time, you may qualify for the stable residence car insurance discount.

Below, we’ll discuss this discount as well as how homeowners may be able to save on their car insurance.

Before you begin reading, enter your ZIP code into our free quote comparison tool above to compare car insurance quotes now. Always do your research before you buy car insurance.

What is a stable residence car insurance discount?

A stable residence car insurance discount offers savings to policyholders who have lived at the same address for at least a year.

Some car insurance companies consider the length of residence when determining car insurance rates since you are perceived as more stable the longer you have lived at the same address.

However, the stable residence car insurance discount doesn’t seem to be a popular discount offered by many top car insurance companies.

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Can I save money on my car insurance if I own my home?

The short answer is yes, you can save money on your car insurance if you own your home. While most insurance companies don’t offer the stable residence car insurance discount, many of them offer homeowner’s insurance discounts.

Car insurance companies offer these discounts since policyholders that own a home or condo are considered financially stable. Some of the top companies that offer discounts for homeowners are Progressive, Liberty Mutual, Farmers, and Travelers.

Most insurance companies will require proof of homeownership to qualify for the discount. This could include your homeowner’s insurance policy, tax statement, or a mortgage coupon.

Should I bundle my home and car insurance?

While it’s true that the above methods will save you a bit of money on your car insurance rates, if you own a home and car, bundling your insurance policies may earn you cheap car and home insurance.

Below, you can see the savings you may be able to get by bundling your policies with some providers:

Bundled Six-Month Rates for Car and Home Insurance by Provider
CompanyAverage Six-Month Homeowners and Car Insurance Rates% Savings Versus Car Insurance Only$ Savings Versus Car Insurance Only
Allstate$8948.54%$76
Farmers$65922.05%$145
GEICO$5832.97%$17
Liberty Mutual$75011.71%$88
Nationwide$63611.90%$76
Progressive$70710.55%$75
State Farm$54917.57%$97
USAA$5253.84%$20
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You should still take the time to compare prices from multiple companies. In some cases, you may be able to find that you’ll save money by having two different policies with different companies, so bundling may not be the best option for you.

Which car insurance company is cheapest? Possibly one with a stable residence car insurance discount. Enter your ZIP code into our free quote comparison tool below to find car insurance companies near you.

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Enter your zip code below to view companies that have cheap auto insurance rates.

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