Combining home and auto insurance policies can lead to savings, but consumers should be cautious, according to Channel 11 Consumer Advisor Clark Howard.
While many insurance companies offer discounts for bundling auto and homeowners insurance, Howard warns that these savings might not always result in the best deal. He advises consumers to shop around and compare rates both separately and combined to ensure they are getting the best possible price.
“You will get a discount from most any insurer if you combine your auto and homeowners,” Howard explained. “Here’s the problem, though. You may be paying so much more with that company, even with the discount for the two together.”
Howard emphasizes the importance of comparing insurance rates from different companies. By doing so, consumers can identify whether the bundled discount truly offers savings or if separate policies might be more cost-effective.
Shopping around for insurance rates can help consumers avoid overpaying on their monthly premiums, which can be a significant financial burden.
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