Skip to Main Content
Car Insurance

Best car insurance for condo owners

Written by
Lizzie Nealon
  • /
  • 3 min read
Edited By
Amy Sims
  • /
  • 3 min read
Bankrate Logo

Why you can trust Bankrate

While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for . This content is powered by HomeInsurance.com (NPN: 8781838). For more information, please see our

Bankrate Logo

Why you can trust Bankrate

Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and reviewed by subject matter experts, who ensure everything we publish is objective, accurate and worthy of your trust.

Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you.

  • We guide you throughout your search and help you understand your coverage options.
  • We provide up-to-date, reliable market information to help you make confident decisions.
  • We reduce industry jargon so you get the clearest form of information possible.

All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first.

Bankrate Logo

Editorial Integrity

Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.

Key Principles

We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.

Editorial Independence

Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.

Bankrate Logo

How We Make Money

You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.

Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.

We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.

Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.

Bankrate Logo

Insurance Disclosure

This content is powered by HomeInsurance.com, a licensed insurance producer (NPN: 8781838) and a corporate affiliate of Bankrate.com. HomeInsurance.com LLC services are only available in states were it is licensed and insurance coverage through HomeInsurance.com may not be available in all states. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.

If you own a condo, you may know a bit about the specialized property insurance offered for these dwellings. But did you know that you can often save money by purchasing your condo and car insurance from the same company? Bundling insurance policies is one of many ways that customers may capitalize on savings by lowering premiums.

The financial security offered by insurance can be a great relief, but the rates can be steep. Instead of limiting your coverage, it may help to seek out methods to lower your rates without reducing your protection. Policy bundling, a discount offered by most providers, is one of the many ways to go about this.

Why choose an insurance bundle?

Insurance bundling is one of the more convenient ways to save on insurance. By purchasing your car and condo insurance from the same provider, you can often receive a discount on both policies. On top of that, condo owners may receive discounts that renters would not. From the provider’s perspective, the added stability of a customer owning their home can make them less financially risky to insure.

Best car insurance for condo owners

After considering some of the largest companies, by market share, that offer car and condo insurance, five were selected. These five were chosen based on their J.D. Power scores for property claim satisfaction, their bundling discounts and the number of further discounts available.

Nationwide

Nationwide received an 892 on the 2021 J.D. Power report, putting the company in the top five for customer satisfaction regarding property claims. The company offers bundled discounts and includes both condo and auto insurance in its product repertoire. Beyond bundling, Nationwide offers numerous discounts, with a focus on auto savings.

Learn more: Nationwide Insurance review

Amica

Amica scored 894 on the J.D. Power report, placing it in the top four for customer satisfaction on property claims. Amica offers bundling discounts, as well as many other types of discounts. Amica has a reputation for high customer satisfaction and low average rates, making them a strong candidate for condo owners who are looking for auto insurance.

Learn more: Amica Insurance review

USAA

USAA scored a 905 on the J.D. Power report but is ineligible for ranking due to its eligibility restrictions. USAA is restricted to military members and their family members, making it a less accessible insurance provider for many Americans. However, if you are eligible, this provider has some of the best scores for customer satisfaction, offers a robust array of insurance policies and includes bundling discounts.

Learn more: USAA Insurance review

Farmers

Farmers scored an 884 on the J.D. Power report, placing them in the top eight providers considered. Farmers has maintained a good reputation in the auto insurance industry and offers a wide array of auto coverage types. The company also offers both auto and condo insurance, and policy bundling is one of many discounts that it lists.

Learn more: Farmers Insurance review

Allstate

Allstate received an 882 on the 2021 J.D. Power report, placing it in the top ten. It is one of the largest auto insurance companies by market share and has a presence across most of the United States. The company also offers an array of discounts, including bundling and numerous discounts focused on auto insurance. Allstate places a focus on having live agents for customers to interact with, which can be a boon for some customers.

Learn more: Allstate Insurance review

Pros and cons of bundling

Pros

  • Bundling discounts are often among the most significant savings that insurance companies offer, usually saving policyholders between 10%-25% on their premiums.
  • Bundling policies can centralize policy documents with one insurer.

Cons

  • Bundling savings may not save you money in the long run. By accepting a bundling discount, you may hesitate to shop around for lower prices at other insurance companies.
  • It takes at least two policies to bundle. You can’t get a multi-policy discount, for instance, if you are only interested in purchasing condo insurance.

How to get an auto and condo insurance bundle

The first step is finding companies that offer both condo and auto insurance. Then, getting quotes for both policies can help you understand overall insurance costs with each insurer. Many companies offer between 10% and 25% bundling discounts. Some companies offer larger bundling discounts than others, so doing your research may help you save. An insurance broker may be able to help you narrow down which companies fit the bill.

Frequently asked questions

Who has the best car insurance?

The best car insurance company depends on your individual circumstances and preferences. If you care most about customer service, you may want to check out the companies with the highest J.D. Power scores. If you care most about keeping costs low, you may want to explore the cheapest car insurance companies on the market. If you’re unsure where to start, you may want to check out Bankrate’s picks for the best car insurance companies for 2022.

How much car insurance do I need?

How much car insurance you need will depend, in part, on your state’s laws and your lender’s requirements if your vehicle is financed or leased. Each state has its own laws around minimum car insurance. Beyond the state and lender requirements, how much car insurance you need depends heavily on you, your vehicle and your situation.

What is condo insurance?

Condo insurance is a type of property coverage that specifically pays out to cover losses at your condominium. Typically, condo insurance helps cover losses due to theft, fire and water damage, vandalism and more.

Written by
Lizzie Nealon
Insurance Writer
Lizzie Nealon is a former insurance writer for Bankrate. Her favorite part of the job is making home, auto and life insurance digestible for readers so they can prepare for the future.
Edited by
Amy Sims
Managing Editor

You may also like