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Best car insurance for homeowners
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As of 2023, the average national cost of car insurance is $2,014 per year for full coverage and $622 per year for minimum coverage. The average national cost of homeowners insurance is $1,428 per year for a policy with $250k in dwelling coverage. However, being a homeowner or bundling your home insurance and car insurance policies may result in savings on one or both policies depending on the provider and other factors. Bankrate’s research may help homeowners find the best car insurance for their unique needs based on their priorities, personal rating factors and location.
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Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. 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.
Home and car insurance bundles
If you own both a home and a vehicle, you’ve probably heard about bundling your insurance. While this may sound like combining your auto and home insurance policies, all it really means is buying both policies from the same insurance company. You may get a discount on one or both your policies for bundling, and it may come with other perks, too. For example, you may be able to manage your policies through one app or a single local agent. Some companies even allow you to pay a single deductible for covered perils that damage both your home and vehicle.
Bundling discounts for homeowners tend to be higher than condo unit owners and renters. Home insurance policies tend to be more expensive than condo or renters insurance policies, so insurance companies generally provide a larger discount in return.
Best car insurance companies for homeowners
To find the best car insurance for homeowners, we reviewed insurance companies offering both home and auto insurance. Car insurance rates, available discounts, policy offerings, financial strength and customer reviews were analyzed to find top companies with competitive average rates.
| Insurance company | J.D. Power score | Avg. annual premium for full coverage | Bundling discount offered? |
|---|---|---|---|
| Amica | 903/1,000 | $1,467 | ✔ |
| USAA | 890/1,000 | $1,361 | ✔ |
| Allstate | 889/1,000 | $2,630 | ✔ |
| State Farm | 882/1,000 | $1,480 | ✔ |
| Progressive | 861/1,000 | $1,642 | ✔ |
*USAA is not technically ranked with J.D. Power due to eligibility restrictions
Amica
One of Bankrate’s winners for Best Auto Insurance Company Overall in 2023, Amica offers a variety of coverage options. The insurance company doesn’t have many local offices, but it earned the top rank in J.D. Power's 2022 Auto Insurance Claims Satisfaction Study. Amica has fairly competitive average full coverage car insurance rates with a discount specifically for policyholders who own their home, even if it's insured with another carrier.
Learn more: Amica Insurance review
USAA
Although USAA policies are only available to active-duty and retired military personnel and their families, it does earn a high score from J.D. Power for claims satisfaction and offers unique military-focused coverage and discount options. In addition to bundling discounts, you might save with USAA if you garage a vehicle on base or if your parents are USAA policyholders. The carrier also offers some of the lowest average auto insurance rates on our list, so it may appeal to customers shopping on a budget.
Learn more: USAA Insurance Review
Allstate
Allstate has some of the highest average rates on our list, but its extensive list of discounts and rewards opportunities may make up for the high premiums. The carrier's deductible rewards program may lower your collision deductible for every year of safe driving, while the Safe Driving Bonus may be available for going six months without an accident. Allstate is one of our 2023 Bankrate Award winners for Best Home Insurance Company Overall, so if you're shopping for both home and auto coverage, it may be worth considering.
Learn more: Allstate Insurance review
State Farm
State Farm is the largest insurer in the nation for home and car insurance by market share. Even with its size, State Farm holds a strong auto claims satisfaction score from J.D. Power. The carrier's many local agents and highly-rated mobile tools may make it easy for homeowners to manage their home and auto policies with a single agency or app. In addition to a bundling discount, State Farm also offers a multi-car discount, which may help you save if your household needs to insure more than one vehicle.
Learn more: State Farm Insurance review
Progressive
Progressive falls short with a below-average claims satisfaction score from J.D. Power, but its highly-rated digital tools may appeal to shoppers who prefer to manage their policies virtually. Progressive offers a discount for homeowners, even if their home is not insured with the carrier. If you're on a tight budget or new to insurance shopping, you might appreciate the company's Name Your Price tool, which allows you to input your budget and explore coverage options within that range.
Learn more: Progressive Insurance review
Should I bundle my home and auto insurance?
Bundling may simplify your insurance shopping and help you save some money, but it might not be for everyone, especially if you have unique coverage needs. If you are considering bundling your car and home insurance, there are some potential pros and cons to consider, including:
PROS
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You may earn a discount on one or both policy premiums. Many companies advertise significant savings for bundling.
Working with a single app, website or agency may simplify your policy management.
You might be able to pay a single deductible for perils that damage both your home and vehicle.
Although your auto and home rates will still technically be separate, you may be able to pay a single premium for both policies.
CONS
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Even with a bundling discount, you may save money by purchasing home and auto from separate carriers if the cheapest carrier for each policy is different during the quoting process.
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Not everyone has the option to bundle policies. High-risk drivers may have to get nonstandard car insurance, for example, with a company that does not offer home insurance coverage.
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You may be less likely to shop around for a better rate in the future after a price increase and might end up paying more over time.
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You may have fewer options for policy customization. For example, the top home company for you may not offer many auto endorsements.
How to bundle home and auto insurance
Interested in bundling your insurance policies? These general steps may guide you through the process:
- Review your current policies for both auto insurance and home insurance, including pricing, coverage options and discounts.
- Get quotes from several companies that meet your insurance criteria and include bundling opportunities.
- Compare quoted bundling opportunities with your current coverage and premiums.
- Talk to your current insurance companies. Both your auto insurance company and home insurance companies may be able to offer bundling discounts. You may only have to switch one of your policies over.
- If you decide to make the switch, purchase your new policy or policies and cancel your existing coverage to change insurers without experiencing a lapse in coverage.
Frequently asked questions
Methodology
Bankrate utilizes Quadrant Information Services to analyze 2023 rates for ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:
- $100,000 bodily injury liability per person
- $300,000 bodily injury liability per accident
- $50,000 property damage liability per accident
- $100,000 uninsured motorist bodily injury per person
- $300,000 uninsured motorist bodily injury per accident
- $500 collision deductible
- $500 comprehensive deductible
To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2021 Toyota Camry, commute five days a week and drive 12,000 miles annually.
These are sample rates and should only be used for comparative purposes.