Bundle Home and Car Insurance: How to save up to 25%
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Discover the methodologyBundling your home and car insurance in Canada can lead to significant savings on your premiums of up to 15%. It simplifies managing your insurance policies by having them with one provider.
Plus, many insurers offer attractive discounts for bundling, making it worth exploring for cost-effective and convenient coverage solutions. So let's dive in and explore how bundling home and car insurance works, the pros and cons, and the best offers out there.
You can use our free tool to compare the best home and car insurance quotes and get the best deal today.
House and Car Insurance Canada: 5 Key Takeaways
- Bundling house and car insurance can save you money and simplify your life.
- Ensure that bundled policies offer adequate coverage without sacrificing anything.
- Compare quotes and consider individual needs to get the best deal.
- Factors like driving record and home security influence insurance premiums.
- Re-evaluate insurance needs annually to maintain optimal coverage at the best rates.
What is home and car insurance?
House and car insurance are separate policies that cover different things:
- House insurance (also called homeowners insurance or property insurance) protects your home and its contents from damage caused by fire, theft, weather events and other covered perils.
- Car insurance protects you financially in case of an accident involving your car. It can cover damage to your car, injuries to yourself and others and liability for property damage.
You can use insurance bundling to get house and car insurance together, i.e., getting both from the same company. House and car insurance bundle can often lead to a discount on your overall premium since the insurance company sees you as a lower-risk customer by insuring multiple things with it.
You can explore the best home and car insurance quotes online right here using our free tool below. Compare bundles and get the best deal.
Compare Canada's best car insurance plans
Why should you consider a home and car insurance bundle?
There are two main reasons to consider bundling your home and auto insurance policies:
- Save money: This is the biggest perk. Insurance companies reward customers who bundle their policies with discounts on their premiums. The exact amount you save can vary depending on the insurer, your location and your individual coverage needs, but studies suggest it can be up to 16% on average.
- Convenience: Managing everything with one company simplifies your life. You'll only have one bill to pay, one customer service number to call and one set of policy documents to keep track of. This can save you time and hassle, especially if you need to make a claim.
However, bundling isn't always the best choice. Here are some things to keep in mind:
- Don't sacrifice better coverage: Loyalty shouldn't trump better insurance. Make sure the bundled policy offers the coverage you need at a competitive price. It's always a good idea to compare quotes from several different insurers before you decide.
- Not all companies offer the best bundle: Some insurers might not offer the most competitive rates for bundled policies. Do your research and compare quotes to see if bundling with your current provider is truly the best option.
Who has the cheapest house and car insurance?
There's no single company that can definitively be crowned the cheapest for house and car insurance across Canada. The reason boils down to how insurance premiums are determined. Here's why it's difficult to pinpoint the absolute cheapest option:
- Individual factors: Your age, driving record, location, claims history, the type and value of your car and home and your desired coverage all play a role in calculating your premium.
- Company specialization: Some insurers might cater to specific demographics or offer better rates in certain provinces.
Companies with great home and car insurance bundles
That said, here are some of the leading house and car insurance companies in Canada — with details of their discounts:
| Insurer | Bundle Discount |
|---|---|
| Allstate Insurance | Bundle your car and home insurance for potential savings of up to 25%. |
| Aviva Canada | Save up to 15% by bundling your auto and home insurance! |
| Belairdirect Insurance | Get up to 10% off your home insurance and up to 15% off your car insurance. |
| CAA House and Car Insurance | Enjoy a 10% discount on auto insurance and up to 12.5% off home insurance. |
| Co-operators Insurance | Save up to 15% when you bundle car and home insurance policies. |
| Desjardins Insurance | Receive up to 35% off your premium when bundling home and car insurance. |
| Economical Insurance | Save up to 15% by bundling your auto and home insurance! |
| Intact Insurance | Get up to 15% off car insurance and up to 5% off home insurance with bundling. |
| Onlia Insurance | Save up to $750 with bundled policies – 15% off auto insurance and 20% off home. |
| Optimum Insurance | Save up to 15% by bundling your auto and home insurance! |
| RBC Insurance | Potentially save up to 15% by bundling car and home insurance. |
| Sonnet Insurance | Save up to 15% by bundling your auto and home insurance! |
| TD Home and Car Insurance | Save up to 15% by bundling your auto and home insurance! |
| Travelers Insurance | Bundle your policies to save up to 10% on car insurance or up to 13% on home. |
| Wawanesa Insurance | Bundle your policies to save up to 10% on car insurance or up to 13% on a home. |
Getting a personalized house and car insurance quote is always beneficial. You can do it right here using our free tool below.
Compare Canada's best car insurance plans
Does house and car insurance cost the same everywhere?
No, the cost can depend on a lot of factors, especially if you bundle your policies. Let’s take house and car insurance in Ontario and house and car insurance in Alberta, for example.
Auto insurance: Both provinces have private insurance systems, meaning you can shop around for the best rates from different companies.
- Alberta generally has slightly lower average auto insurance rates compared to Ontario.
- This might be due to factors like lower population density and potentially fewer accidents.
House insurance: Both provinces require coverage against standard perils like fire and theft, but some specific risks might differ:
- Ontario is more prone to flooding and sewer backup, so these might be emphasized in policies.
- Alberta is more susceptible to hail and windstorms, so coverage for these might be more prominent.
Other potential differences:
- Regulations: Minor variations in provincial regulations might exist, but the core principles of car and home insurance remain similar across Canada.
- Company availability: A few insurance companies might operate primarily in one province or the other. However, many major insurers operate across Canada.
Can you bundle life insurance with your car and home insurance?
Bundling life insurance with car and home insurance in Canada is less common than just home and auto policies.
Wondering why? They have different insurance specialties!
Property and casualty (P&C) insurers typically focus on car and home insurance, while separate life insurance companies offer life insurance.
However, there are still some possibilities:
- Bundling with a life insurance company offering home and auto: A few life insurance companies in Canada might offer home and auto insurance alongside life insurance, allowing you to bundle all three for a potential discount.
- Discounts from P&C companies for existing customers: Some P&C insurers might offer a discount on life insurance if you're already a customer with their home and auto insurance.
Contact your current P&C insurer to find out if bundling with life insurance is an option. Ask them if they offer life insurance or provide discounts for existing customers who purchase life insurance elsewhere.
How to get cheap home and car insurance?
Most insurance companies incentivize bundling with discounts ranging from 5% to 15% on your overall premium. Bundling can save you a lot.
Here are some other ways to help you snag a cheap house and car insurance bundle in Canada:
Be a safe driver and maintain a good home:
- A clean driving record with no accidents or speeding tickets equals lower premiums. Similarly, security features on your car can lead to discounts.
- Implementing home safety measures like fire alarms and deadbolts can reduce your home insurance costs.
Increase your deductible:
- A deductible is the amount you pay out of pocket before insurance kicks in.
- By opting for a higher deductible, you'll see a decrease in your premium.
- Remember, this translates to a higher upfront cost in case of a claim.
Seek additional discounts:
Many insurance companies offer discounts for things like:
- Being a mature driver (over 50)
- Having loyalty with the same company for multiple policies
- Taking defensive driving courses
- Belonging to professional associations or alumni groups (check with your provider)
- Owning a fuel-efficient car
Expert advice
While aiming for a good deal, prioritize getting adequate coverage for your car and home. Don't compromise on essential protection to save a few bucks.
Re-evaluate every year:
- Insurance needs and rates can change over time. It's wise to re-shop your bundle every year to ensure you're still getting the most competitive rate.
Most importantly, don’t forget to get — and compare — quotes from multiple insurers. Use our tool and start comparing.
Compare Canada's best car insurance plans
