"How Valuable Are Multi-Policy Discounts?"
The truth of the matter is that multi-policy discounts are very valuable. Essentially, an insurance company will provide a discount to you if they have written both your homeowner’s insurance and your auto insurance. The policies remain separate, but the discount is applied to both. . The example below illustrates annual premiums with and without a multi-policy discount for deductible limits of $500, $1,000 & $2,500. The annual premiums are shown for each scenario along with the annual savings attributed to the multi policy discount:
Stand Alone vs Multi Policy
The annual savings are substantial. Remember, this illustration reflects the multi-policy discount on the Auto policy only. You will receive a similar discount on your homeowner’s policy as well. Again,the savings are very substantial and should not be overlooked.