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What is insurance bundling?

Bundling is a way of reducing your insurance costs by opting to buy two or more insurance policies from one company. It’s one of the easiest, most fool-proof ways to get great savings on your insurance costs.

When insurance providers hold more of your business, they’re more willing to offer discounts. Auto insurance and home insurance packages are the most common bundling combination.

Bundling can generate savings of 5-20% on one of your policies, but quite often insurers apply discounts to both. Note that bundling two different types of policies (like property and auto) yields the best discounts.

Other multi-line bundling combinations include:

Tenant + Auto: Just like homeowners, renters can benefit from bundling as well when they opt to have their tenant insurance and auto insurance policies with the same provider.
Condo + Auto: It’s not just homeowners who benefit from bundling, it’s also a great savings tactic for condo dwellers who bundle their condo insurance and auto coverage.
Auto + Auto: If there’s more than one car in your household, you can save by bundling them so each is held by the same provider. However, bundling two different types of insurance (e.g., auto and home) will result in more savings.
Auto + Auto + Home: Consolidate multiple vehicles and your home coverage under one provider.
Auto + Home + Motorcycle: Combining auto, home, and motorcycle insurance under a single provider offers both convenience and potential cost savings.
Auto + Home + Boat: Bundling auto, home, and boat insurance with a single provider can result in substantial savings.
Auto + Home + Cottage: For homeowners with a secondary property, bundling auto, home, and cottage insurance with one provider simplifies handling multiple policies. It’s also a great way to access valuable discount packages.

Don’t settle for the same rate year after year — compare your auto and home bundles every renewal period to keep your savings in check. No single company offers the best deals, so shop around. Get free quotes in under three minutes by starting a form and secure your best rate today.

How comparing insurance quotes works. Hint: it’s free!

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Next, confirm that you'd like to bundle two policies and we’ll show you quotes from leading Canadian providers. It’s free, with no commitment.

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When you find the best quote, secure your rate by talking to a licensed broker or agent.

Benefits of bundling your auto and home insurance policies.

Whether you live in a home, condo or rental unit, bundling your home insurance with your auto coverage is well worth considering. The additional benefits include:

Aligning your premium payment schedules; getting one bill each month rather than two
Only having to deal with one insurance provider
Having one renewal period each year
Paying a single deductible in the event of a claim

What’s the average discount for bundled home and auto insurance?

You’ve heard ads saying that bundling home and auto insurance could lower your premiums by as much as 20%. But how is the discount applied to your insurance bill?

It varies by company. Here are the different variations:

Many insurers will take 15% off your car insurance and the remaining 5% off your home insurance.

Others might apply the full discount to your car insurance policy only.

Another combination is 20% off your auto and home insurance, respectively (although it’s become increasingly rare for insurers to offer it).

Let’s see how much you could save under scenario B. For the sake of the example, let’s say these are the quotes you receive for your annual home and auto rates:

Car insurance is quoted at $1,820.
Home insurance is quoted at $1,700.

Price before bundling = $3,520

Therefore:

New rate for auto insurance with 15% discount is $1,547
New rate for home insurance with 5% discount is $1,615

Price after bundling = $3,162

Total savings = $358

Don't be shy to ask insurers how they apply the bundling discount, or about how they can help bring your rate down using the other car insurance discounts that exist. And always compare rates from multiple companies. You might save more with another company.

Preparing to bundle home and auto insurance: a checklist

Bundling your car and home insurance is practically a guaranteed way to save.

Want to boost those savings even more? Here’s how to prepare before switching.

Step one? Get multiple quotes. Use an insurance comparison site to see your options and connect with a broker. Brokers are insurance pros who’ll help you find the best coverage at the best price.

Start now with these steps and questions to ask along the way to lock in the best bundling discount.

Evaluate your current coverage

What home and auto insurance policies do you currently have?
Are there any gaps in your existing coverage that need to be addressed?
What are the current premiums and deductibles for both policies?

Research insurance providers

Have you compared rates and packages from multiple providers?
Rate comparison sites (like ours) and insurance brokers can make this step much easier.
Which companies offer the best discounts for bundling home and auto insurance?
Are the providers you’re considering financially stable and reputable?
Have you requested quotes from multiple insurance companies to compare?
Do the quotes include a comprehensive breakdown of coverage, discounts, and premiums?

Understand bundled discounts

What percentage discount can you achieve by bundling?
Are the discounts worth it compared to keeping separate policies?
Are there specific conditions or limitations for eligibility when bundling?
Will bundling affect your coverage flexibility or claims process?

Assess additional perks

What additional benefits or perks does the provider offer for bundled packages (e.g., roadside assistance, enhanced coverage options)?
Are there any loyalty programs or premium upgrades available?

Calculate the overall value

Does bundling truly save money when factoring in coverage, deductibles, and other costs?
Do the savings align with your financial goals and insurance needs?

More ways to lower your home and auto insurance costs

Obviously, bundling multiple policies with one insurer is one of the best and easiest ways to lower your insurance. It’s definitely something to consider doing if you live in Ontario and Alberta, where the cost of personal property insurance has risen every year – and show no sign of slowing down – since pandemic rebates ended.

Here are some of the other ways you can get a discount on coverage that will work for both auto and home insurance.

Credit checks – In some provinces, your credit score can lead to discounts. Your consent for a credit check is required.

Improve security – When you take steps to mitigate theft risks to your home and car, you may be rewarded with a lower premium.

Increase your deductible – Pay a higher deductible (the amount you pay out of pocket for damages), will lead to premium reductions. However, before agreeing to do so, make sure that you’re confident you’ll have the cash on hand in the event of a claim.

Annual payment – Paying an annual lump sum up front as opposed to monthly premiums, which include administrative costs, can result in a lower premium.

Leverage memberships – Being part of a union, certain organizations, or an alumnus of certain universities can result in a lower home and auto insurance premiums.

Maintain your insurance history – The longer you’ve held an insurance policy and not made claims against it the better the chance you have of securing an insurer’s preferred rate. Making sure you don't have any lapses in coverage and making payments on time also bolster your insurance history.

File claims sparingly – Your insurance claims history is a factor that insurance providers consider when determining your premium. The fewer claims you’ve filed, the more likely you are to receive a lower premium.

Factors that affect both home and auto insurance quotes

When it comes to insuring your home and vehicle, there’s some overlaps in the factors that influence your rates. Understanding these can help you make smarter decisions and potentially save money. Here's a list of key factors.

Your insurance premiums are affected by criteria that insurers assess for both home and auto insurance. These factors help predict the likelihood and cost of potential claims.

Here are some of the key factors insurance companies take into account:

Location: Your address plays a significant role. Areas with high crime rates, severe weather risks, or heavy traffic can increase premiums. For example, if your neighbourhood is prone to flooding or car theft, you may face higher rates for both policies.
Property value: Upgraded homes or luxury vehicles cost more to insure due to higher repair or replacement expenses.
Deductible amount: A higher deductible lowers your premium but increases out-of-pocket costs for claims, so finding a balance is key.
Claims history: Frequent claims for your home or vehicle signal higher risk to insurers, likely resulting in increased premiums.
Credit score: Where permitted, insurers use credit scores to gauge risk. A higher score can lead to lower rates as it reflects financial responsibility.
Coverage limits: Opting for comprehensive car coverage and comprehensive home coverage increases premiums but provides greater financial protection.
Discounts: Bundling policies with the same provider often offers significant savings. Additional discounts for safety features, like alarms or anti-theft devices, can further reduce costs.
Age of property: Older homes may cost more to insure due to maintenance needs. On the other hand, insurance on newer cars often costs more because they're more expensive to repair or replace. Choose your car model and home improvements carefully to balance overall costs.
Your insurance provider: Rates can vary widely between providers. Shopping around can uncover better deals, and choosing reputable and financially stable companies ensures peace of mind.

What you need to know about bundling.

What is a multi-line discount?

Multi-line discount is another way of describing a bundling discount. When your insurance policies are each held by the same provider, you’re likely to receive a discount of 5-15%. It’s the largest available discount, though there are other savings tactics that can help you further reduce your overall insurance costs. It’s not just homeowners who can save by bundling their policies. Other multi-line discounts include tenant and auto, condo and auto as well as auto and auto.

How do I qualify for an auto and home insurance bundle?

If you’re eligible for auto and home insurance insurance, there’s nothing more required in order to bundle the policies. On the other hand, if it’s difficult for you to secure either policy, you may not be able to bundle. For example, high-risk drivers may only be able to get auto insurance coverage from an alternate provider who specializes in auto insurance and does not offer home insurance. Similarly, if the home you’re trying to insure is located on a known flood plain and/or is not insurable, you’re likely to have difficulty bundling auto and home insurance policies.

How can I find the cheapest home and auto insurance bundle?

Bundling triggers a savings of 5-15%, depending on the insurance provider. To secure the greatest savings, we recommend that you compare what rate a range of insurance providers are willing to give you when you bundle your policies. Our online quote tool is free. In less than three minutes it will generate quotes from dozens of the most-trusted insurance providers. You can compare each to find the best coverage at the lowest rate.

Can I bundle my tenant and auto insurance policies?

Yes, bundling is a savings tactic that’s available to homeowners, condo owners and renters. Regardless of where you live, you’ll have the option to bundle your policies. Most policyholders do so with their home and auto insurance coverage. However, if you have trouble securing either policy, you may not be able to bundle. For example, if your home is difficult to insure or you’re considered a high-risk driver, it’s unlikely that a single insurance provider will be able to write both policies. Instead, you may need a specialty provider for either policy.

How can I bundle my insurance policies on LowestRates.ca?

It’s easy: simply check a box within our free online quote tool. When getting quotes, confirm that you’d like to bundle your home and auto policies. In less than three minutes, you’ll receive multiple quotes from the best providers across the country. Each quote will reflect savings from bundling.

Alexandra Bosanac

About the Author

Alexandra Bosanac is the Core Content Manager for LowestRates.ca. Her reporting has appeared in Canadian Business, the Toronto Star, the National Post, and the CBC.