When you package your NY auto insurance and home insurance together, you receive a discount called the Multi-Policy discount. It varies from company to company and can be pretty significant. This applies regardless of the type of home policy, whether it is homeowners insurance, condo insurance, or renters insurance. So yes, it is a good idea to try and package your auto and home insurance with the same insurance company. In addition, you should try and bundle your auto and home with personal umbrella insurance.
In most cases, you can package your auto and home insurance together. However, there are some instances where packing your auto and home insurance is not possible.
Reasons Why You Can't Package Your Auto and Home Together
1. The company that insures your vehicles doesn't insure homes
There are very few companies that only sell insurance for your vehicles, but they do exist. Many of these companies are for specialty vehicles or classic car.
2. The company that insures your home can't insure your vehicles dues to driving claims
You have a great premium on your homeowners insurance from Company A. However, you have racked up several speeding tickets, and a few accidents in a short amount of time. With so many incidents, you would qualify for non-standard auto insurance. Company A does not offer non-standard auto insurance. Thus, you need Company B for your auto insurance.
3. The company that insures your vehicles can't insure your home due to too many claims
Similarly, you have a great premium on your auto insurance from Company A. However, Company A will not accept your house because you have 2 or 3 claims. Now enters Company B, who will accept your house with all those claims.
4. Your home doesn't meet an insurance company's underwriting requirements
You have your vehicles insured with Company A at a favorable premium. You are buying a new house, but it has a few issues that Company A won't accept. But Company B is more flexible with their underwriting requirements and will allow those issues. Why not just package it all with Company B? Because your auto premium might go way up!
5. Your home is used for commercial purposes
You operate a business from your home that requires a commercial insurance policy. The company that insures your vehicles does not offer commercial insurance. At this point, you would need to find another company that offers commercial insurance to protect your business.
6. Your vehicle is used for commercial purposes
If you use your vehicle for business operations, it must be insured on a commercial auto policy. The company that insures your home doesn't offer commercial insurance. You would need to find an insurance company to insure your vehicle.
7. You own a high-end vehicle
You don't want to insure your high-end vehicle on any regular auto insurance policy. You want a policy offered by a specialty company that is tailored to high-end vehicles, which could be different from your homeowners insurance company.
Call us today at (845) 724-3031 or request an auto insurance quote or homeowners insurance quote via our website!
For more information
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