There is no doubt that some things are just meant to be together. They are better together. The same is true when you bundle home and auto insurance.
Bundling home and auto insurance policies with one insurance company provides numerous benefits. Not only are there money-saving opportunities on your insurance premium, but it also makes your insurance more straightforward and ultimately provides additional coverage that keeps you, your home and your vehicle safe.
An Ontario home and car insurance bundle is when you purchase your home insurance and auto insurance with the same insurance carrier, and you receive exclusive savings. It could cost you more if you purchase individual policies, especially if you buy these policies from two different companies.
When you purchase a bundled home and auto insurance policy covering your home and vehicle, your insurance company can give you a multiple-policy discount. This discount is referred to as “bundling.” Home and auto are a standard set of insurance policies to combine, but you can also receive bundle discounts on a wide range of insurance products. Usually, the more you bundle, the better coverage you’ll receive from that company.
There are a few reasons why you should bundle home and auto insurance. With bundled insurance, you can benefit from additional savings, the convenience of having your home and auto policy in the same place, possibly only having a single deductible, the option to add extra liability coverage, and so much more. In Ontario, if you drive a car, you’re required by law to have insurance. Likewise, if you pay a mortgage, lenders typically require you to have home insurance. Besides, why wouldn’t you want to protect your most significant assets with a comprehensive insurance policy? Let an insurance broker provide multiple home and car insurance quotes to get you the best coverage at an exclusive insurance rate.
Insurance is necessary to protect what you care about, but it would be nice to save on your insurance costs. Bundle home and auto insurance policies to take advantage of a multi-product discount.
Although cost savings are a benefit of bundling insurance, convenience is also an advantage. If you need to update your policy, like changing your address or adding a new driver, dealing with one insurance provider will save you time and help make your life more stress-free.
Another potential advantage of bundling home and auto insurance in Ontario is that you may only need to pay a single deductible if you ever make a claim involving your home and vehicle simultaneously. For example, suppose a significant storm sweeps through Ontario or your home is flooded, damaging your property and vehicle. In that case, you may only have to meet one deductible before it pays out. However, it’s important to note that this isn’t always the case when you bundle home and auto insurance, and you may have two deductibles depending on how your policy is written. If you’re unsure how deductibles are structured on your policy, contact your Morison Insurance broker to learn more.
Lastly, adding extra liability coverage is one of the most significant benefits of bundling home and auto insurance. Sometimes standard coverage limits aren’t enough to cover all the expenses that can arise from a liability claim, and that could leave you without the total compensation necessary to avoid paying out of pocket for any amounts that exceed your coverage limits. Consider adding excess liability coverage or umbrella insurance when you have an Ontario home and car insurance bundle.
Most companies will allow you to purchase an umbrella policy if you combine car and home insurance with them. An umbrella insurance policy provides additional liability coverage beyond the limits that are included in your existing home and auto insurance policies. Your broker will ensure that you are adequately protected and have the right amount of liability coverage when providing you with bundled home and car insurance quotes.
Some additional insurance coverage options that you can add to your home and auto insurance bundle include loss of use protection, accident forgiveness protection, water damage protection, and identity theft protection.
Our insurance experts offer unique policy packages for home and car insurance bundles. You can tailor your policy to include additional optional coverage types to protect your home and vehicle properly. Our brokers will ensure you have the best coverage when you combine car and home insurance.
Home equipment breakdown coverage applies specifically to components of your home that are not strictly part of the building but also aren’t exactly the content of the building, such as your personal possessions. That can include your HVAC system, heated floors, appliances, a pool filter system and other similar equipment. Should any of your home’s equipment breakdown due to an insured peril, your insurance company would provide compensation to take care of repairs or replacements so you can get the property functioning normally again for the comfort and safety of your household.
Regarding your auto insurance, this type of protection will provide you with the coverage you need to obtain a rental car if your vehicle is being repaired after an accident. Loss-of-use coverage will ensure you get a rental car, whether the accident was caused by you or someone else. This insurance endorsement on your home and car insurance bundle would help minimize issues in the event of a collision. You can still get from point A to point B, just as you would on any other day.
This type of coverage is very easy to add to your automobile insurance policy. It’s also very affordable. In your annual premium, you would pay about the price of renting a car for one day to add loss-of-use protection. In our experience (and we’re sure yours), repairs can take longer than one day.
Did you know that one at-fault accident could cause your insurance rates to increase by hundreds of dollars? We will strive to find you a policy that understands accidents can happen to anyone, even the most experienced driver. A policy with accident forgiveness protection will prevent your automobile premiums from increasing in the event of your first at-fault accident. It would be like the first accident never happened, and the driving record on your existing policy would not be affected. Accident forgiveness protection is worth the peace of mind of knowing that your car premiums will remain where they are.
Did you know that more than 70% of damages to the home are caused by water? Every day homes across Ontario suffer water damage, and the risk of it happening at your home is no exception. With the recent changes in weather patterns and climate, severe weather events are becoming more frequent and causing more damage. Extreme storms that used to happen every 40 or 50 years in Canada now occur in some areas or regions every 5 or 6 years. Changing weather patterns force the insurance industry to adjust policies to address these new risks. This is especially true regarding coverage for water damage to your home. Consider adding water damage protection to your car and home insurance bundle policy.
Personal identity theft is one of the fastest-growing crimes in Canada. More than 35,000 Canadians are victims of identity theft every year. If you make purchases or payments online, you could be at risk. It takes a criminal a shockingly short amount of time to steal your identity. Personal identity theft coverage is affordable, with an average monthly premium being under $5 a month. This coverage can be added to your current property policy by endorsement. It protects you from the cost of repairing your financial history or resolving problems resulting from identity theft, including legal representation, loss of wages, loan re-application fees and replacement of stolen identification. Identity theft protection covers you and others living in your home, making it a smart addition to your Ontario home and car insurance bundle.
We all know that you must have auto insurance coverage to drive a vehicle in Canada legally—but that doesn’t stop some people from getting on the road. At the same time, they’re seriously underinsured or not insured at all. Those coverage gaps can affect you, even though you have no control over what other drivers choose to do. Suppose you’re involved in an accident where an underinsured or uninsured driver is at fault. In that case, it’s unlikely you’ll be able to receive the compensation you’re entitled to for expenses like the repair or replacement of your vehicle or loss of income while you recover from injury. With uninsured motorist coverage added to your home and auto insurance bundle, you can get the compensation you need and deserve from your insurer and have the peace of mind that comes with knowing you won’t suffer severe financial setbacks due to someone else’s bad decisions.
Yes. Adding additional coverage will typically increase the cost of your policy. However, the overall premium might still be lower than if you had separate insurance policies. A home and auto insurance broker will be able to review quotes from various Canadian insurance companies to find you the best coverage at the right price.
Home and auto insurance is the most common type of bundle. However, they are not the only type of policies you can bundle. There are many types of insurance bundles available to you!
Depending on the insurance company, you can also bundle recreational vehicles such as an ATV, RV, snowmobile, travel trailer or even your boat insurance. Motorcycle insurance can be bundled with homeowners’ and auto insurance coverage. Still, it’s important to note that you must have an auto insurance policy in place to get motorcycle insurance. This way, you can receive a discount on motorcycle insurance. Classic car insurance can also be added to an Ontario home and car insurance package.
If you’re a renter, you should also talk to one of our friendly brokers to see if you could bundle your renter’s insurance with your automobile insurance. Condo insurance can be bundled together with your auto insurance policy. And, if you have seasonal properties or a second home, secondary home insurance or cottage insurance can also be included in your Ontario home and car insurance bundle. The more you bundle, the better coverage you may receive. Our expert brokers happily provide multiple bundle insurance quotes from leading Ontario insurers.
Anyone with a property and an automobile would benefit from a home and auto insurance bundle. Not only can you save, but insurance bundling can simplify your policy by having everything in one place. In short, you save time. With more time on your hands, you can focus on doing more of what makes you happy instead of the stress of dealing with multiple insurance companies. Consider contacting a broker to get free, no-obligation bundled home and auto insurance quotes to see if you can benefit from combined savings.
A home and auto insurance broker can help you determine if bundling insurance is right for you. They will compare the savings opportunities and coverage options of a bundled policy versus separate insurance policies. The best time to compare bundled home and auto insurance quotes is at the time of your renewal.
Yes, your home and auto insurance policies must be with the same insurer to receive a bundled discount. Your home and car insurance broker will compare quotes from leading Canadian insurance companies to determine which insurer has the best policy for your needs.
Yes! The home and auto insurance brokers at Morison Insurance would be happy to switch your current policies to bundle with one insurance company. However, it is important to note that if you are in the middle of your current policy term, a cancellation fee might be required. Your broker will determine the savings calculation to see if it is worth it to switch now or at your renewal.
The annual savings of bundling home and auto insurance will vary from insurer to insurer. A few factors go into consideration while determining costs, such as policy limits, types of coverages, add-ons and your claims history.
Save on home and car insurance by speaking with an insurance broker. They will provide you with bundled home and auto insurance quotes to help you find the best coverage possible, tailored to your needs.
If you have a claim open for your home and a separate claim opened for your car simultaneously, but you bundle home and auto insurance, you may only have to pay a single deductible when claiming for both your home and auto. However, that’s only true with some bundled home and car insurance policies. Whether you have one or multiple deductibles depends on the insurance company you’re with and how your specific insurance package was written. Speak to your insurance broker at Morison Insurance to learn more about how your particular bundle is structured so you know exactly what to expect when filing home and car insurance claims.
Suppose two companies currently insure you for your home and auto coverage but receive a fair price and excellent coverage. In that case, you might need more than bundled insurance. For instance, if you want to switch your car over to the same insurance company as your home but, in doing so, would be losing certain extra coverages you’re currently benefiting from, consider keeping separate insurance policies.
Our Morison Insurance broker will get you a home and auto insurance bundle quote and will help you weigh your options and determine whether insurance bundling will improve your coverage or if it’s a better choice to stay with the level of coverage you’re currently receiving.
You can compare bundled insurance quotes at any time. However, analyzing quotes each year when your policy renews is important. At this time, consider the different options available when changing your coverage on your current policies. When they work with our broker experts at Morison Insurance to find the best bundled home and auto insurance quotes, Ontario policyholders can rest assured they are getting comprehensive coverage at the right price.
We have over 20 insurance partners, and our team is highly skilled at getting these companies to compete for your business. This leads to a competitive insurance price and ensures you get the best coverage for your needs. Our brokers take pride in going above and beyond to help each of our clients throughout Ontario. We take the time to understand your unique requirements, answer any questions you may have, review your current policies to compare coverages and be there for you whenever you call. We make getting Ontario home and car insurance bundles easy.
You can get a home and auto insurance quote from Morison Insurance. We will ensure you receive a bundled policy that offers the best insurance protection at competitive prices. We strive to provide exceptional customer service and outstanding insurance coverages. Get your personalized bundled home and car insurance quote by contacting us at 1-800-463-8074 or filling out the contact form on our website. Morison Insurance has you covered!
