95% of the time the answer is yes. When you "bundle" your Ohio car insurance and home insurance together it is called the discount you get the Multi-Policy discount and it is often quite significant. This applies regardless of the type of home policy, whether it is a co-operative policy tenant policy or a regular homeowners' insurance .
We have even had situations where the discount on the car policy was enough to pay for the tenant! So yes, it is always a good idea to try to collect your car and home insurance with the same insurance company.
But what about the other 5% of the time? The following are the top six reasons why you can not collect your car and home insurance together.
1. The company that insures your vehicles does not insure home
Yes, some insurance companies only offer non-life insurance (things that move like vehicles, motorcycles, boats, campers, etc. ). They do not insure real estate.
So if this is your situation, you can not get your car and home insurance bundled together. TIP: ask if they allow "discount on homeowners." Some companies give you a discount if your home is insured with another insurance company. All you need to do is provide proof of the policy through an insurance site for home insurance, property taxes or other acceptable proof of ownership.
2. The company that insures your home can not insure your vehicles due to driving problems / claims
So let's say you've managed to collect some quick tickets and an accident or two in a few years. You usually qualify for non-standard insurance. So you have company X for your car insurance. And company Y for your homeowners insurance, because company Y does not take out non-standard insurance.
Again, many non-standard car insurance companies offer discounts to homeowners, whether they are insured with another company or through proof of ownership, such as a tax bill or real estate document.
3. The company that insures your vehicles can not insure your home due to too many claims
On the back, maybe company Y will accept your house with three claims, while Company X will not do so. So you place your home with company Y and vehicles with company X. Each insurance company has its maximum number of claims they will accept – some are more liberal than others.
4. Your home does not meet company X's insurance requirements
You have your vehicles insured with company X. You are considering buying another house, but it has some issues that Company X just won & # 39; do not accept. But Company Y is a little more flexible in its warranty and will allow these problems. So in this case, you can not package. Again, all insurance companies have their own warranty claims. Some allow more than others.
5. Your home is used for commercial purposes
Let's say you run a business from home – a business that requires a commercial policy to protect it properly (perhaps do you have a bed & breakfast or make something on site). And the company that insures your vehicles does not offer commercial policies. At that time, you would need to find another company that can insure the property due to the commercial activity. Then again, you would have Company X for vehicles and Company Y for the property.
6. Your vehicle is used for commercial purposes
Sometimes your vehicle must be insured under a commercial car insurance. And the company that insures your home does not offer commercial insurance of any kind. You need to find another company to insure the vehicle.
You can read our blog post, 7 ways to know when to buy commercial car insurance ”to learn about the most common situations where you need to buy commercial car insurance.
Need help combining your car and home insurance in Ohio? Or do you need to see if it really is the BEST option for your situation? We can help you figure it out. We take your unique situation and choose the best solution for you (we have several companies and several options). Call us today to review your insurance or request a quote via our website .