How to Buy 2 Insurance Policies for the price of 1
The answer is: insurance. Yes, depending on the price (or premium) of your vehicle insurance policies you may be able to completely cover the cost of a renters insurance policy from the savings on your car insurance, with the multi-policy discount. In some cases the savings are so great the client not only saves enough for the second policy they got money back!
A recent new customer was amazed when we suggested she consider a renters insurance policy for not only the added protection for her personal property, but for the added saving benefit. In this case we wrote her auto insurance policy with Safeco insurance and she received an annual discount of $156 for having multiple policies; and her renters insurance cost was only $129 annually. If you do the math it works out to a net saving of $27, and she gets a $25,000 renters insurance policy included.
So, to recap the rates without and with adding the second policy:
Auto insurance in California only with no other policies: $1,200 annually
Same auto insurance: $1044 + renters insurance: $129 = $1,173 annually
Net savings $27.00
Wow, only in America can you buy more and pay less, what a great deal.
So, if you’re living on your own, sharing a home or apartment with someone and don’t have your “own” renters insurance policy, your stuff is not covered, period. Could we make this any easier…you still get money off your premium for having multi-policies. It’s a win-win. Even if you’re living with your parents and have your own auto insurance policy, have your agent review your auto policy and see if adding the renters insurance for a multi-policy discount works for you.