Renting a car is an excellent way to have a side income. You can run a business of it. But, the rental car business is a high-risk business. The risk of an accident can make you lose big, especially if you don’t have auto and renters insurance. For those of you who rent cars, you need auto and renters insurance bundle quotes.
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Why We Need Auto and Renters Insurance Bundle Quotes?
Car insurance generally will not cover the cost of damage or loss of a car if another person or a third party drives the vehicle. Therefore, you need auto insurance and renters so that if something happens to your car, the insurance can cover these costs.
Insurance bundling, sometimes called a multipolicy discount, is a widespread way to save money on all your insurance needs. Bundling may not help you save money on your renter’s insurance. However, bundling allows you to lower the total bill on all your insurance policies.
Best Auto and Renters Insurance Bundle Quotes
Several auto and renters insurance bundle quotes could be an option for renting out vehicles. The following are the best auto and renters insurance bundles you can use.
1. GEICO
GEICO is the cheapest auto and renters insurance bundle. This company has a convenient user experience and positive customer service. GEICO’s low rates for auto insurance are combined with its coverage and discounts being consistent compared to competitors’ offerings.
This also makes it a safe choice for car insurance. GEICO provides easy-to-use online tools. The auto rate for GEICO is $83, and the renters’ monthly rate is $13. Then, the total bundle of auto and renters insurance is $91. Cheap enough compared to other insurance.
2. StateFarm
A good choice for those of you who need multiple policies for your car rental is StateFarm. The company sells various insurance products at lower-than-average prices, including auto, renters, condo, home, and life insurance.
State Farm offers plenty of auto insurance discounts and helpful customer service renters, which can make your life easier should something happen. If you are looking for insurance with reliable customer service, low rates, and a one-stop shop for all your insurance needs, you should consider State Farm.
The monthly auto rate fee is $189, and the price for monthly renters is $10. Meanwhile, the total auto and renters insurance bundle is $190.
3. Allstate
If you are looking for an insurance company, you should try Allstate. It offers many discounts and features and generally has well-regarded customer service.
Even though this company is quite famous and prominent, its rates are usually more expensive than competing companies. On top of that, it also has slightly better than average customer satisfaction and claims handling levels.
Usually, the cost of the auto rate per month is $290. Then the renter’s rate per month is $16. The full auto and renters insurance bundle quote is $299. While Allstate here is quite expensive, it does have popular features like lost deductibles, accident forgiveness, and various other discounts.
4. Liberty Mutual
Slightly cheaper than Allstate Insurance, Liberty Mutual can be an option for those who want to find auto and renters insurance bundle quotes. Liberty Mutual’s car insurance rates are more expensive than its competitors, but the company provides a variety of discounts that can help many customers lower their rates.
This insurance offers many types of insurance coverage, including bundling auto and renters insurance. Liberty Mutual’s standard of business operations is to give customers room to personalize to meet their needs.
The auto rate from Liberty Mutual is $234, while the renter’s rate per month is $15. Then the price of the auto and renters insurance bundle is $243.
5. Farmers
The highest price of auto and renters insurance bundle quotes comes to Farmers. But this insurance company provides customization options for your policy. No wonder this company gets so many positive reviews, even if it is costly.
However, of course, with this good service, you have to pay more which costs 14% higher than the average for car insurance.
Farmers’ auto insurance quotes are generally less expensive than Nationwide. But it is more costly than quotes from GEICO and State Farm. If you’re choosing between these four insurance companies, it’s best to research the quotes to ensure you get the best rate.
Pros and Cons of Auto and Renters Bundle Insurance
Undeniably bundling auto and renters insurance quotes makes you more efficient in financing your vehicle insurance coverage, especially for those who often rent cars or run a car rental business.
However, bundling auto and renters insurance also has its drawbacks. Here are the pros and cons of bundling auto and renters insurance.
Pros of Auto and Renters Bundle Insurance
Below are the pros you must know from this bundle.
1. Bundling Can Save You Money
Many insurance companies offer discounts when you combine auto and renter insurance policies. The deal depends on many factors, including your insurance company and underwriter, the amount of insurance coverage, and your country of residence.
2. Convenient Bundling
The convenience factor can also be your advantage in combining car and renter insurance because you can save time on registration and insurance claims. This convenience can provide peace of mind in high-stress situations, such as when you file a claim.
3. Your Agent Knows Your Insurance Needs
It more easily sees any gaps in coverage when your agent has access to all of your policies. It also makes them better equipped to help you get the insurance you need to be fully protected.
Cons of Auto and Renters Bundle Insurance
Meanwhile, the cons are listed below.
1. Insignificant Savings
Renters’ insurance is generally relatively inexpensive, often around $12 monthly for $30,000. Sometimes the savings in bundling auto and renters insurance don’t significantly help you save because the difference in savings is not up to $100.
2. It Can Stop You From Shopping Around
Sometimes, the savings an insurance company offers make you lazy to shop around for cheaper options. In fact, without bundling, you can find more affordable auto and renters insurance bundling quotes.
Let’s Get the Best Auto and Renters Insurance Bundle Quotes!
Bundling auto and renters insurance gives you convenience and can save you more money. But you also need to pay attention, is the offer suitable for your needs? If it doesn’t match, it’s feared that you’re paying more for nothing. Therefore, choose the auto and renters insurance that suits your needs.