Understanding discounts for carrying several policies (auto & home/condo/renter) with one insurance company can be confusing. We’re always working to help you maximize your discount opportunities and save money.

In the past, a multi-policy discount only applied to a home-type policy. However, discounts are now available on both home and auto policies, which can mean more significant savings:

  • Auto policy discounts with a home range from 8% to 10%, and
  • Homeowners policy discounts with an auto range from 5% to 20%

Here are several ways to take advantage of these discounts. If one of these situations sounds like you, please Contact Us to discuss how we can save you money.

New Drivers – In the past, parents providing a car for a new driver often put the young driver on the car title. The title name could make a big difference with the multi-policy discount. If the parent’s name is on the title, the auto could qualify for a 5%-10% multi-policy discount (depending on the insurance company) that otherwise wouldn’t apply. A $2,000 auto policy could mean a $200 savings. While there are some possible liability concerns to consider, it’s something to think about as a way of saving money. If you’re buying a car for a new driver, talk with us in advance to consider all options.

Condo Owners & RentersCondo owners sometimes rely on the Association’s “master policy” to protect their dwellings but don’t get their policy to protect their possessions. The same is true of renters who don’t get a tenant policy. What’s often overlooked is that these policies cover more than what you own; they also cover your liability if someone should be injured at your home. With multi-policy discounts, the savings on auto and condo/tenant policies often let you get better protection for just a little more.

Married Couples & Partners – When couples marry or move in together, they often have insurance with different agents. Consolidating your policies with one company can provide significant savings. Simply having two autos on the same policy can save you money. And, if you add a home, condo, or renter policy, you could save even more. Marriage often prompts a reconsideration of insurance; however, couples who live together and don’t marry should realize the savings opportunities available if they consider insurance purchases together.

Because situations are constantly evolving, it’s a good idea to review your coverage annually to ensure that everything is up to date and that you benefit from all possible discounts.

Read Other Blog Posts

Apartment living room

Keep Your Home Safe While on Vacation

Taking a trip and exploring the world is fun, but leaving your home unoccupied has some risks.  Before departing, protect your property from accidents and criminals by considering the following precautions.
Male teen driver

5 Tips for Adding a Teen to Your Auto Policy

If your teen is approaching driving age, it may be time to start thinking about your plan for adding them to your auto insurance policy. Here are five tips to consider when adding a teen to your auto insurance policy.
Night driving

Understanding the Risks of Speeding

According to NHTSA data, speeding kills more than 12,000 people behind the wheel each year, contributing to nearly one-third (29%) of all traffic fatalities. With this in mind, it’s important to understand what causes speeding and how to prevent it.
Mold

Keeping Mold Out of Your Home

Mold not only damages your property, but it can also cause serious health complications after long-term exposure. With this in mind, try these prevention tips to keep mold out of your home.
Burglary

Tips for Preventing Home Burglaries

As a homeowner, you must protect your property from various risks, such as burglaries. To limit your chances of becoming the victim of a home burglary, consider the following steps for daily life.
Ensuring Peace of Mind: The Importance of Wedding Insurance

Ensuring Peace of Mind: The Importance of Wedding Insurance

Protect your big day with wedding insurance coverage. Whether safeguarding your attire, ensuring vendor reliability, or providing peace of mind against unexpected mishaps, we've got you covered so you can focus on making memories that last a lifetime.
Spring Cleaning for your Insurance

Spring Cleaning for your Insurance

As you tackle spring cleaning tasks, consider reviewing your insurance policies for any necessary updates. Ensuring your coverage is current and aligned with your needs offers peace of mind as you welcome the warmer seasons ahead.
Mistakes to Avoid when Applying for Auto Insurance

Mistakes to Avoid when Applying for Auto Insurance

Overlooking errors on your auto insurance application can result in significant consequences. Providing inaccurate information may lead to higher premiums, policy cancellations, or inadequate coverage during accidents.

Visit Our Personal Insurance Page

Personal Insurance

Life is an ever-changing journey, and it deserves a thoughtful, comprehensive plan to protect the things and people that matter most. Our dedicated team at Murphy Insurance is here to assist you in creating that plan. With a wide range of product options at our disposal, we ensure that your plan is tailored precisely to your requirements. Our commitment to providing clear, intelligent guidance to help you achieve true peace of mind. Learn more about our personal insurance portfolio.