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| *Loan,banking and credit>>>homeowner insurance |
What happens if I want Homeowners and Car insurance with the same company? |
Say my car insurance is with Company C and expires October 31 and my homeowners insurance is with Company H and expires January 31. I saw somewhere that if I have both insurances with the same Company then I save money. How do I line up the two insurance renewal dates so that I do not waste the money I paid for homeowners insurance between October 31 and January 31? YOU Will NOT lose the money for the Insurance -- BOTH can be put on the same policy -- and the renewal dates for the policies will be different. Having both auto and homeowners insurance with the same company does provide (usually) with the benefit of a discount on the insurance -- how much depends on many factors -- including age of driver, the vehicle(s), where your home is located, etc. Contact the company. You will indeed save money by having both with one company. Your renewal dates don't need to be the same with both policies; they can start each policy on a separate date. my experience has been that if i still have time and i cancel then i get some monies back....... Whatever date you choose to change to a new insurance provider is up to you. If you have paid premiums to your current provider that cover time periods after your switch over date, and if you properly notify them you are dropping their coverage, then you should receive a prorated refund for premiums covering future time periods. The only way to line up the effective dates is to switch one at renewal, and cancel the other policy on the same date. You would be better off switching your auto policy on the renewal date so you are not hit with a cancellation fee, which is typically 10% of any unused premium. I've never heard of any insurance company charging a short-rate fee when canceling a homeowners policy, so you'd be better off canceling on the day your auto policy renews. It typically is cheaper to keep both policies with one company, as the multi-line discount applies. However, if you have 2 policies effective on the same date, you will probably be looking at a higher down payment than if you decide to switch on the renewals. You will not lose money it will be prorated. SO do it now to start saving. Just call them if they want your business they will work with you. |
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