Can I still receive Multi-Policy Discounts if I buy my Homeowners, Condominium, or Renter’s policy from the same insurance company?
Yes. Prior to 4/1/08, many insurers offered Multi-Policy Discounts on Homeowners policies if the customer also insured their auto with that insurer, but similar credits were not applicable to auto policies. Effective 4/1/08, some insurers are now offering Multi-Policy Credits on auto policies. In fact, some insurers have increased this discount on Homeowners policies to retain their current customers who have been insured by the same company for three or more years, similar to the longevity credits for autos. The discount you can receive on additional policies purchased from the same insurance company should be calculated and considered carefully when you are comparing various automobile premium quotations. Often, Multi-Policy Discounts will be greater than any individual automobile premiums discounts you could secure from one company to the next. For this reason, you have to look at the whole picture, not just one policy.
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