Purchasing auto and homeowner's insurance from the same company leads to an average savings of$270per year, according to a new insuranceQuotes.com report. That's a 15% discount.The states with the highest average savings areLouisiana($505),Oklahoma($468),Texas($435),Mississippi($422)andMissouri($366).The lowest areHawaii($116),Florida($147),North Carolina($166),Vermont($176)andIdaho($190). However, Vermont has combined rates ($1,382) that are 22 percent below the national average ($1,775) and ninth lowest overall. Florida, despite seeing lower savings, had the highest overall combined rates ($3.024).
Click here to view the results for all 50 states andWashington, D.C.:http://www.insurancequotes.com/home/bundling-insurance
"Consolidating your insurance policies with a single company is one of the easiest ways to save money," saidLaura Adams, senior analyst, insuranceQuotes.com. She added, "The differences between states can be attributed to competitive and regulatory factors."
The average savings for combining car and condo insurance is 11%, and consumers who bundle car and renter's insurance receive an average discount of 8%.
Source: SAN FRANCISCO,June 4, 2014/PRNewswire/ -- InsuranceQuotes.com and Quadrant Information Services calculated the averageeconomic impact of purchasing auto insurance with either home, condo or renters insuranceusing data from the largest carriers (representing 60-70% of market share) in each U.S. state and theDistrict of Columbia.