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Don’t be fooled by the name. Auto insurance covers more than cars. In fact, home insurance for auto owners is among TBEN’s best home insurance companies for 2021.
Auto insurance offers many ways to save on your premium, with discounts for things like burglar and fire alarms and a history of paying your premiums on time. The Homeowners Plus add-on includes coverage for device leaks that lead to property damage and food waste in the event of a power failure.
Specialized coverage for high value homes and equipment breakdowns is also available.
Home insurance for auto owners at a glance
Auto owners’ home insurance received 5 out of 5 stars for its overall performance. TBEN ratings are determined by our editorial team. The home insurance rating formula takes into account coverage options and discounts, ease of filing a claim, website transparency, company financial strength, company complaint data. National Association of Insurance Commissioners, etc.
Advantages and Disadvantages of Home Insurance for Auto Owners
Auto owners’ home insurance complaints
Auto owners have had fewer than expected home insurance complaints with state regulators for its size, according to three years of data from the National Association of Insurance Commissioners. (NAIC home insurance complaints also cover other types of home policies, including insurance for mobile homes, renters, and condos.)
Availability of state home insurance for auto owners
Homeowners insurance is available in 26 states.
Home insurance coverage for car owners
The self-owned home insurance policy includes all the usual protections, as well as several coverage options that you can add to your standard policy:
- Guaranteed replacement cost in case the coverage of your home is not sufficient to repair or rebuild your home.
- Water reserve for damage caused by sewers or back-up drains.
- Special personal property helps repair or replace your personal items in situations that are not normally covered by home insurance, such as misplacement or stains.
- Ordinance or law pays when you spend more to bring your home back to current codes after a covered event.
- Owners More helps cover damage caused by device leaks and spoiled food after a power outage, among other things.
- Equipment failure in the event of an electrical or mechanical failure of devices in your home, such as HVAC units or even personal computers.
- Identity theft costs for costs up to $ 15,000 associated with restoring your identity after it has been stolen.
Home insurance rates for car owners
According to a TBEN analysis, the average home insurance rate for auto owners is $ 1,676 per year. This makes auto owners the cheapest option among the major insurers who offer policies to owners in the same states.
Here’s how auto owners’ average home insurance rates compare to the competition:
” MORE: Home Insurance Calculator: Estimate Your Costs
Home insurance discounts for car owners
Auto-Owners offers many discounts, many of which can be achieved with little or in some cases no effort depending on your insurance history. These include:
- Green discount if you opt for paperless invoicing and online payments.
- Favorable loss history if you haven’t made a lot of claims in the past.
- Payment history if you have paid the premiums on time during the past three years.
Discounts are also available for bundling your home insurance policy with certain auto owners’ insurance products, paying your entire annual premium upfront, and installing protective devices like bolt locks. sleeper and smoke detectors.
Customer experience in home insurance for automobile owners
Website: It is not possible to get a home insurance quote from the auto owners website. If you live in a state where car owners provide coverage, you will be prompted to contact one of their agents to finalize the rate. Likewise, you can only file complaints by contacting an agent. However, once the complaint is filed, you can follow it up online.
App: The Auto-Owners app is available on Android or iOS. It can be used to pay bills, track claims, and view policy documents.
Home insurance faqs for car owners
What other types of insurance do auto owners offer?
Auto-Owners offers a wide variety of insurance products, including auto insurance, tenant insurance, and term and whole life insurance, among others.
” MORE: Auto Owners Insurance Review 2021
How do I file home insurance claims for auto owners?
To file a complaint, you must contact an independent agent. Once the claim is filed, you can track it through the Auto-Owners website or mobile app.
How do I get a home insurance quote for auto owners?
The only way to get a home insurance quote with Auto-Owners is to contact one of their agents.
Home insurance rating methodology
TBEN home insurance ratings recognize businesses for their customer-centric features and practices. Ratings are based on weighted averages of scores across multiple categories including financial strength, consumer complaints, covers, discounts, online experience, and more. These ratings are a guide, but we encourage you to shop around and compare multiple insurance quotes to find the best rate for you. TBEN does not receive any compensation for reviews. Read our editorial guidelines.
Methodology of insurer complaints
TBEN reviewed complaints received by state insurance regulators and reported to the National Association of Insurance Commissioners in 2016-18. To assess how insurers stack up against each other, the NAIC calculates a complaints index each year for each subsidiary, measuring its share of total complaints relative to its size, or the share of total premiums in the industry. To assess a company’s complaint history, TBEN calculated a similar index for each insurer, weighted by each subsidiary’s market share, over the three-year period. The ratios are determined separately for auto, home (including renters and condominium) and life insurance.
Home insurance rate methodology
TBEN calculated the average rates for 40-year-old men and women from five insurance companies in each zip code in the 50 states and Washington, DC. They had a $ 1,000 deductible and the following coverage limits:
These are sample rates generated by the Quadrant Information Services. Your own rates will be different.