What happens if I move to a new home?

Bundle discounts can transfer to your new home policy, though coverage and rates will need to be reassessed.

When you move to a new home, many insurance companies allow you to carry over the discounts you've been enjoying with your home and auto insurance bundle. This means that the percentage you save by having policies bundled together can continue with your new home policy. However, your specific coverage needs and rates are subject to reassessment. This is because your new home might present different risks than your previous one (such as location, size, construction type, etc.), which can affect your insurance rates. It's important to update your insurer with your new address and details of the new home to ensure your coverage is appropriate and the discount still applies.

Imagine you've been living in a suburban area and had a bundle discount through a single insurance provider for both your home and car. Now, you're relocating to a city apartment. Although you've moved, you still want to keep your bundle discount because it saves you a considerable amount each year. By contacting your insurance company, you inform them about your move to the new apartment. They reassess your new living situation—the type of building, location risks, and other factors—and adjust your policy accordingly. Your discount continues, but your rate might be adjusted based on these new factors.

If you're planning to move, reach out to your insurance provider as early as possible. Inform them of your new home details so they can begin reassessing your policy coverage and rates. This proactive approach ensures that you continue to enjoy any applicable discounts without a lapse in coverage. Additionally, use this opportunity to compare insurance offerings and see if another provider can offer better terms for your new situation.