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Ask the Home Insurance Expert

My home and auto insurance policies are from the same company. Can the company cancel my homeowners insurance if I insure a second vehicle with a different company?

I don't see how it could. 

If you still have your original bundled auto and home insurance policies in place, then it shouldn't matter to your insurer if you can take out a separate policy on another vehicle.  However, you should tell the insurer about the second car and that it's being insured with another insurance provider.  Insurance companies like be informed of all the vehicles you have in your household.

It would be wise to check the cost of insuring a second car with your current insurer before obtaining a separate policy for it. Unless the second vehicle needs specialty insurance, because it is an older collectible car or a supercar, likely it will be cheaper to insure both vehicles under the same policy.

With your home and auto insurance with the same insurance company, you should be receiving a multi-policy discount.  If you insure two or more vehicles with the same insurer you may receive a multivehicle discount, which could be up to 25 percent.

When making any changes to your household, such as buying an additional car, it’s a good time to check out rates for home and auto if you’ve bundled your coverages.  Check out our rankings of best home insurance companies before comparing quotes.

Last updated: May. 21, 2014
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