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The Murphy Insurance Blog


News, updates and useful tips about insurance products and the insurance industry. We also provide insights on community events, local news and information that affect your everyday life. Enjoy!

Discounts for having auto & home/condo/renter policies with the same company can be confusing. We're always working to help you maximize your discount opportunities and save money. In the past, a multi-policy discount only applied on a home-type policy. Discounts are available on both home and auto policies, which can mean greater savings:

  • auto policy discounts with a home range from 8%  to 10%
  • home policy discounts with an auto range from 5% to 20%
Here are several ways to take advantage of these discounts. If one of these situations sounds like you, call us to talk about it.

DiscountsNew Drivers – In the past, parents providing a car for a new driver often put the young driver on the car title. Now, the title name could make a big difference with the multi-policy discount. If the parent’s name is on the title, the auto could qualify for a 5%-10% multi-policy discount (depending on the insurance company) that otherwise wouldn’t apply. On a $2,000 auto policy, this could mean a $200 savings. While there are some possible liability concerns to consider, it’s something to think about as a way of saving money. If you’re buying a car for a new driver, talk with us in advance to consider all options.

Condo Owners & Renters – Condo owners sometimes rely on the Association “master policy” to protect their dwelling and don’t get their own policy to protect their possessions. The same is true of renters who don’t get a tenant policy. What’s often overlooked is that these policies cover more than what you own, they also cover your personal liability if someone should be injured at your home. With multi-policy discounts, the savings on auto and condo/tenant policies often let you get better protection for just a little more.  

Married Couples & Partners – When couples marry or move in together, they often have their insurance with different agents. Consolidating your policies with one company can provide significant savings. Simply having two autos on the same policy can save you money. And, if you add a home, condo or renter policy, you could save even more. Marriage often prompts a reconsideration of insurance; however, couples, who live together and don't marry, might not realize the savings opportunities available if they consider insurance purchases together.

Because situations are always evolving, it's a good idea to review your coverage on an annual basis to ensure that everything is up to date and that your benefiting from all possible discounts.


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