Q: I have auto and homeowners insurance. Do they need to be with the same insurance company?
A: Need to be? No. Should they be? Yes. Done. Oh wait, you want an explanation too, right? Okay, that is where it gets interesting.
There are some "gaps" in insurance coverage. For example, what if you have a very expensive car seat in your car that is also used as a stroller? If it is stolen, which policy covers it? If you have auto insurance with company A, they will tell you that it is not part of the car and not covered. If you have homeowners insurance with company B, they will tell you it is for the car and not covered. But, if you have auto insurance and homeowners insurance with company A, then it will be covered.
Granted, there are not a lot of times when this comes up, but when it does, it is important to make sure you have the most coverage available to you. Not only do you get a discount from most insurers, but you also get peace of mind in knowing that you have the maximum coverage available.