NEW YORK (CBS NEWS) – By now, you’ve probably seen the offers. And maybe even bought in. Insurance companies want to sell you auto and home insurance by “bundling” the two policies together — and in the process offer you a discount on your annual premium.

Makes sense for them, but does it save money for you? It all depends on the state you reside in and your financial circumstances, according to a new survey by insuranceQuotes. For example, in Louisiana you would save almost $600 a year by bundling auto and home insurance, while in Mississippi, where auto and home insurance costs slightly less, your savings would be $520 per year. But in Vermont, you’d save just $175 annually.

On average, bundled insurance savings would be more than 16 percent, not inconsequential when the average car insurance bill is nearing $1,000 per year, depending on what it includes, your driving record and many other factors.

InsuranceQuotes based its findings on a survey of the largest carriers, using a hypothetical 45-year-old married and employed female with a clean driving record. She had a college degree, excellent credit, no lapse in coverage and was looking for relatively standard auto insurance, such as $300,000 for bodily injury and a $500 deductible.

The applicant was positioned in three different dwellings to see if that made a difference. The first was a $140,0000 home, the second a condo and in the third scenario she was a renter (no price listed for the latter two). Not surprisingly, insurers gave her more of a discount as a homeowner than as a renter, where she received the least amount of money off.

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