Some things in life are too fundamental not to insure; car insurance and homeowner insurance are two perfect examples. Both vehicles and homes are the core of a comfortable modern life, so it’s essential to have an insurance policy that protects them. Because it’s so important, that protection doesn’t always come cheap.
But no worries, there are ways to be safe without the need to splurge. If you’re on the hunt for auto and homeowners insurance, purchasing your plans from the same company is the best way to save money on your premiums. This is called “bundling” and it refers to: buying two or more policies from the same insurance company or agent which often comes with a discount.
The most common combination of bundle is auto and homeowners insurance. A study by Insurance Quotes, shows that the average consumer saves 16.1% on their premiums when bundling these two products.
Advantages of bundling
There are many advantages of bundling but the most obvious one is savings.
According to survey done by trustedchoice.com, bundled policies can usually have 10 to 15 percent in discounts. Not too bad for two policies you were going to have to purchase anyway.Bundling also save you time by eliminating the hassle of dealing with multiple insurers.
This practice reduces the time spent shopping and dealing with multiple insurance companies.By doing everything through one company, you’ll have less things to worry about, you will only get one bill, you won’t have to remember two online logins and if you were to have a question you only need to ask one agent. Having your insurance in one place makes things easier and convenient.
Your time is valuable. And dealing with only one insurer instead of two or more save you lots of it.
Bundling is also helpful when it comes to claims. Let’s say you are in the tragic situation where your car is vandalized and personal property is stolen from inside of it (look on the bright side, you are safe). Suddenly, you are in the situation where you have to make two separate claims with two separate companies. You would have to make twice the phone calls and wait for responses from two different representatives. When you bundle, this stress is reduced. You would only need to speak with one company as they help you to recover from a covered loss.
Another advantage of bundling is that your insurance agent will have more knowledge about your insurance needs and will be able to advise you accordingly.Unless you have your insurance bundled through the same agency, your insurance company cannot see your other policies.
By having your policies with the same agent, they’ll be able to look for savings and help make sure that you are properly insured and less exposed to liabilities.If you are not convinced by all this perks, have a last important benefit: “bundlers” are less likely to be dropped by their insurer.
How to bundle your auto and homeowners insurance policies
The option to bundle your auto and homeowners insurance policies is usually available at the beginning of your insurance application process. A good insurer will typically ask you if you’d like to insure any other type of property.
But it’s never too late to bundle up. If you already have an auto or homeowners insurance with a different company but want to change to just one company to create a bundle, it’s also possible. Just be sure that before you make the switch, you’re following the proper procedure to ensure that you won’t have to pay high cancellation fees or have time-lapses in coverage.
Things to consider when bundling insurance policies
Before deciding to purchase your insurance policies from one insurance company, make sure to look around. By doing so, you will be able to find out which companies offer bigger bundle discounts or which ones offer the best deal that you were to need. Knowing the market will make you more confident on the final decision you are to make.
Good customer service is essential, so while searching try and contact insurance agents, see how they talk to you and if they help you answering all your questions. Insurance is a long time service, so you need to have a good experience and be treated correctly by an agency. At the end of the day the goal of bundling is to safe money but it’s essential you are safe and also feel comfortable.
If you need more than one insurance policy, there are many benefits and advantages to bundling your insurance. With the help of a qualified insurance agent, you are able to find a bundle that works for you in which you can save up on two bundled policies. Next time you’re choosing an insurance company, don’t just ask for a quote on one of their products. Get a quote on all of the policies you may need at once, to make sure you’re getting the best possible rates. Overall, bundling creates an easier way to manage budget, as you will only have one renewal date and just one bill to pay.
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Choosing an Independent Agent
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