We constantly hear television and radio commercials telling us that our cable, internet, and cell phones accounts can be bundled for the absolute best deals. The same is true in the insurance marketplace. The more policies you buy from the same provider, the more you can save.
You can Save a Bundle when you Bundle
Bundling insurance packages – like when you combine a home owners and auto policy – could save you between 20-40% off premiums combined on both policies. Having more than one policy in the same household or family could be a money saving advantage. So, let’s explore using the same company to manage multiple lines of coverage.
Beyond financial savings, bundling your insurance gives you the convenience of dealing with just one company. Access your policies with a single log-in. Simplify your monthly premium payments. Consolidate the agents you deal with so you can be confident they know your situation inside and out.
Insurance Bundling Basics
You will save money and time by bundling your insurance policies. Shopping with individual carriers for individual policies is prudent but takes time. Instead, spend that time working with your local insurance agent. They can take the time to understand the dynamics of your life and what policies can work best for you. They’ll find a multi-policy plan that offers the best discounts and bundle them.
Keep in mind when bundling insurance policies that even if you bundle policies together, they are still separate policies. These policies operate independently to provide the coverage outlined in the policy. Your agent can work with you to help understand the basics of bundling and find the right combination of plans to get you the ultimate savings.
Popular Insurance Bundles
- Home and auto
Savings will vary, but by combining the most common insurance packages you can expect to cut costs up to 25% when you bundle home and auto policies.
- Renter’s and auto
You don’t lose out on savings just because you don’t own a home. You could qualify for savings when you carry both renter’s insurance and car insurance.
- Renter’s and motorcycle
Get creative – most any vehicle will apply. Bundle renter’s insurance with protection for your motorcycle, boat, RV, or off-road vehicle to help reduce your coverage costs.
The end result is multi-line insurance plans can be more affordable than a la carte offerings and most insurance companies will offer multi-policy discounts. If you or your family are carrying several insurance policies it may make sense to get all your coverage under one roof.
Just remember, if you currently have separate policies and are looking to combine them – be sure to check that the plans you are exploring are comparable. Often, a bundle may seem like it is saving you money, but a piece of coverage may be missing giving you an inaccurate comparison. This is why, as with any policy, it as a best practice to work directly with an agent so you can be confident a particular bundle is right for you.
If you are looking for more details about the potential savings when you bundle your insurance packages, contact our office: