Our clients are often curious about bundling insurance and why it might be the right choice for them. Before you can decide if bundling your insurance policies is a good way to go, here are four important points to consider.
What is Insurance Bundling?
When you hear about bundling and insurance, it refers to someone choosing the same provider for multiple insurance policies, including home, auto, life, and renters, or other types of coverage.
What is the Purpose of Bundling Insurance?
Many insurance companies provide discounts for their clients who bundle their insurance. These discounts often range from between 3 and 15%.
Some companies offer different discounts for different bundling options. For example, one company might offer a 5% discount for bundling home and auto insurance, but a 10% discount for bundling life and auto insurance. While these numbers may not seem huge, they can add up to big savings before you know it!
The Convenience of Bundling
In addition to saving you money, bundling your insurance can also save you time and add convenience to your life! If you only have to deal with one company, you can often deal with the same person for all of your insurance needs, and they’ll be familiar with you and your policies. You can also automate your payments to come out all together if you’d like, and you don’t have to watch for multiple withdrawals from different insurance companies.
Is Bundling Right For Me?
If bundling your insurance saves you money but still gives you the coverage you require, there aren’t any downsides to doing so. If you can get better rates and more coverage for different types of insurance with different companies, it might be worth using separate insurance companies, even if it’s less convenient.
Like most insurance policies, the best choice is different for everyone when it comes to bundling, but knowing your options is the best way to make the right decision for you!