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Should you bundle your insurance?

By September 23, 2020Insurance

If you’re on the hunt for auto and homeowners insurance, purchasing your plans from the same company can be an easy and convenient way to save money on your premiums.

Here’s how “bundling” insurance policies works, plus how to decide if it’s the right move for you.

All of your insurance policies are designed to protect your finances, but did you know that keeping all of your coverage with the same provider can give you a discount?

If you’ve ever shopped around for insurance, you’ve likely been asked if you want to bundle your policies—in other words, combine your home, renters or auto and insurance policies with the same carrier. Although you have the option to shop around individually for each policy, it almost always makes sense to have the same carrier cover as many of your policies as possible.

Benefits of Bundling

  • Save money on premiums. The biggest benefit, as noted above, is the fact you could save up to around 25% when you purchase multiple policies from a single company.
  • Streamline your bills. With just one insurer for multiple policies, it’ll be easier to keep track of your accounts (and you’ll have one fewer password to remember!).
  • Pay a single deductible. If an incident, like a major storm, damages both your home and vehicle, some insurers will only make you meet one deductible before it pays out. If your insurance weren’t bundled, you’d need to pay two deductibles to two different companies.
  • Reduce your chances of getting dropped. Some experts claim that having multiple policies with a single insurer makes it less likely that the company will cancel your coverage (which could happen if you, say, live in a wildfire zone or make a series of car repair claims).

A Few things to Consider

Almost everyone has home or renters, auto and life insurance, and combining these policies together can give you a substantial discount. In fact, almost any type of personal insurance policy can be bundled to save on premiums and streamline the claims process.

Ask insurance providers to provide the prices for both individual and bundled premiums to see how much you’ll save.

Contact Bickle Insurance Services before your renewal date to make sure you are getting the best balance between your insurance rate and the coverage you need.

Call us at 740-593-7311 for help comparing multiple providers and other coverage options.

 

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