One of the most apparent benefits of bundling your home, car and life insurance is that it helps you save money. It is the easiest way to save money on mandatory insurance policies by bundling them with a single insurer.
The Benefits of Bundling Insurance
Just about every insurer in the US offers the option to bundle insurance policies. The customer can combine multiple policies into a single one, sometimes referred to as a multipolicy, multiproduct discount or multiline.
Here are a couple of benefits of bundling your policies:
You save money: When you bundle policies, the insurance company will give you a multipolicy discount. The discount can be anywhere from 5% to 25% depending on the company you choose.
Easier policy management: You will experience far less hassle when it comes to juggling various policies when it is from a single company. You will work with a single point of contact and usually pay for all the insurance via a single web portal.
Security – If you have multiple policies and make a claim(s) or received tickets with the same company, there is a lower chance that the company will drop you as a client.
Choosing Auto and Home Insurance Bundles By the Insurer
Many insurers have a couple of bundling discounts, and how much you save will depend on a few factors. However, before you choose any of these discounts, you will want to ask an agent to give you a comparison rundown of these bundles compared to what other companies are offering. This approach will help you determine which insurer is offering the best deal.
Should You Bundle Auto and Home Insurance?
Insurance companies usually don’t limit what you can bundle but instead encourage it with discounts. Larger policies enjoy more significant discounts in the majority of cases. That’s why because homes are worth, on average more than cars, the discounts homeowners get are higher.
Bundling will help save you money if the home insurance is itself pretty expensive and auto insurance is on average cheaper. However, if you have tickets, accidents, or poor credit, your policy can become more expensive. So, the 20% discount you enjoy with the bundled insurance may be dwarfed by the policy becoming more expensive.
The best way to decide if you want to bundle auto and home insurance policies is to compare quotes and various policies. If you see separate policies, where the combined total ends up being cheaper than the bundled rate of a single insurer, then there is no reason for you to buy them together.
While on the whole bundling, your car, home, and life insurance will help you save money you need to do a bit of research. All insurance companies in Texas have slightly different policies, and what they offer also differs.
You will want to compare quotes for different bundled policies from leading insurers either online or via an agent. Independent insurance agents can help you get quotes from multiple companies, and their deal with those companies can also help you get a steeper discount. Also, agents that sell exclusively for a single company may offer discounts.
Contact us today to get a free quote on from multiple providers. Decide if bundling is the right choice for you.