Insurance Bundling – A Method for Saving Money on Home and Auto Insurance

Do you know about insurance bundling? Are you aware of the beneficial aspects of insurance bundling?

If not, you should get an expert to help you understand insurance bundling and how it can save you from spending thousands of dollars. Insurance bundling seems to be a simple concept; however, most policyholders don’t have the big picture in mind. Let’s elaborate each part individually.

Insurance Bundling

What is Insurance Bundling?

Insurance Bundling is a term used with insurance more and more these days. If you are a money-conscious buyer and want to make maximum use of an insurance policy, experts suggest to bundle-up different policies with one provider to reduce premium costs.

The term Insurance Bundling simply refers to buying two or more insurance policies – such as homeowner and car – through the same insurance company.  When you are bundling up two policies, you can be saving a lot of premium cost and still get excellent coverage.

Bundling has other advantages besides being affordable and money saving like:

  • You only deal with only one company for service and claims
  • You have the advantage of managing both policies at same time
  • It’s easier to identify the differences in your coverage
  • Bundling can make billing easier. You may be able to align the renewal periods and effective dates of both policies or combine your billing statements.

How much does bundling save you? 

Suppose you are interested in bundling car insurance and homeowners insurance in Rochester, NY.  Insurance companies may offer multi-policy discounts because they want to maximize their profit to get more of your business. For consumers, the benefit is that you save more money. Another advantage of bundling polices is if you’ve made a high number of auto insurance claims, having all the polices under a single plan might protect you from being dropped by your insurance company.

With insurance bundling you might be able to enjoy the convenience of getting one bill for all insurance premiums.

How to Get the biggest discounts?

  • Get insurance quotes from different carriers – Request insurance quotes from an independent insurance agent who works with more than 20 carriers. Independent agents typically provide more choices, along with useful suggestions to pick the right quote.
  • Compare the whole package – Compare different insurance packages by reviewing the premium costs, the coverage, policy duration, and any special features or deductibles.
  • Do not ignore the other aspects of the plan – Even if you are looking to grab the greatest discount, don’t forget to ask about the flexibility and process of filing an insurance claim.
  • Choose with confidence – Insurance bundling can save you a lot of money, so be sure to ask what bundling options are available.

When you have more than one insurance need, it’s smart to consider bundling from an insurance company. Even then, shop around from different companies and choose the package that best suits your needs.

About Tina Roth

Get to Know Me Better. Hi, I'm TINA! I am a financial planner, blogger, and freelance writer and digital marketing consultant. The idea of starting a finance blog has been hitting me for long; I took it seriously after falling into a spiral of finance debacles and recovering from it. Here I write about personal finance and money management tips.

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