Having an insurance policy is a great way to protect yourself from the financial crisis that may arise from a peril. However, a certain percentage of Americans see insurance cost as bothersome.
This is because they do not know how to save money on insurance. One way to do that is by bundling policies. Policyholders can purchase more than one policy from the same insurer and bundle it at a discounted price.
This post contains ways to bundle homeowners and auto insurance to save money. Read on to find out more!
What Is Insurance Bundling?
Bundling in insurance means buying your insurance coverage from the same insurer. For car and home insurance bundling, it means buying both insurance policies from one insurance company. You can bundle other insurance policies, too, like life insurance and business insurance.
Insurance bundling is a win-win situation for both the company and the policyholder. The company retains its customers while their customers enjoy discounts.
Why Bundle Auto and Homeowners Insurance?
To Widen Your Savings
Bundling your car and home insurance most times earns you insurance discounts. Some insurers give up to 25% discounts. You can get more or less, depending on your insurer and zip code. 25% off your insurance cost and into your savings is a step towards widening it.
Easy Policy Management
Another reason why you should bundle your auto and homeowners insurance is to simplify policy management. It is easy to manage your insurance policies if you buy them from the same company. But buying them from different companies might be difficult to manage. You also have to deal with different agents from different companies.
To Have a Form Of Insurance Security
Most of the time, homeowners insurance tends to be cheaper than car insurance and vice versa. In such cases, purchasing either of the policies from the same company may help lower the cost of the other. Also, if you’ve made a claim or gotten a ticket – which may affect your insurance cost – the other bundled policy will keep you on your insurer’s good grace.
How to Bundle Auto And Homeowners Insurance?
Determine the Coverage You Want
Car insurance and home insurance both have different coverage. For car insurance, is it collision, liability, comprehensive, or underinsured/uninsured motorist coverage? For home insurance, do you want the five basic coverage or additional ones? Be sure that the insurer will give you the kind of coverage you need.
Compare Quotes/Bundles from Different Companies
Several companies offer different kinds of coverage you want in their bundles. Get a list of these companies and get quotes from them. You can either do that online from their website or speak with their agent. Either way, your query is responded to. Compare their quotes and bundle to know which one suits you the best.
Check for Affiliate Companies
After picking out the company with the best quotes, check for third-party insurance agents/companies. Rule out companies affiliated with other companies. When you bundle with such companies, you lose the convenience of dealing with just one insurer, regardless of the discounts attached.
At Massive Insurance Financial Services, we conveniently bundle auto and homeowners insurance to suit our customers’ needs. Our agents are available to answer your queries. Contact us to get a quote today!