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The short answer is “yes.” Bundling is one of the best ways to save money on your insurance. Our team at Insured for Life can help you get the best deal on the coverage you need.
Why Bundle Home and Auto
When you purchase more than one type of insurance policy from the same insurance company, you often get a discount on your premium rates. That practice is called bundling, and it’s a popular saving method.
Bundling home and auto can help you get a multipolicy discount, which can be as high as 25% savings on your premiums.
When you work with one insurance company for both your home and auto policies, you get the convenience of not having to manage multiple policies with different companies. This can help simplify the claims process and customer service.
Having more than one policy with the same insurer helps to reduce the chance of losing your coverage over a single claim.
How to Bundle Better
The downside of bundling is that it can discourage price shopping. You might be missing out on better rates from competitors while you have bundled policies, and in that time, your rates could increase.
You may also find that your coverage is more expensive for one type of policy or the other based on past claims. If you have an accident history or have traffic violations, you can expect your rates to be higher. Your credit history can also affect your rates. Even if you bundle, the costs could end up higher when you purchase home and auto from the same company instead of finding the most affordable option for home and auto separately.
To find the best-bundled price, compare the bundle discounts and pricing from several insurance companies.
Sometimes you may purchase both home and auto from one insurance company but find that the insurer uses a third-party insurance company for one of the policies. In that case, you still end up working with that third party instead of having the convenience of dealing with only one insurance provider. Ask the insurer you plan on bundling with if they use a third-party insurance company.
Ideally, you compare auto and home insurance rates in your area each year. Get quotes for both bundled and separate policies to ensure you get the best rate.
Finding the Right Auto and Home Policies
Auto insurance is required, and home insurance is crucial. When you are in the market for an insurance policy, you should compare the coverage and pricing between competitors with a reputation for quality customer service and claims assistance. Our team at Insured for Life can help you find the policy that matches your coverage needs for the best price available. Contact us today to meet with a licensed agent.
