Bundling Insurance is a term you’ve probably heard about or are even doing with your different policies. While generally knowing that favorable aspects to bundling insurance, you might not realize how good the premium discounts can be or the different types of insurance bundling possible.
Chances are you feel your insurance premiums are high. There are plenty of reasons for the premium costs of insurance and if you don’t understand the details, it’s always recommended to go to your agent for an explanation or review. Agencies, such as Beck Insurance, have a long list of quality carriers they work with to find the insurance that fits you. If you already have the most competitive rates for your needs, bundling might be the next step.
Bundling generally is combining different policies with the same carrier for a discount of anywhere from 5-30%. As always, your discount will depend on the type of insurance, risk, amount of coverage, rating and more. Nothing can be guaranteed but when you are talking about combining home and auto, 5% could put some significant money back into your wallet.
Here are some of the benefits to bundling besides the savings:
- One company to file claims with. Chances are you will have to file a claim at one point or another. If you ever have to file more than one claim at a time, or a claim on two policies (say a tree falls and hits both your car and house), the process could be less stressing.
- Less chances of being dropped. Again, not guaranteed and dependent on many factors. But, if you have too many claims on one of your policies, either the car or the house, your insurer is less likely to drop you if you are client in two division.
- A stronger relationship with your agent. As your agent gets to know more about your needs, assets and life, they’ll start to learn what types of protection you need and where the opportunities are to save.
Bundling auto insurance and home insurance is probably the most popular bundle but many other types can bundle more leading to higher savings. Renters can bundle with their car insurance. And while renters may feel they don’t need or can afford renter’s insurance, bundling can make renter’s insurance obtainable to protect assets such as furniture, clothes, personal possessions and more. Other policies to include, life insurance, boats, RV’s, motorcycles, liability coverage and possibly umbrella coverage.
Contact Beck Insurance to find out more about the bundling opportunities for your insurance coverage.