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3 Benefits of Bundling Your Insurance

Posted in Personal Insurance Tips, Auto Insurance, Home & Property Insurance

3 Benefits of Bundling Your Insurance

You’ve heard it many times before: 'bundle your home and car insurance'. But, what does that really mean? Read on to find out what it is and how it will help save you money.

Insurance products are better together!

What is 'bundling'?

Bundling means that you are purchasing multiple insurance policies from the same insurance company. For example, if you purchase an insurance policy for your home, car and boat from one insurance company, instead of mixing your various policies between providers, you would be bundling your policies.

By bundling your insurance through a single insurance company, you receive a range of benefits otherwise not available to you. The insurance company wants your business and rewards you for purchasing these items together.

How bundling benefits you

Discounts to Your Overall Insurance Payments

Just as you would receive a discount for purchasing in bulk at Costco, insurance companies reward customers who have multiple policies with them. Bundling gives you the opportunity to receive a “multi-line discount” on your insurance. Discounts range from 10 to 15 percent. This variation depends on the type of policies you are bundling, the number of years you have been insured, and the insurance company you are with.

The most common type of bundle includes a property and a vehicle, such as your homeowners insurance bundled with your vehicle(s). However, this is by no means the limit to your options. There are many different types of bundles available, and we are able to build one with almost any personal insurance policy. Consider bundling your tenant's insurance and a single car, cottage and boat and home, two cars and an R.V. – a bundle is built with your needs in mind!

Better Understanding by Your Broker to Help Save You Money

Since an insurance package is tailored to your unique needs, it is ideal for you to have a good relationship with your broker!

By bundling your insurance policies, your broker is able to better understand all of your needs. Allowing them to more effectively provide suggestions for additional coverage, find you extra discounts, and seamlessly bridge the gaps between your coverages.

Simplicity at Renewal

Wouldn’t it be nice to only have to review your policies once a year, instead of twice or more? By bundling your policies, they will likely renew at or around the same time. This makes reviewing them significantly easier for you! Especially true if your policies are not with the same brokerage and you are required to relay new or updated information to multiple companies.

Insurance brokers work on your behalf. They have access to many different insurance companies. The more they know, the better equipped they are to review your policies and make recommendations for adjustments to save you money and keep you protected. This includes moving insurance companies if the coverage you need is no longer being offered, or if the premium has increased significantly. If your policies are bundled, this decision and process is much easier and worry-free!

If you were able to have a single stop for all your insurance needs, have a broker who knows you and all of your needs, and save some money while maintaining protection, why wouldn’t you?! Connect with us to find out how your insurance products might be even better together. 

Bring together your insurance coverage - It's to your benefit!

We can work with you to identify the different types of insurance coverage you need for your life. Our experienced brokers are ready to help you discover all that bundling has to offer! 

Contact Us to Find Out More

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