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Should you bundle your insurance?

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

Should you bundle your insurance?

There are great benefits to bundling your home and auto insurance! 

Insurance products are better together!

What is 'bundling'?

Bundling your insurance means that you are purchasing multiple insurance policies from the same insurance company. For example, if you purchase an insurance policy for your homecar and RV 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. 

Why you should bundle your insurance products

The biggest motivator for bundling your insurance is the opportunity for premium savings! This comes in the form of a “multi-line discount”, where the insurance company rewards you with a discount for having multiple insurance products with their company. The most common pairing is to bundle your home and auto insurance, but there are lots of options! You can bundle in your lifestyle products such as boats and RV's, or link your motorcycle and seasonal policies! Bundling can save you between 10 and 20%. 

Additionally, it is easier for your insurance company to protect you properly, and your broker to advise you, if all of your insurance products are in one place. Consider a situation where a fire destroys your garage and your car. If you insurance is bundled, you will likely just be paying one deductible to activate your insurance, instead of two deductibles - one to each of your home and auto insurance providers. It also means that you only need to deal with one insurance company while trying to settle a claim. This is not only easier for you, but it is typically faster! 

If your insurance policies are bundled together and you have been with an insurance company for a while, You can start to see loyalty perks. Such things include: you may start to receive a "Loyalty Discount", or your insurance company may extend more lenience with claims forgiveness.  

By bundling your insurance policies, your broker is also 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 coverage. Insurance brokers work on your behalf. 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.

Bundle your insurance coverage - It's to your benefit! 

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