If you own a car and a home, you need insurance to protect your assets. Many policyholders have insurance coverage with different companies that provide separate policies for their homes and vehicles. However, bundling these two services together can be a real time and money-saver. When you bundle the two types of insurance together, you can easily refer to your policies and, in most cases, get a pretty decent discount to boot. So, is bundling your home and auto insurance suitable for you? Read on to find out more about the process and whether or not it’s the best route to take.
What is insurance bundling?
The concept of insurance bundling is relatively simple. Instead of having a separate car insurance and home insurance policy, you “bundle” the two together. Many major insurance companies offer this option to their customers in exchange for a discounted rate. The national average discount for bundling comes in at around 16 percent. Bundling can also make it easier for you to access both of your policies whenever you need to refer to them or if you want to make a change, such as adding or removing a vehicle or changing your property address. When bundling insurance, you’ll need to put both policies under the same company. If you currently have policies under separate insurance providers, you’ll be required to choose one of them to bundle your policies together. Weigh the pros and cons and what you like and dislike about each company and use that information to help you decide which one will suit your needs the best. If you’re unsure who to choose or where to start, talk to an insurance agent who can help you get the best rates, the best coverage, and the best bundling option.
This article is the first of a four-part series.