When it comes to insurance, everyone wants to find the best deal without having to sacrifice coverage. However, if you’ve compared quotes from multiple companies before, you may have found this isn’t always easy. Thankfully, it can often be achieved by bundling your insurance policies. That’s because most insurance companies offer multi-policy or bundling discounts for customers that combine different policies under one insurer. Let’s cover the basics of insurance bundling and how it can help you save.
What is Insurance Bundling?
Insurance bundling means purchasing two or more different insurance policies with the same company. Most customers typically choose to bundle their car and home insurance policies, but you can bundle any combination of policies that your insurer offers. Bundling your insurance policies is essentially creating a “package deal” with your insurer, which opens the door to a few benefits.
When you bundle insurance policies, you make it easy to manage or make changes to either policy. But that’s not all—you can even save money by doing so. For example, you could save up to 14.7% off your home insurance policy with Mercury Insurance when you bundle it with an auto policy.
What are the Most Common Types of Insurance Bundling?
In most cases, you can get a multi-policy or bundling discount for combining two or more insurance types. Although home and car insurance bundling is the most common, you can bundle any combination of policies, including:
Renters & Auto: If your auto insurer also offers renters insurance, you can receive benefits similar to when you bundle car and home insurance policies. Renters insurance is typically inexpensive compared to other insurance types, so this can help you save and protect your assets at the same time.
Auto & Motorcycle, Boat or RV: For many households, the family car isn’t the only motorized vehicle in the home. If you own a recreational vehicle, such as a boat, motorcycle, or camper, consider bundling these policies with your auto insurer if possible to secure your adventures and wallet.
Auto & Umbrella: If you can’t bundle your auto and home insurance under the same provider, another option can be to bundle an auto policy with an umbrella policy. Umbrella insurance provides you with additional liability protection, making it a good choice if you have a variety of assets.
What Are the Benefits of Bundling Insurance?
Still not convinced? Let’s cover some of the major benefits of bundling multiple types of insurance.
Easier Payments: A major benefit of bundling your insurance policies is making payments to a single insurer instead of multiple payments to different companies. This makes it easier to keep track of your insurance costs throughout the year and reduces your chances of missing a payment.
Simple Account Management: Need to make a change to one or more of your policies? Easy! When you bundle your insurance, making changes only takes a single phone call or a couple of clicks online.
A Streamlined Claims Process: Nobody wants to deal with an insurance claim, but if disaster strikes and you must file multiple claims for your property, having all your policies under one roof will make the process a lot more manageable.
Consistent Customer Support: Bundling your protection with a single reliable insurance company will ensure you always know what to expect when you need customer support.
When You Should (And Shouldn’t) Bundle Your Insurance
As we’ve covered, there are many potential benefits to insurance bundling. However, before you make a major change, it’s important to review your current policy carefully and ask yourself a few questions, such as:
How will bundling change my coverage levels? Saving money is a great benefit, but you want to ensure you’re not sacrificing coverage just to save a couple hundred dollars in the short term. If you’re unable to receive the same amount of coverage through bundling, you may want to reconsider.
Are there any extra benefits to bundling? Your new insurer may offer customers with multiple policies additional perks beyond a premium discount. Always ask about any added benefits for bundling before purchasing to ensure you’re getting all you can.
How much will I really save? Although you can save big by bundling your car and homeowners insurance, it’s not a guarantee. Lots of different factors go into determining your insurance rate, so although bundling can save you money, the full amount can vary greatly from policy to policy.
Am I considered a risky driver? If you have multiple traffic violations or a DUI on your record, keeping your car policy separate with a specialty insurance provider may save you more money than bundling.
Does my home require special coverage? Where you live greatly affects how much you pay for home insurance. If you live in an area prone to natural disasters, staying with your specialized homeowners insurance provider may make more sense than switching.
Let AIS Help You Save
At AIS, we’ve helped our customers find reliable solutions to their insurance problems for over 55 years. And with our growing network of top-rated insurance partners, we make it easy to find insurance bundling options no matter what type of policy you need. Our insurance specialists will work with you to find a policy that best suits your budget and needs. Give us a call today at (888) 772-4247, or start a new quote online.
The information in this article is obtained from various sources and offered for educational purposes only. Furthermore, it should not replace the advice of a qualified professional. The definitions, terms, and coverage in a given policy may be different than those suggested here. No warranty or appropriateness for a specific purpose is expressed or implied.
