You may have heard that bundling your insurances may save you money... but is that really the case?
On a yearly average, 76% of Americans who shopped around for policies report saving money on their next policies by doing so.¹
If you're in the market for insurance, most likely you may be shopping around with several companies (which is the smart thing to do!)
One of the most common moves many policyholders make is bundling two unlike policies together under the same insurance company.
If you're like most consumers, you'd be wise to look for deals while shopping around. Consider this thought - what if you didn't have to look far for the best possible deal for your money - that, perhaps, the best deal for multiple insurance policies you seek happen to be under the same provider?
If you're someone who's already set on going with the same provider, good for you! Otherwise, if you're on the fence about going under the same provider, here are 3 reasons why bundling your policies may give you the best bang for your buck:
Let's start with the most obvious one: bundling your insurance policies can net you a discount with your provider.
Insurance companies offer as much as up to 25% for bundling your policies together.²
In addition, bundling offers you a combined deductible just for being with the same company. That's more than $1,000 of savings just by paying one price! (In addition to lower premiums)
2. Simpler Policy Handling
For some, foregoing bundling may come with the opportunity to save money by separate policies.
However, what happens if you need assistance with your policies - or worse, you need to file a claim with either policy? (more on that below)
Companies have reps and agents across the nation, if not all over the world.
That means different time zones, different schedules, and a whole lotta math to compute if you want to get in touch with them.
By not bundling your policies together under the same company, you may have to manage both your accounts separately and deal with different agents, reps, and adjustment periods.
Bundling allows you peace of mind knowing that one rep can handle your policies and claims. The same account rep can offer you an account review for all your coverages prior to renewal, which can help you save time and consolidate billing.
Also, if you are accustomed to checking things using a mobile phone, bundling makes it much easier to learn only one app!³
3. Easier Claim Assistance
Fun fact: if you file too many claims on your policies, you risk getting dropped by your provider.
However, that is less likely a case if you are a customer for a provider's divisions.
As noted above, you won't face the difficulty of having different agents, adjusters, and time schedules from different companies; if anything, expect an expedited claims process as the rep manages your losses.
One Last Point... Having an Independent Agent/ Broker to Get Things Done for You!
Having a dedicated representative at any company is like having your own personal concierge. They attend to your every need, they manage your account for you when you need assistance, and they make sure that above all, they represent and find solutions that best suit your interests.
Now, imagine that same agent having access to different companies!
That, my friend, is the definition of an independent agent, also known as an insurance broker.
A broker is the ideal advocate for a customer seeking multiple policies, as not only can they do all the shopping for you across different companies, but they also, more or less, can get it done within seconds (compared to contacting an agent for one company).
As your local neighborhood broker, our company thrives on customer relationship building.
It's why after almost 30 years, we have clients coming back with more of their loved ones.
Let us help you and your loved ones today with a free quote.
Contact us to see if bundling your policies may be the right solution for you!