Why You Absolutely Need To Bundle Your Insurance Policies
Bundling insurance policies merely means having more than one insurance policy with the same company or agent. So, if you have car insurance, homeowner's insurance, and business insurance, and you have each policy through only one company or agent, you've bundled them together. If you have each policy through a different insurance company, you're not bundling them. It's that simple.
However, there are a few advantages to bundling that you should take advantage of. These benefits tend to look fairly small at first, but they are great to have when you are not in the best of moods and still have to take care of insurance-related tasks.
Discounts on Premiums
The biggest advantage to bundling insurance policies with the same company is that many companies offer discounts on premiums for each policy. The discounts can seem smallish (you're looking at something like a few percent off, not half off), but they help, especially if you're on a very tight budget. Discounts, if you get them, are applied automatically and should stay on your policies for as long as you're with that company.
Fewer Calls to Make Changes
If you have to change a policy due to financial issues, such as changing the payment frequency to have smaller payments, you'll be able to take care of all of the policies you have bundled with that company. The agent will be more in tune with how you need everything to be modified, and you won't have to explain your situation over and over. This seems like such a small thing, but it's an advantage that helps you when you're likely to be in a stressed mood and don't want to deal with too many tasks.
Easier Payments
You'll still be able to pay different insurance bills separately if you want. However, if you have a couple of premiums due around the same time, such as for your car and your homeowner's insurance, you'll have to make only one call, or log in only once to use your insurance company's online payment system. It is possible that you'll have to make two separate payments for record-keeping purposes, but even that will be easier as you'll still have fewer calls to make or fewer logins to enter. It may save only a few minutes, but when you're dealing with bills, those few minutes can make the difference between a simple task and a boring chore.
When you bundle insurance policies with the same company, you obviously want to go with one that you find easy to work with and that offers great prices. If that's one of your current insurance agents, that's terrific — but if you feel you can do better, start making calls to new agents now.
For more information, call a local insurance company.
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