The Benefits of Bundling Auto Insurance with Other Policies

You probably already know how important it is to have a variety of types of insurance—if not, check out our article on the four types of insurance everyone should purchase. Auto insurance, home insurance, umbrella insurance, and renters’ insurance may be crucial, depending on the individual—but the question remains: should you purchase multiple types of insurance under a single plan, or shop for different, separate policies? The answer—it isn’t very easy.

Bundling can be a great option with many benefits, but the right choice depends on your situation.

What is Bundled Insurance?

Bundling might sound complex, but it simply means purchasing multiple insurance policies from the same provider. Maybe you’re purchasing insurance for your car and your house or rental, or perhaps you have additional types of property you want to insure, such as a boat, motorcycle, or RV. Life insurance and umbrella insurance can also be included in such bundles.

Most often, bundling refers to buying home and auto insurance from one provider, though other types of insurance can also be included in some bundling options.

What are the Benefits of Bundling Home and Auto Insurance?

Bundling your home and auto insurance will benefit you in three main ways: by saving you money, saving you time, and giving you the best expertise from your insurance provider.

1. Save money:Typically, the main reason people choose to bundle their insurance policies is to save money. When you need to insure your car, home, and any other property, the premium costs can add up quickly. Often, bundling can earn you discounts on your premium. Most companies offer a discount on some form, so check with your agent to find out more.

   On average, people save about 18% through multi-policy bundles. Car and motorcycle bundles could help you save up to 10% or more.

2.  

   Save time:When you bundle your policies, everything goes under one provider. This can help you keep better track of monthly payments, renewals, and policy documents. It reduces the chance of forgetting to pay your bill and simplifies the billing process overall, eliminating much of the headache of getting your bills paid on time.

   Bundling also eases the claims filing process. If you experience damage to more than one part of your property, such as home and car damage in a storm or fire, you only have to call one insurance company to file your claims.

3.  

   Expertise:Through bundling, your insurance agent takes charge of all your policies, becoming your go-to person for all things insurance. Not only does this save you time and effort, but it also enables your agent to get the full picture of your coverage, identify any potential gaps, and make the best recommendations.

   This expertise, in the long run, can help you save time and money. It also makes it easier for you to raise any questions or concerns about your policies, as you have one expert who is aware of all your coverage.

Should I Bundle My Home and Auto Insurance?

Bundling insurance policies, whether it’s home and auto or any other type of insurance, can often provide great benefits. However, it’s paramount that you compare rates and get quotes from multiple providers to discover what option gives you the most coverage for the best price.

There are sometimes downsides to bundling insurance. For instance, you may get less coverage from bundled policies than individual policies. It’s also possible that even when your policies are bundled, the same insurance company might not be the one underwriting and servicing your policies—so be sure to be an informed buyer and ask your insurance agent if this is the case.

In many instances, you can score amazing discounts when bundling. But this is not always the case, as some providers may only offer discounts on certain types of bundles. Check with your agent to learn more and determine what’s best for your budget.

Remember—even if you don’t own your home, you can often get similar discounts from bundling your auto insurance with rental insurance.

Overall, bundling insurance can be a great option, if you approach it from an informed perspective. Speak with an agent from C&S today to learn more.