Advantages of Bundling Insurance
People are always looking to save money, especially when it comes to their insurance. Bundling your insurance policies is one of the easiest ways to keep a couple of extra dollars in your pocket, but did you know bundling also offers improved protection?
What is Bundling?
Bundling is simply when you buy multiple types of policies, like for your car, home, life, etc., from the same insurance provider. This means that all of your policies are in one place, making it more convenient to find out information on your policies.
Benefits of Bundling
Bundling or a multi-line discount is how insurance companies attract customers who are looking for more than one type of coverage. Companies are looking for clients that will stay with them for years to come as much as clients are looking to save money, which is why they offer multi-line discounts. By bundling two or more policies, you can save between 10% and 25%, compared to what you would be charged for each individual policy.
A huge benefit to bundling your policies is that you can have improved protection when there are claims involving both types of insurance (ie home/auto or condo/auto). Some companies only charge one deductible for “common” losses in cases of fire, tornadoes, etc, whereas others charge your homeowner’s deductible and separate deductibles for each damaged vehicle.
It’s convenient to have your different policies purchased by the same agent rather than having multiple different insurers involved. By bundling, not only is communication made easier, but your insurance agent will have more insight into your specific coverage needs. As part of the relationship you build with your agent, they will understand and access all areas that are exposed to risk and serve you appropriately. For example, anytime you need to update your address or make coverage changes to your policy, it can all be done in one place instead of having to contact multiple different companies/agents. Plus, they can be sure that everything is issued properly to best protect your assets.
Types of Policies You Can Bundle
The most common types of bundling are home & auto and renters & auto, but there are many different policies you can combine. You may also be able to add on life insurance and policies for things like motorcycles, ATVs, boats, and umbrella coverage.
Regardless of what policies you may need, an agent at American Advantage – IFS is here to help you. If you want to learn more or have questions about bundling your policies, call or message us today. (262) 696-5800