Has someone suggested that you bundle your home and auto insurance policies to cut costs? This is a wise thought and one that savvy insurance policy holders have capitalized on for years. Here’s how it works.
What Is Insurance Bundling?
Bundling insurance means having multiple policies with the same insurance company or agent. You can bundle multiple home policies if, for instance, you purchase insurance for your primary residence and your vacation home at the same place.
Or you can bundle multiple auto policies, so your car, your spouse’s car, and your teen’s car are all under one roof. Most commonly, people bundle their home and Missouri auto insurance policies with the same insurance carrier.
How Does Bundling Home and Auto Insurance Help You Save Money?
There are a couple of ways you can save money with insurance bundling. First, most insurance companies offer significant savings — up to around 20 percent — when you purchase multiple policies together. They do this because, in the long run, they make money when you do more business with them.
Additionally, bundling home and auto insurance usually gives you what’s called a single deductible benefit. As you probably know, your deductible is the amount you must pay out of pocket when you file a claim. If you have both your home and auto insurance with the same carrier, you only pay one deductible if multiple claims are filed simultaneously.
So, if you have a fire that damages both your car and your home, you only pay one deductible. Likewise, if you hit your vehicle’s accelerator instead of the brake and drive through the front window of your house, only one deductible is required when you file claims for both.
Are There Other Benefits to Insurance Bundling?
Most folks find there are other advantages to bundling their insurance policies:
- The convenience of having all their insurance just one phone call away
- More personalized service, especially if you work with an independent agent to set up your policies
- Better security, as you’re less likely to be dropped as a customer (which sometimes happens after expensive claims) when you have multiple policies with the same company
Some people find that bundling insurance directly with big-name insurance companies doesn’t actually save them money. This is because large companies have a limited number of products, so even if your auto insurance is reasonable, your home coverage might be costly.
You can get around this by working with independent agents like Clayton Hanley Insurance. Independent agents have many more products available to them because they work with dozens of different insurance carriers. We can find just the right mix for you that gives you great protection AND great prices.
Ready to learn more about saving by bundling your home and auto insurance? Call Clayton Hanley Insurance at 314-487-2921 today, or use our easy online form to start a quote at your convenience.