When you purchase more than one type of insurance – auto and homeowners , for example – from the same carrier, it’s called bundling. The most commonly bundled policies are auto and either homeowners, condos, or renters insurance, but you can also combine your auto or home with other policies like boat or RV insurance. Or you can bundle by insuring both your primary residence and a vacation property with the same insurer.
Your goal with bundling is to get the coverage you need while saving money on your premiums.
While there are exceptions, bundling typically saves you money. ‘How much’ varies widely, based on where you live, the company you insure with, and what you’re insuring. Total savings can add up to hundreds of dollars a year.
And, you can save not just in premium costs, but in other ways as well. For example, if both your home and car got damaged by a single incident, like a house fire, you would save if your coverage was bundled because you could file a single claim and pay just one deductible. If you’d had your car and your home covered by different insurance companies, you would need to file separate claims and pay two deductibles.
Bundling also saves time because it’s convenient. You could have just one renewal date and you make just one payment each month for all policies. Plus, if you need to add coverage or make changes, you can do so with just one call.
Also ask your broker about bundling Umbrella Coverage with your auto or homeowners policies, to provide extra liability protection. When bundled, the cost of the extra Umbrella Coverage may provide better coverage at less cost than a standalone policy with higher liability limits.
Bundling is not for everyone and not every insurer allows you to bundle policies. Sometimes the company that can offer you the best auto rates may not have the best homeowner rates, and vice versa. It’s a constant balancing act, but your Alaska USA Insurance Broker will help you calculate overall savings. Your broker will also make sure you’re getting the best value on your insurance coverage.
The process of comparing individual policies to bundled coverage can be complicated. This is where the true value of an insurance broker shines through. Alaska USA Insurance Brokers will do the shopping for you, to help you identify the best policies, and make sure you’re making solid comparisons.
A good insurance policy is tailored to your needs and your assets, and bundling allows you to take advantage of either additional coverages or lower premiums. We’ve got you covered.
Discounts for bundling are layered on top of the other discounts for which you may already be eligible. Make sure you take full advantage of all available discounts, including those for safe driving, continuous coverage, good credit and others.
Typically, the more products you bundle, the greater the savings. But before you decide to put all your eggs in the same insurance basket, make sure the coverage works for you and your situation.
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