Bundling insurance simply means buying multiple types of insurance policies from a single insurer.
Why bundle insurance? It could mean big savings. Many insurance companies give discounts on premiums for buying car insurance, home insurance and even life insurance from them! According to J.D. Power and Associates more than three-quarters of personal lines insurance customers bundle at least two types of insurance policies; most often their homeowners insurance and auto insurance.
Other benefits for bundling insurance besides premium discounts for buying your insurance policies from a single carrier may also include things like: a new home credit, monitored alarm credit, claims free credit, defensive driving credit and a multi-car discount to name a few.
Bundling insurance policies also creates convenience because you only have to contact one company in the event of a catastrophe. Bundling also allows a full service insurance agent to advise you regarding the big picture of your insurance coverages and bundling insurance needs may provide you with the most affordable price. Also consider the following examples regarding a quote for bundling home and auto insurance. These examples and other potential variables can make a difference regarding your individual needs:
- Home value, car and other items you want to include in a bundled plan.
- Amounts of coverage for each policy type.
- If you want or need full coverage for your car(s), including collision or comprehensive coverages.
- Limits and deductibles you choose for each policy type.
- Additional coverages such as: more drivers and/or an umbrella policy that provides extra/excess personal liability coverage.
But, in some cases bundling insurance isn’t always the best way to go. Many many factors play into insurance coverages and needs in today’s world. Insurance carriers look at your insurance history, your credit standing, your on time bill payment history and risk just to name a few. Before bundling insurance policies see if it makes good sense for you to bundle insurance.
Your best bet is to consult a full service insurance agent and have him or her compare bundled insurance rates and unbundled insurance rates to see what’s best for you. Make sure the deductibles and coverages are comparable among the choices before selecting the best overall value for your particular needs, and last but not least don’t forget to consider an insurance carriers’ financial stability and their claim service reputation in Texas.
“Insurance Texans Trust”
Costlow Insurance Group, Inc.
3521 Main St., Suite 100,
Rowlett, TX 75088