If you’re not one of those people who comparison shop when renewing your insurance policies, maybe you should be. It’s always a good idea to look for better offers. Many insurance companies offer different types of insurance, such as home, auto, and even life insurance, in a single package. This allows the insurance company to offer discounted prices for a combined package, and makes the paperwork much easier.
Doing your homework
When it comes to buying insurance policies, there are two kinds of people. One type operates on autopilot and even autopay, setting up policies and paying the premiums to the insurance company year after year. The other kind, who make up about 44% of those who have insurance policies of one kind or another, always comparison shop before renewing their policies, according to the Consumer Insurance Survey for 2016.
Whether it’s a home, auto, or life insurance policy, it’s always a good idea to see what the alternatives are, and what has changed since you last signed up. Finding good insurance policies can be a work in progress, especially if you’re looking for several different kinds, such as homeowners insurance or car insurance. You may find an insurance agency that can offer a good discounted deal on a combined package.
Simplify the paperwork
A discounted price is not the only advantage of bundling your insurance policies, though it is a major consideration for many people. Bundling all your insurance policies from a single provider has another big plus, which is that is simplifies the paperwork. Instead of chasing after the paperwork for three or four different companies and policies, there’s just one account to keep track of, and one premium to pay.
In case you ever have make a claim, having a single account makes that much easier as well. About 5.3% of those with homeowners insurance filed claims in 2016, according to a report from ISO. Tracking claims can be much easier when you have just one account to look at, and can find all the information literally at your fingertips.
Getting a better deal for a combined package
An independent insurance agency can help you find a single policy to cover car, home and life insurance. The big advantage here is that many companies offer discounts for bundling and that can lead to significant savings. It may also be possible to add flood and fire insurance to the package, making it easier to secure your personal property.
At the end of day, insurance policies buy you peace of mind, and the necessary support in the event something goes wrong. Finding an insurance company that offers discounts for bundling different types of insurance in a single policy can save money and simplify the logistics.