Your car, home, motorcycle, boat and other items are all expensive assets. Each of them needs a unique insurance policy. However, managing multiple policies might seem challenging for anyone. That's why so many Americans bundle their policies.
Bundling is a great way for insurance customers to keep all their policies under the same roof. This practice can also lead to multiple financial benefits. By bundling, you often have a chance to tap into policy savings that might not be available otherwise.
Financial Benefits Of Bundling
When you bundle, you buy some (or all) of your policies from the same insurance company. If you bundle, you often qualify for several financial perks.
- Bundling means you can often pay for all your policies at the same time. Therefore, there's very little risk of your ever missing a payment.
- If you have to file claims on multiple policies, some insurers allow you to only pay one deductible. For example, you might have to file a home and car insurance claim because a tornado damaged both aspects of your property. If you have a bundle, you might only have to pay the higher of the two policy deductibles.
- The action of bundling might lead to an automatic discount on your rates. When you bundle, some insurers take it as a sign that you might stay with the company year-over-year. Therefore, they might reward your loyalty.
Other Savings To Ask For With Bundling
If you are looking to bundle, ask your Kasky Insurance & Financial Services agent which insurer offers the best savings. Besides the bundling discounts, other savings might apply. Sometimes, the way you structure your payments can equal price cuts.
Here are a few common discounts.
- Pay-In-Full Discounts: You might elect to pay your policy's entire premium up-front, rather than in installments. If you do, you lower your risk of letting your coverage lapse. Savings may result.
- Automatic Payment Discounts: Even those who pay in installments can receive discounts. By signing up for auto-pay, you allow your insurer to deduct your premium from your account. You can worry less about missing payments.
- Paperless Billing: Your insurer won't have to mail you a paper bill, which could save both parties time and money.
- Automatic Renewal Savings: If you want to stay with the same insurance company over time, you can often set up your policy to automatically renew. This might lead to discounts from the insurer.
Keep in mind, not every insurer will offer the same discounts. Therefore, let Kasky Insurance & Financial Services be your guide to insurance options. Your agent can tell you how to structure your bundles to get the lowest-priced coverage.
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