If you’re not taking advantage of the Bundle and Save discount, you may be paying more to insure your car and home than you need to. Bundling your auto and home insurance is not only one of the easiest ways to earn a discount on your policy premiums, but it also offers drivers, homeowners, condo owners, and renters several other benefits. Still not sure about cashing in on Bundle and Save? The following information might help satisfy any lingering doubts you have about the simplicity of this insurance option.
How Do You Save Money With Bundle and Save?
To be eligible for the Bundle and Save discount, you typically need to purchase your home and auto insurance through the same insurance company. If you use separate insurance carriers for these policies now, the first step is to investigate the bundling options of your two current carriers.
Some of the initial questions you may want to ask include:
- Is there a discount for bundling auto insurance with a homeowners, condo, or renters insurance policy? While a Bundle and Save discount has become a popular offering across insurance companies, not all carriers have it, so it’s good to ask this question. However, you may not want to automatically cross a company off your list just because it doesn’t have a Bundle and Save discount. Some insurers sell only one type of personal insurance product, like home insurance but not auto insurance. These carriers may offer policyholders a bundling alternative—a discount for working with a local insurance broker, like Fred C. Church, for all your insurance requirements.
- What percentage discount can I get for bundling home and auto? Discounts can vary greatly across carriers, from 10% to 25%. The answer to this question will likely be one of the deciding factors for you when it comes to choosing which insurance company to bundle your policies with. However, we do want to caution you not to make your decision based solely on the amount of the bundling discount. You also want to be confident that you’re not sacrificing service or coverage for those extra dollars of savings.
- How is the bundling discount applied? Some carriers may split the discount between your two policies, while others may apply the discount to just one policy or to the total combined premium of both policies. You’ll want to ask about each company’s method of applying the Bundle and Save discount, as it could make a substantial difference in the actual dollar amount you save.
If you’re enticed by the savings potential of Bundle and Save but wondering where to begin, Fred C. Church wants you to know you don’t have to do any of this on your own. Our team will review your current auto and home policies, determine whether either or both of your current carriers offer a Bundle and Save discount, and identify which one might save you the most money. We will also compare your current insurance companies’ bundling programs with other excellent options from the top national and regional insurance carriers we work with, as they might provide you with an even better Bundle and Save discount.
How Does Bundling Home and Auto Make the Insurance Process Easier?
Because bundling your home and auto insurance policies may require going through the process of changing insurance companies, you could be thinking that the Bundle and Save discount makes the insurance process more difficult. While you are right that making this transition can sometimes be complex, working with a local insurance professional like Fred C. Church means you won’t have to spend any time or energy on it yourself. We handle the details of switching for you, including:
- Making sure the coverages in your new bundled policies match or exceed those of your old policies. We never want you to forfeit coverage in the name of saving money. We will review the new policies and make sure you’re continuing to get the same level of protection or better.
- Finding out if you’re owed a refund by your current insurance company. If you’ve already paid off some or all of your policy premium and are canceling before the policy end date, you may have a reimbursement check coming your way.
- Alerting you if there will be any cancellation fees assessed. You may be charged a fee if you’re canceling your existing policy before its end date, which is something we would want you to know in advance, if possible.
- Ensuring your new bundled policies start exactly when your old policies end. If the timing is not synced up precisely, there could be a gap in insurance coverage for your home, auto, or both. Even if that gap lasts just 24 hours, it could show up in your insurance history, resulting in higher insurance rates in the future. In addition, if you are unlucky enough to be involved in a car accident or to have someone injure themselves on your property during this window of time that you aren’t covered by insurance, you could have some serious issues to deal with.
- Helping you inform your car and home lenders of your change in insurance. This is an important step when you change insurance companies. As your insurance broker, we are glad to assist you with sending proof of insurance to your lenders.
Once we’ve assisted you with bundling your home and auto insurance, managing your insurance policies is likely going to feel a whole lot simpler. Two of your most valuable assets are now protected by the same insurance company, which means one destination for paying bills, filing claims, getting answers to your insurance policy questions, and more.
What Other Benefits Do You Get When You Bundle Home and Auto Insurance?
The opportunity to possibly save hundreds of dollars on your home and auto insurance without having to lift a finger may have been all the information you needed to move forward with deciding to bundle your policies. However, we did want you to know that there’s still more value to be had when you Bundle and Save, including the following:
- You may be able to bundle insurance policies beyond home and auto. Insurance bundling refers to purchasing more than one insurance policy from the same company. As discussed, bundling auto insurance with your home, condo, or renters policies often saves you quite a bit of money compared to purchasing each policy from separate companies. Depending on the insurance company, you may have the option to bundle additional insurance policies, such as motorcycle, with your home or auto for even more savings.
- You may pay only one deductible if a covered event damages both your home and car. When you have an auto or home insurance claim, the deductible listed on each policy is the amount that you are responsible for paying before your insurance kicks in. So, if you experience a catastrophe that damages both your vehicle and house at the same time, you may have to cover two deductibles before insurance will cover your claim. However, if you’ve bundled your policies with the same insurance company, the carrier may hold you accountable for only one deductible in these types of situations. This is yet another way the Bundle and Save discount might help you save.
Again, not all insurance companies offer the same benefits. In our role as your personal insurance broker, we will help you evaluate which added Bundle and Save options you may be eligible for.
It’s not always a great idea to do something just because everyone else is, but in the case of Bundle and Save, we encourage you to hop on the bandwagon. Contact Fred C. Church today so we can get started finding the insurance company with the best insurance bundling program for you, as well as other cost-saving insurance options you may be missing out on, like Accident Forgiveness and Disappearing Deductible.