Nearly all homeowners are covered by homeowners insurance and most car owners also have car insurance, making these insurance markets extremely competitive. Greensboro auto insurance agents are busily trying to make their insurance products as attractive as possible to potential clients. One way they’ve found to do this is by passing on savings possible by bundling these two types of insurance coverage with a single insurer.
Bundling involves buying two or more insurance policies from the same insurer. It could be auto insurance, homeowners insurance, life insurance, renters insurance, motorcycle insurance, RV insurance or more. The most common bundle is combining auto insurance with homeowners insurance. With some insurers, this bundle may save a policyholder as much as 25% on their premium costs.
Advantages of Bundling Policies
The primary reason you might consider bundling your Greensboro auto insurance policy with your homeowners policy is for the dollar savings on premiums. While not all insurers offer bundling discounts, many do, along with a number of other available discounts for which you may qualify. Bundling typically offers the best discount.
Another benefit of bundling insurance policies is the convenience of managing all of your bundled policies on a single website or by calling a single customer service telephone number. This saves both time and confusion. If you ever have to make a claim on any of your bundled policies you have just one number to call and your insurer will likely provide you with better service since they have more to lose if you’re dissatisfied. Bundling is good for your insurance provider because it assures them of more business and they know you’re less likely to cancel a policy when you have multiple policies with them.
Why Not to Bundle
While bundling multiple insurance policies often provides you with dollar savings on premium costs and more convenience, this isn’t always the best choice. If you can get an especially attractive rate for a policy with the features you want but not with another different policy with the same insurer it may be wise to do business with separate providers rather than bundling with one single insurer.
An example of this is when insuring a sports car or a high-end luxury car. These types of vehicles may be especially expensive to insure and the best, most affordable coverage may come from companies that specialize in this type of high-end insurance coverage.
** The information provided in this blog is intended for general informational purposes only. It does not constitute professional advice, legal guidance, or any specific recommendations. **