Bundling Your Home and Auto Insurance: What You Need To Know
Nobody likes to pay more for things than they have to. That applies to everything in life, whether it’s groceries, vacations, cars, or insurance. The good news is that there’s a straightforward way to save money with insurance. It’s called “bundling”.
To “bundle” your insurance, you must have more than one insurance product with the same insurance provider. For example, you could have several insurance products, such as business, home, and auto insurance. But when you place all your insurance with the same insurance company, it’s called bundling and almost always results in savings. The same is true if you are part of an Archway Advantage Group.
We’ll tell you about:
- How bundling can save you money
- How bundling can save you time
- When bundling may not be the right choice for you
Bundling Saves You Money
One of the great things about having personal group insurance is that it will save you money. Insurance companies tend to refer to this kind of discount as a “multi-policy” discount, and it can save you up to 15% to 20% on your insurance premiums.
The more policies you bundle together, the more you are likely to save. At Archway Insurance, we offer several different kinds of insurance:
- Property (such as home or condo)
- Seasonal Property (cottage or camp)
- Recreational (including ATVs and snowmobiles)
The more of these insurance types you have through one insurance company, the more you can save on your overall insurance costs.
Bundling is Convenient
Another advantage of bundling is that it makes your life so much more convenient. When you have personal group insurance, you get all of these benefits:
- All your policies are in one place with one company.
- You have less paperwork.
- If you have any insurance issues at all, you can address all your problems in one place.
- If you have a loss that impacts both your home and auto insurance, you don’t have to pay multiple deductibles.
Here’s a sample scenario where you can save so much time and hassle with personal group insurance. There’s a bad winter storm, and a tree branch falls onto your garage, smashing the roof and damaging your car.
As you have home and auto insurance as part of your group insurance, you’re all set. You can go to one place to file your claim, and you may only have to pay one deductible, depending on how your personal group insurance is set up.
When Bundling May Not Be The Right Choice For You
There are a couple of instances in which bundling may not be the right choice for you:
- You have a bad claims record on your auto insurance, which doesn’t qualify you for the best rates or to purchase insurance from the same company insuring your home.
- You have complex insurance needs. If you have particular and complicated insurance needs, you may not be well-served by a bundle. You may be better off working with different insurance companies for each type of insurance.
If either of the above scenarios applies to you, you may not benefit from having personal group insurance.
When dealing with a stressful life event, it can pay to have bundled insurance just one. And just call one company, and you’re on your way to getting things back to normal.
Personal Group Insurance is Your Ticket to Insurance Savings
If you have more than one type of insurance, bundling them together into a personal group insurance can be a great idea. You can save yourself money by getting access to multi-policy discounts. You can also save yourself time and stress by having only one insurance company to deal with, no matter what type of insurance claim you need to make.
When something goes wrong, we want to help you get things as fast as possible. Bundling insurance is a great way to help with this – as having all of your policies and information with one company speeds up the claims process!