Most people need more than one type of insurance, whether it’s auto, home, umbrella, watercraft, etc. While you can purchase each type separately, that may not be the most cost-effective or convenient approach. One way to save your time and money is by bundling your insurance policies.
Keep reading to learn what bundling means, what types of insurance you can combine, and how bundling might benefit you.
What is Insurance Bundling?
Insurance bundling means purchasing multiple insurance policies from the same company – for example, bundling your auto and home insurance. Instead of managing policies across different providers, bundling lets you keep everything in one place, which can help simplify your coverage and make it easier to manage.
What Type’s of Insurance Can You Bundle?
The most common insurance bundles are home and auto or renters and auto, but bundling can go beyond just those. Depending on your lifestyle and coverage needs, you may also be able to bundle policies such as watercraft or umbrella liability.
Since most people need either home or renters insurance, and anyone who owns a car needs auto insurance, which makes bundling these core policies a practical and popular starting point.
Benefits of Bundling Personal Insurance:
There are several advantages to bundling your insurance policies, including:
1. Discounts on Premiums
The top reason people bundle insurance is to lower their premiums. Most insurance companies offer multi-policy discounts that can significantly reduce your premiums, especially when bundling high-value policies like home and auto insurance.
2. Simplified Insurance Management
Convenience is the second most common reason for bundling insurance. When you bundle your personal insurance, you are only dealing with one company, which means less paperwork and fewer contacts. Overall, having one insurance provider means less stress.
3. Potential for Combined Deductibles
Some Insurance companies allow combined deductibles when multiple policies are impacted by a single event. For example, if a storm damages both your car and home, you may only need to pay one deductible instead of two, which can be a big financial relief during a stressful time.
4. Stronger Relationship with Your Broker
Building your insurance through one broker for all of your policies builds a stronger relationship. They’ll have a fuller understanding of your insurance needs and can provide better, more personalized guidance when it matters most.
Customer Reviews:
Don’t just take our word for it, here’s what our clients say about bundling their insurance with Hoffman Hanafin:
“I recently consolidated all of my personal insurance (home, auto, etc.) with the agency. Excellent service levels in both obtaining new insurance coverage and especially in cancelling previous policies. The entire process was efficient, and the overall cost of the bundled policies was most reasonable. Very pleased overall”.
“I had a great experience working with Ryan Miller on my home and auto insurance. He made the whole process really easy and was always quick to respond whenever I had questions. It was clear he genuinely cared about getting me the right coverage, and his communication throughout was top-notch. I’d definitely recommend him to anyone looking for a dependable insurance agent”.
“It was a very seamless process to switch our home and auto insurance, and we saved money. Highly recommend!”
Is Bundling Right for You?
Bundling can be a great option, but it’s not always the best fit for everyone. For example, you might prefer the lower auto premiums one insurer offers, but their homeowners insurance may not meet your needs or budget. In that case, it could make more sense to keep your policies separate.
Bundling might be the insurance upgrade you didn’t know you needed. Let Hoffman Hanafin show you how easy and beneficial it can be. Contact us today at 716.842.0700.
