The insurance industry has language of its own! Many of the terms and ideas can be confusing. The idea of “bundling” is one such term. I often hear “What is bundling?” “Should I bundle?” “How much will it save me?” The fact is, the term bundling is actually just a new marketing term used to replace “multi-policy discount.” And as each carrier does things a little differently, it is important to understand your options.
Bundling will give you additional discounts. Discounts vary with each company, so you will need to shop around.
Bundling all of your policies with one company makes things easier.
Bundling can provide further coverage. For example, living in Texas with the high probability of hail, there are opportunities with specific insurance companies to have one deductible for your auto and home if both properties are damaged in the same storm. One deductible to repair both your home and car adds up to huge savings!
Discounts don’t always mean you’re getting the best rate. If your primary concern is price, you many want to shop around.
Bundling narrows your pool of insurance companies to choose from. Not all companies bundle, which can limit your options to their rates and services.
Even though some companies bundle, there are two separate bills.
Bundling may not always be beneficial in all circumstances, but it is certainly worth considering. When choosing a company, you should consider customer service, claims response time, billing methods and reputation. Your agent can assist you with choosing the best company for your needs.