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Choosing Wisely: The Basics of Bundling Insurance

Finding ways to save money on insurance is often a top priority for many people. Fortunately, choosing to bundle your insurance with the same carrier can often result in significant savings, and it’s much more convenient than using multiple insurance companies.

An insurance agency can work with you in comparing all of your available options while also helping you determine if bundling is the best decision for your situation. Learning more about the basics of bundling and weighing all of the pros and cons of this decision is important to help you avoid making any mistakes.

What Does Bundling Insurance Really Mean?
Bundling is simply the process of buying multiple insurance policies from the same provider. One of the most common forms of bundling is combining home and auto insurance together. However, it’s also possible to bundle other types of insurance, whether you are interested in combining your motorcycle, boat, RV, and other policies together. An insurance agency can play a key role in helping you bundle your insurance while saving you a lot of time and effort.

Here are the main benefits of bundling your insurance.

Can Save You Money
One of the biggest advantages of bundling your insurance policies together is that it can result in significant savings. These cost savings can vary greatly between insurance providers, as it’s possible to save up to 25% on your insurance. Getting several quotes and comparing all of your options is essential, as an insurance agency can easily handle this task for you.

Keeps Things Simple
Another benefit of bundling your insurance coverage is that it helps to keep everything more simple. For example, working with the same insurance provider allows you to consolidate your statements and billing. You can access all of this information in one location, which is a lot more convenient than trying to keep track of multiple insurance policies from different carriers.

Less Likely to Get Dropped
Getting dropped from your insurance provider due to filing a claim is never a fun experience. However, you are less likely to lose your coverage if you have multiple policies with the same insurance company. Of course, it’s still a good idea to compare all of your available options each year to make sure you are always getting the best insurance to fit your needs.

Here are a few of the potential drawbacks of bundling your insurance.

Not All Policies Are the Cheapest
Bundling your insurance policies together doesn’t always save you money. For example, it may be cheaper to purchase separate policies if you have previous claims or if you’ve been involved in an accident or moving violations. You may not even be eligible for bundling insurance if you are considered high-risk. Discussing all of your options with an insurance agency can help you find the best plan for your needs. 

Less Likely to Shop Around
Another potential drawback of bundling your insurance is that you may be less likely to shop around and compare other available options. This can actually cost you more money in the long term if your premiums start to rise each year. Always shopping around once a year is important in getting the best insurance coverage available at the right price.

Some Insurers Use Affiliates
Bundling your insurance together can still force you to deal with multiple companies if an insurance company uses affiliates. Some insurance providers will farm out policies to other agencies, as this can make it more difficult to manage your policy. Asking ahead of time can help you find out if an insurance provider uses affiliates or if they handle everything on their own.

Why You Need an Insurance Agency for Bundling Insurance
Bundling insurance policies can be a great way to save on your premiums, but it can be time-consuming to compare multiple policies. Spending time on the phone getting quotes from different insurance providers can also feel stressful for many people. An easy way to streamline this process is to partner with a local insurance agency. These professionals can easily find the best options available to help you determine if bundling is the right decision to meet your needs.

Contact Wellcovered Insurance to Learn More About Bundling Coverages
Wellcovered Insurance is one of the top insurance agencies for clients in Seminole and Volusia Counties. Our experienced team can help you find the best insurance coverage available by comparing quotes from all of the leading insurance companies.

We can determine if bundling your insurance with the same provider is the right option for your situation. You can also choose from a variety of insurance options, whether you are looking for home, auto, boat, condo, RV, rental property, business liability, and much more. We will also make sure you receive any available discounts. 

You can drop by our local office if you ever need to make changes or if you have a question about your insurance policy. You can get an auto quote in only 15 minutes, and it just takes one or two business days for a home insurance quote. Staying active in the local community is a top priority at Wellcovered Insurance. We also strive to build valuable long-term relationships with each one of our clients.

Feel free to give Wellcovered Insurance a call to learn more about the benefits of using an insurance agency for bundling your coverage!