4 Benefits of Bundled Insurance Policies

03 Oct

Financial Planning Consultation

When you shop for insurance, you may decide to receive separate quotes for both automobile and homeowner’s insurance. While you have the option to choose policies from different companies, many insurance companies offer you the opportunity to bundle your insurances together under a single policy.

The group insurance policy makes a lot of sense and also comes with benefits you may not be aware of. Before you make any final decisions on your insurance options, check out some of the benefits associated with bundled insurance policies and how you can really make the most out of insurance for your home and vehicles.

1. Package Discounts

When you bundle your insurance with a single company, the company may offer a discount for choosing them for multiple coverage packages. The discount will help you save money on insurance policies you already need, so you can make the most out of the savings.

In many situations, the savings will add to other discounts you already receive. For example, you may choose to receive a discount for paying for your insurance all at once. The discount can add up with a package discount and result in even bigger savings. The package discounts will likely continue each time you decide to renew your policy.

2. Fewer Credit Checks

Whenever you seek estimates for new insurance policies, the company will typically issue a credit check for the insurance. The credit check looks into your credit history to help determine the best rates for your insurance needs. The credit check will stay on your report for two years and could negatively impact your score.

If you search for multiple policies through different insurance companies, then the amount of hard credit checks that appear on your account can add up. When you go through the company for a bundled package, they can use the same credit check to determine your best prices. You will have fewer inquiries on your credit report, and your score can bounce back faster.

3. Easy Information Changes

As you go through life, you may have a wide range of changes to make to your insurance policy. For example, you could have simple changes like a new phone number or a change to your last name. You may have recently married and want to add someone to your policies to ensure they are covered as well.

When you have all of your insurance policies in one location, you can easily change the information. You will likely have other accounts and areas where you need to change information as well. Knowing you have a single insurance company to change information with will ensure nothing falls through the cracks.

4. Same Insurance Agents

When you sign up for bundled insurance, you will likely end up with a single agent who represents your whole file. Knowing your single agent will make it easy to communicate, request changes, and ask any questions you have. An insurance agent can help you with claims or any additional support you need for your policy.

When you get to know the agent you have, you can communicate easily and understand certain elements of your policies. You can use the agent to request changes, add options like umbrella coverage, and see what changes can impact your overall bundle deal. An insurance agent can become a trusted person to handle all of your questions and concerns.

You do not need to hop around from agent to agent to find out different information and details on your various policies.

Contact us at Family Insurance Centers to make the most out of your insurance packages. We can group your packages together and offer all kinds of insurance options for the Florida area. One of our agents can help you through each step of the way and break down all of the different group and bundle options available based on your needs.