How to Bundle Home and Auto Insurance Policies - NYCM Insurance Blog

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Jan 24, 2019

How to Bundle Home and Auto Insurance Policies

If you own both a home and a vehicle, chances are you would benefit from bundling the two insurance policies together. Bundling policies comes with several advantages and perks that will allow you to get the most out of your insurance. Continue reading to learn more about bundling your policies and the perks that come along with it.

What does it mean to bundle insurance policies?

You may find yourself wondering “What exactly does bundling mean?” Let’s dive into what it means to bundle your insurance policies. First, let’s define it. An insurance bundle means that one policyholder has more than one insurance product with the same insurance company. One of the incentives for doing so is often a discounted rate. The discount that is given when two or more policies are bundled together is sometimes also known as a multipolicy discount.

What are the advantages of bundling my insurance policies?

A multipolicy may come with a wide variety of benefits and perks that vary from insurer to insurer. Two of the most common advantages of bundling two or more policies are that it will allow you to save money on your policy and save time when writing or managing your policy.

Bundling discounts will vary by insurance company, but you may save an average of 5 to 25 percent on each policy. The national average of savings when bundling your auto and homeowner’s insurance is around $200 off of your annual premium.

When you bundle your policies, your insurance carrier becomes a one-stop shop for all of your insurance needs. This will save you time whenever you need to manage your policies in any way. By having all of your insurance policies with one company, your carrier will be familiar with the full extent of your insurance history. 

For anyone who struggles with staying on top of their bills, bundling policies can be a convenient way to consolidate payments. Additionally, if you utilize direct deposits to pay your monthly bills, you may be able to receive an additional discount.

How do I bundle my home and auto policies?

If you are interested in bundling your insurance policies, a good way to start is by contacting your insurance agent. With the help of your agent, you will be able to find the best combination of policies that fit your coverage needs and your budget.

If you do not have an insurance agent, you can click here to find an agent near you. Once you find an agent, you should call them and ask about bundling insurance policies.

How can I make sure I’m getting the best deal?

Don’t be afraid to ask your insurance agent about your discount options, and to see if additional discounts are available for electronic funds transfers, advance payments, defensive driving, or driving behaviors.

Bundled policies often result in discounts, but make sure you know exactly what you’re getting and who you’re getting it from because ideally, for both you and the insurance company, a bundle is the beginning of a lasting relationship.

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