Bundling Your Insurance Policies: What It Means and How It Can Help You Help Save Money - NYCM Insurance Blog

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Aug 30, 2023

Bundling Your Insurance Policies: What It Means and How It Can Help You Help Save Money

Check Out These Tips for Bundling Your Home and Auto Policies to Make Sure You are Getting the Best Deal!


Insurance is a non-negotiable expense in many households. That being said, you’ll want to be sure you’re getting the best coverage for the price you’re paying by taking advantage of discounts along the way. If you own both a home and a vehicle, there’s a good chance you would benefit from bundling your policies together. Bundling policies offers several advantages which can allow you to get the most out of your insurance. Continue reading to learn more about bundling your insurance policies and the perks that come along with it.


What Does Bundling Your Policies Mean?

An insurance bundle is a simple way of stating that a policyholder carries multiple insurance policies under one company. Bundling your policies can not only make managing your insurance easier, but also cheaper. One incentive that is frequently offered for bundling polices is a discounted rate. This discount is often referred to as a multipolicy discount.


What Advantages Are There to Bundling?

Bundling your policies can come with a wide variety of benefits. Although these benefits will likely vary between carriers, two of the most common advantages of bundling are the money you will save on your policies and the time you will save managing your policies.


Discounts will vary by insurance company; however, 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 on your annual premium.


When you bundle your policies, your insurance carrier becomes a one-stop shop for all of your insurance needs. By having all of your insurance policies with one carrier, they will be familiar with the full extent of your insurance history, which can be very useful if an issue were ever to arise.


For anyone who struggles with remembering to pay their bills, bundling policies can be a convenient way to consolidate payments. Additionally, if you utilize electronic funds transfers for  your monthly bills, you may be eligible to receive additional discounts.


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. Your agent should be able to help you find the best combination of policies to fit your coverage and budgetary needs.


Asking your insurance agent about available discounts is a good way to ensure you are getting the best deal. Be sure to see if you are eligible for discounts related to electronic funds transfers, advance payments, defensive driving, or driving behaviors.


Bundling policies can be the start of a long-lasting relationship between you and your insurance carrier. It’s important to do your research to make sure that you are getting the best deal from a company that best fits your needs. For more information about bundling insurance polices and policy discounts with NYCM Insurance, check out the link below!