As life changes, so do your insurance needs. As a young college student, you may have only needed auto and renters insurance. Later on, you purchased your first home and swapped your renters policy for homeowners insurance. Now, maybe that has grown to insurance for a business, an umbrella policy, life insurance, coverage for a boat or RV, and more.
How do you keep track of everything? Do you have multiple insurance agents and different insurance companies? Or is everything with one agent?
It can take a lot of time and energy keeping track of your insurance and managing your policies. Keeping your insurance policies with one agent can simplify your life and offers these benefits:
- Discounts — many insurance companies offer discounts for bundled policies. The exact discount will vary among insurers but generally ranges between 5% and 25%.
- Single deductibles — if a loss applies to more than a single policy, the deductible you pay may apply to all your coverage. For example, if a severe storm damages your vehicle and your home and you carry both policies with the same provider, you may only have to pay a single deductible.
- Convenience — bundling policies together cuts down on paperwork and makes your coverage easier to manage. And because you only have to work with a single insurance company, you can save time by viewing your premiums, renewal dates, and other information all in one place.
- One point of contact — no need to call multiple agents when you have questions or need to make a change to your insurance.
- Less chance of dropped coverage — insurers regularly drop coverage if a policyholder makes a large number of claims. But, if your policies are bundled together, providers will be less likely to drop you.
- Eliminates gaps in coverage — if you work with just one agent, they’ll have a broad view of your policies and will be able to identify gaps or overlaps in coverage.
- Simplifies the claims process — especially when filing a claim that impacts more than one policy type. For example, if a fire damages both your home and vehicles/recreational vehicles in your garage, you can file and manage your claim in one place.
Bundling is a convenient and easy way to streamline your insurance coverage! Contact us today to get started.
