The term "bundling" is commonly used in insurance today, and it is something you should look into if you are not currently utilizing this strategy. Bundling simply means that you decide to purchase all your insurance needs from one company instead of purchasing policies with multiple companies. If you currently do not bundle your insurance, here are three important things to know.
You will save money
The main reason you should look into bundling all your insurance products is to save money, and who doesn't like to save money on bills? Saving money on bills is a great way to cut back your spending and free up cash you have on hand each month. The amount of money bundling will help you save depends on many factors, but it is not unlikely for people to save up to 15% simply from bundling. This means you can still have the same levels of coverage for your policies, but you will pay a lot less each month for the coverage you have.
In a sense, you could compare bundling to refinancing your car loan. If you can get a different loan that would cut your payments by 15% each month, wouldn't you do that? You would still have the same vehicle, but you would pay less for it.
Bundling will simplify your budget
When you bundle, not only will you save money, but you will also simplify your budget. If you have life insurance, car insurance, and home insurance all from different companies, you would have three different payments to make each month or year. If you bundled the three products together, you would have just one payment to make each month or year. This would make budgeting and bill paying easier and faster each month.
Insurance companies provide discounts because it increases revenues and lowers risk
If you are wondering why insurance companies offer discounts on bundling, the answer is simple. When you bundle, insurance companies get more business. The extra business increases the company's revenues. Additionally, when you bundle, it decreases the risk that you will file a claim, and decreased risks to insurance companies result in money savings to customers.
You can contact an insurance company at any time to request a quote for insurance products. When you do this, make sure you ask for quotes for all the policies you need, as this will result in a discount for bundling. Contact an insurance company today to learn more about this.
Visit sites like http://olynorthwest.com/ to find out more about your insurance options.
Share13 March 2018
I have always been someone who loves to work hard for what they have, which is why I started paying attention to how I was protecting my investments. I realized that although I had great medical and dental insurance, my car needed a little extra protection. I started working hard to find an insurance policy that would work well for my needs, and before I knew it, I was able to sign up for a new policy. This blog is all about choosing a car insurance policy that works well for you and your family, so that you don't have to worry about falling short.