As part of our ongoing series of articles on saving you money on your insurance coverage, we want to bring you another simple and often overlooked way to save money – Bundling.
McDonald’s made the line “Would you like fries with that?” famous; and in the process set off a marketing trend that now spans well beyond food service. Almost everywhere you go you are now being presented with some bundled offering; whether it is for your lunch or your home TV, phone, and internet service.
So is bundling a good deal for you?
Well, that depends. If the bundle is for something you need or are likely to purchase either way – the answer is almost always yes. It will save you money. If the bundled offer entices you to make a frivolous purchase, however, like a super sized order of fries and a half gallon drink; then probably not.
Most of us already carry several types of personal insurance coverage and are often required to have them, so bundling your insurance makes a lot of sense. These policies might include your Auto insurance, Homeowner’s insurance, Renters insurance, Rental Property, Umbrella Liability coverage, or a policy for your Recreational Vehicles. By bundling these policies together with the same carrier, you can save up to 15% off on all of your policies. This can add up to a significant savings without the need to reduce or change your coverage.
By bundling your insurance, you are helping to lower the cost of servicing your policy with consolidated billing and policy administration. Also, statistics show that insurance customers with multiple policies are less likely to switch or drop coverage. Because of this, the insurance companies are highly motivated to offer you the “best deal” in order to attract and retain customers who maintain multiple policies with them. Additionally, many carriers will offer an additional 10% discount for anyone who pays in full for the year in advance.
If you are interested in learning more about how much bundling could save you, please give us a call at Kaplan Insurance and we will be happy to review your current insurance coverage to see if we can save you money.