Many insurance companies offer the chance to bundle coverages. This is where you purchase more than one type of insurance from the same carrier. Bundling home insurance and auto insurance poses distinct advantages over buying them from separate companies.
What Are the Features Of Home Insurance?
Home insurance is designed to give you financial protection in case your home is damaged in a catastrophic event (fire, collapsing from heavy ice or snow, storms, etc.) or if you are sued after someone gets injured on your property.
This coverage will insure your home’s structure, as well as your personal possessions. Home insurance will disburse funds needed for repairing your home and provide additional living expenses on your behalf, such as hotel stays and meals at restaurants.
What Are the Features Of Car Insurance?
Every state in the U.S. has a minimum amount of car insurance that every driver has to carry by law. For some states, this could be coverage for bodily injury and property damage liability. Other states may require liability and personal injury protection coverage. However, it is better to go beyond what is required to get to be covered in various situations. Comprehensive coverage, for instance, may not be mandatory, but it is a good idea to include it in your auto insurance coverage because it will protect your vehicle from damages that occur off the road – including theft. Regarding car insurance, you want your coverage to be as extensive as possible, so you’re not left stranded.
What Is The Financial Benefit Of Bundling Coverage?
The overall reduced cost is the primary benefit of bundling home and auto coverage. Companies incentivize bundling by slashing the overall cost upwards of 25% and beyond, automatically making the alternative of getting policies from separate companies more expensive.
Your insurer may also give you additional discounts for other types of insurance after you’ve bundled your coverage. If you’d like to add a motorcycle, RV, or life insurance policy, you’ll be able to get savings on that, too.
How Does Bundling Coverage Protect Me?
Bundling coverage helps you keep your policy in place in instances that would otherwise lead to you losing coverage. Filing too many claims, for example, causes people to get dropped by their insurance carriers. However, insurers are more forgiving when you have multiple policies from them. You’re less likely to be forced to seek new coverage and endure coverage gaps when you bundle policies.
It’s also more convenient to bundle policies, as your insurer will have a better understanding of what your needs are. This will improve your customer service experience.
Get All Your Coverage For Less
At Hometown Financial Group, we will help you get everything you need for less. We will save you money and time, as you can get everything in one place. Call us today at (919) 887-1236.