What Discounts Are Available For Bundling Your Insurance?
A surprising number of people simply choose to use the same insurance company as their parents which means that oftentimes there’s a lack of insurance shopping. Moreover, it seems that the only time some customers look further afield is when they’re shopping about for lower rates. These shoppers can end up with their car insured with one company, their home policy with another, and so forth.
From this comes a tangle of insurance companies, policies, bills, and an endless onslaught of mail. In short, it can lead to quite a headache for policyholders and insurance companies alike.
Insurance companies offer discounts as an incentive for their customers to bundle multiple insurance products together. These bundle discounts help to lock-in customers with the insurance company which oftentimes extends the amount of time those policyholders stay with that company. And fortunately, these bundle discounts are additive. This means that you’ll often save more money with each additional type of insurance policy you purchase from the same company.
Bundling Home and Auto Insurance
One of the easiest and most common ways to save money on insurance is by bundling your home and auto insurance with one company. On average, this bundling option can save you anywhere from 10 – 20% on your overall premium. When adding a life or umbrella policy to that auto and home bundle, it isn’t uncommon for that bundle discount to get as high as 35%.
How can insurance companies afford this?
These deep discounts can result in a significant reduction in premiums for insurers. So how can they afford to discount these policies so much? In short, economies of scale kick in since, overall, they’re making more money from each bundled customer. The alternative would be to write more customers with only one type of insurance policy which would require additional time, effort, and staffing. The benefit to insurers of offering significant bundle discounts more than outweighs the expenses associated with trying to write more single policy customers.
The best way to take advantage of these bundle discounts is to contact a licensed agent in our office. We can assist you with assessing your insurance needs and provide you with some quotes from several of the top insurance companies.
Get A Quote For All Of Your Insurance Policies Today
Our licensed staff is ready to help you get multiple quotes for your auto, home, life, and other insurance products. Because we’re an independent insurance agent we can shop from multiple insurance companies to help you find the right coverage at the right price.
A Accelerated Auto Insurance was founded in 1992 by a group of independent insurance agents. Their vision was to provide affordable auto insurance rates to all customers regardless of driving record or credit history. This vision allowed them to quickly build a large, loyal customer base. In 2006 Jared Fuller began his career with Accelerated Insurance as a customer service representative. Over the next 10 years Accelerated expanded its reach to offer home and business insurance in addition to auto. In 2015 Jared’s wife, Cristy Fuller, also started working for the company. During the year 2016, they became the sole owners of Accelerated Insurance. Advances in technology allow Jared, Cristy, and a small staff to continue to grow while still providing excellent service to their existing policy holders. They continue to maintain the same vision of savings and service for Northeast Louisiana.
