Many American drivers never change the auto insurance policies, which their parents had. Many even never ever think of switching. Who are these people? Are you one of those who thinks it’s better to work to maximize the income than to sit idle and brood finding ways to save? Perhaps yes. But what if you’ve got a restricted budget, and always look to save money on your insurance premiums?
What options do you have explored so far to reduce your insurance costs? Whether it’s home, auto, or life insurance, getting the best possible price is what everyone looks for. Unfortunately, there are millions of people who’re overpaying on both home and auto insurance just for one reason - they don’t bundle their policies from one insurer. Simply combining your policies into one plan and getting it from one insurer can save you huge.
Though almost every insurer offers this plan, since you are already having your home and auto policies from different insurers, you need to find out which provider offers your better savings. There is no doubt that price is one of the major determinants; however, you also need to weigh other factors like discounts, customer redressal, and reputation of the firm.
How much do you actually save?
Getting your policies from a single roof will definitely save you money. But the question that everyone keeps on asking is how much. Well, though there is nothing definite and it depends on many factors like the insurer you choose, the place where you live, your driving history, the total value of your home, and so forth, most people get an approx of 15% of saving on each policy. This is undoubtedly a substantial gain if considered the negligible hassles you face to switch over. However, life becomes easier if there is an agent who does stuff for you.What are the advantages of combining home and auto insurance?
Apart from the money gains, there are also a number of less thought of benefits that combining your policies offer. They are:1. One contract to sign: If you are bundling up your policies and taking it from one insurer, things become much easier on your end as you’ll only have to sign a single contract with one insurance company. This is really convenient as you’ll only have to go through and review terms and conditions of one contract. Thus, you can save both your time and money.
2. One payment to make: The best thing about bundling up your policy is that you will only have a single monthly premium to make for both forms of insurance. Undoubtedly a single payment coming out of your account in a month is easier to track.
3. One renewal to do: Another advantage of combining your policies is that you will have to renew a single policy each time. Thus, you review your contract, compare quotes, and sign only a single contract.
4. One place to contact: If you have any question, grievance or need to make a claim, you know there is only a single person or company to contact. It’s good when you only have to reach out to a single person for all your insurance needs.