Is Bundling Insurance Worth It? Here’s What You Should Know

As life changes, so do your insurance needs. As a young college student, you may have only needed auto and renters insurance. Later on, you purchased your first home and swapped your renters policy for homeowners insurance. Now, that may have grown to include insurance for a business, an umbrella policy, life insurance, coverage for a boat or RV, and more.

How do you keep track of everything? Do you have multiple insurance agents and different insurance companies? Or is everything with one agent?

It can take a lot of time and energy to manage your insurance, especially when you’re dealing with several providers. Keeping your insurance policies with one agent can simplify insurance tracking and offer these important advantages:

The Benefits of Bundling Home and Auto

• Discounts — One of the biggest benefits of bundling home and auto insurance is the potential for discounts. Many insurance companies offer savings for customers who bundle policies. The exact discount varies by provider but generally ranges between 5% and 25%.
• Single deductibles — If a loss affects more than one policy, some insurers allow you to pay only a single deductible. For example, if a severe storm damages both your home and your vehicle, and you carry both policies with the same provider, you may only pay one deductible instead of two.

Why Is Bundling Insurance Worth It?

• Convenience — Bundling policies together means fewer bills, less paperwork, and easier access to your coverage details. It’s a practical way to simplify insurance tracking and stay organized.
• One point of contact — You only need to call one agent when you have questions or need to make updates to your coverage, making service more streamlined and personal.
• Less chance of dropped coverage — Insurance companies are less likely to drop coverage due to multiple claims if you have several policies bundled together with them.
• Eliminates gaps in coverage — When one agent oversees all your policies, they can identify and fix any gaps or overlaps, ensuring you have complete and coordinated protection.
• Simplifies the claims process — Especially when an event impacts more than one type of policy. If a fire damages both your home and the recreational vehicles in your garage, bundling lets you manage that claim more efficiently.

Types of Insurance Policies You Can Bundle

You may be surprised by how many coverage options can be combined, depending on the provider. The types of insurance policies you can bundle often include:

• Auto insurance
• Homeowners or renters insurance
• Umbrella coverage
• Boat, motorcycle, or RV insurance
• Landlord policies
• Life insurance

Your agent can help you decide which policies are best to bundle based on your needs and the potential savings available.

Bundling is a convenient and easy way to streamline your insurance coverage. Whether you’re new to insurance or looking to consolidate an evolving portfolio, bundling can help you stay organized, save money, and ensure your policies are working together.

So, is bundling insurance worth it? For most people—absolutely!