What is an Insurance Bundle?
It’s time to bundle up – and it’s not because of the weather! You’ve probably seen the witty insurance commercials and likely have heard phrases such as “bundle and save!”, but what does bundling your insurance mean?
What it means to bundle your insurance.
When you buy multiple types of policies from the same insurance provider, it’s often called a “bundle.” There are many variations of an insurance bundle, and each insurance company has its own way of handling them, but typically you receive a discount for having multiple types of policies with the same company. This is often referred to as a bundle discount, multi-policy discount or a relationship discount, and the more policies you have, the more discount you may be able to receive.
For example, if you have a homeowners policy with Insurance Company XYZ, and then purchase an auto policy, you may get a discount off the bundled price of those two policies. Purchase a life insurance policy from Insurance Company XYX, and you may get an even bigger discount. Typically, the more you buy, the more money you save.
Should I be bundling my insurance?
Not only can bundling your insurance save you money, but it can also be more convenient to have your policies with the same company. One insurance company makes it easier to manage all your policies. Paying your premiums, making changes to your policies and other service-related issues are likely easier to manage from one company rather than multiple policies with multiple insurance providers. So, bundling can be easier.
If the rate and coverages you are getting at another company far outweighs the savings and convenience that bundling your policies with one company can give you, then it may make sense to not bundle your insurance. It is okay to have different types of policies with different insurance companies. So if you’re wondering if bundling your insurance is worth it, do your research to determine what works best for your needs and budget. But remember, the cheapest rate doesn’t always mean the best coverage.
How does bundling your insurance work? And how do I bundle my insurance?
Bundling your insurance works by getting more than one insurance policy from the same provider. Having multiple policies usually gets you a discount on your insurance premium. The more policies you have, the greater the discount. At Alfa®
, we value your relationship with us and are pleased to offer you a discount for that strong relationship. See how much you can save when you bundle your insurance policies with us.
To start bundling your insurance, contact one of our local hometown agents