From cell phone contracts to Internet packages, bundling is a popular way for companies of all kinds to hook you into multiple services, usually at a discounted price. If you have been in the market for a new insurance plan, if you are talking to an agent or searching online, you have probably come across the terms “bundled insurance” or “multi-policy discount”.
To bundle insurance simply means to purchase several policies for example, home and auto from the same company in exchange for a reduced rate. Bundling discounts can be all over the map, ranging from 5% to 20%. Bundling your home and auto insurance will get you a bigger discount.
Bundling packages do not just apply to home and auto insurance. Some companies will offer modest discounts if you add a motorcycle or boat to your home policy. If you don’t own a home, combining your renter’s insurance with your auto insurance is also an option.
Prices and discounts will vary, based on the type of policy, where you live and other factors. This and the fact that you only have to work with one agent for all your policies has made the concept of bundling more convenient.
If you have questions about bundling, call us at 847-907-4520 or contact Frimark/Keller & Associates today.