Benefits of Bundling Home and Vehicle Insurance

Vehicle Insurance

An insurance cover for your life, properties, and activities is essential for your peace of mind. However, the policies can overwhelm your wallet if you didn’t get more info about them, especially if you have a lot to cover. Most insurance company will try to convince you to cover a lot of your things independently which benefits them more than it benefits you. This is where bundling two compatible products can benefit you too.

However, some things are better insured independently. They become a little bit expensive if bundled together with other policies or become less effective in covering all risks. That’s why you should research what policies work best independently and those that can be bundled.

Two policies that can combine well are home insurance and vehicle insurance policies. Purchasing a bundle that includes a home and vehicle insurance can provide you with some benefits over buying the policies from two different companies.

Saves You Money

You will probably enjoy some significant discounts if you combine home insurance and vehicle insurance in one package. Bundling the two policies will give you a companion discount of about 20% up to 30% of your premiums.

It is also a good option to achieve your financial goal of strategic saving. In case of an accident at your home that affects both your house and vehicle, you will only be obliged to pay a deductible for only one claim. It would be two claims if your house and vehicle were insured separately.

Provides Convenience

Bundling your home insurance and automobile insurance will save you a lot of time and hustle. It becomes easier to manage all of your policies in one basket and reduces the paperwork that would otherwise be doubled and the hassle of talking to different agents for your two covers.

Adjusting the covers also becomes easier. You can easily add riders to your vehicle insurance policy or the home insurance policy.

Offers Unique Product Tiers

Most home or auto insurers offer policy packages for different types of personal property. They give you the option to bundle your policies in one complex package that will make the job easier.  The packages reduce the paperwork, saves you the hassle of having multiple bills, and puts all your policies under one roof where you can pay a single deductible, in case of misfortunes.

Provides A Safe Option in High-Risk Areas

Bundling is common among people who live in high-risk areas. People who live in areas that are prone to extreme weather events, weak geographical areas such as near or on fault lines, or areas that are constantly affected by violence and other crimes prefer to purchase a single package. The package covers all aspects of your property in one policy package.

Many companies are willing to offer bundles to customers from high-risk areas despite the risk on their side. It helps them attract more customers and also keep their loyal customers within their company.

Bundling insurance policies is a smart move for a home and an automobile owner. However, it is important that you read the terms of the package before purchasing first as there are several situations where bundling is not the best option.

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