Go to any Costco or Sam’s Club and it’s easy to see the popularity of buying in bulk. Even fast food restaurants and your local cable company offer bundles. It is a great way to save money on goods or services you know you’ll need to buy down the road. (I do wish the cereal came in smaller packages, but that’s another story.) Did you know you can also save money by purchasing your auto and renters insurance in bulk?
Insurance in bulk may seem like a foreign concept to some, but you may have heard of it by another name: bundling. Some companies will give you a discount if you bundle two or more policies, like auto and renters insurance. Think of it as a loyalty bonus for working with them consistently. But, bundling insurance has other advantages as well.
Shop around when you look for auto and renters insurance bundles
There’s no shortage of options for bundling your auto and renters insurance. If a company offers both, there is a likelihood that they have a way that you can bundle and save money. Here are some of the companies where you could bundle your policies:
- Liberty Mutual
- State Farm
This is hardly an exhaustive list of insurance companies that offer bundling options. It’s likely your local insurance agent or independent company offers can work with you to bundle policies, too. If you already have a renters insurance policy or a car insurance policy, the best thing you could do is call your agent and see if there are options for bundling auto and renters insurance together at a lower rate.
Milking the advantages of bundling your insurance policies
If you’re already looking for ways to take advantage of some savings in your insurance prices, you might as well milk it for everything it’s worth. If you appreciate your agent and love the working relationship you have, there is a likelihood that you will want to stay with him or her. If you don’t, this is an opportunity to search for an agent that you like and trust so that you can get all of your insurance needs taken care of in one place. By bundling as much insurance as possible with one agent, you won’t have to worry about dealing with anybody else but that person you already appreciate.
You can save on other types of insurance besides auto and renters. For example, you may be able to get savings on a personal umbrella policy if you are interested in one. An umbrella policy covers instances of personal liability that other insurance policies may not. Some companies offer pet insurance, additional insurance for high-priced collections, and pretty much anything you can think of that you may want to insure.
Bundling everything with one agent streamlines the entire process, and is a popular way to save money on your insurance premiums.
Have you saved by bundling auto and renters insurance together? How about other combinations of insurance?