Should I Bundle Insurance Policies?

In the insurance world, there's a lot of talk on how bundling your policies can save you money. Bundling is a strategy where you buy multiple insurance products through the same provider. It could be grouping your auto and homeowners insurance into the same policy, or home and boat, auto and motorcycle, or another combination of plans.

It's often cheaper to buy through one carrier instead of buying individual policies from different companies. Insurance companies will usually offer a generous discount if you take out two or more policies with them, helping you to save money without compromising on coverage.

Bundling has other advantages besides cheaper insurance:

• You deal with only one insurance company.
• You may be able to manage your policies online at the same place or through the same agent.
• It's easier to identify gaps in your coverage.
• You may be able to align the renewal periods and effective dates of both policies or combine your billing statements.

While bundling certainly has its benefits, there are some circumstances in which it is wise to question whether it is the best option for you. If you're going about it just for the discount, it may be for the wrong reason. Here's when it might not be the best idea:

• When bundling reduces your insurance coverage - Your auto insurer may suggest you to bundle your current policy with a home policy, but it could mean canceling a perfectly good home insurance policy with good rates. Always look at the coverage options as well as limits and deductibles to ensure it's a good switch.
• When it stops you from shopping around - Naturally, it's wise to go to your current insurer to see what they can offer you in terms of bundling policies. However, this shouldn't be your only point of reference. Shop around and ask for quotes from different insurers, comparing quotes and coverage before making your final choice.

It's important to have a comprehensive policy that includes the right coverages, limits, and deductible right for you and your family. For the home and auto insurance that best suits your needs, visit Jack Stone Insurance Agency, serving Brentwood, Antioch, and surrounding metropolitan areas of California.