Insurance plays a big role in today’s society. There is insurance for just about everything, with common types being anything from home owner’s insurance, renter’s insurance, and vehicle insurance to health insurance or life insurance. Insurance acts as a buffer against the unknown.
Things happen in life, and sometimes our expenses cannot cover them. A car accident, your house is burning down, getting sick. Things happen that we cannot control, and insurance comes in to help cover those unexpected expenses. But the cost of having insurance can sometimes be just as hard as paying for any damage that might happen.
Because of those costs, people are always looking for ways to save. The best way to save is to Bundle all Insurance Policy’s together. By bundling services, you can often get many different benefits, depending on your insurance company. These benefits and a decrease in cost can make your insurance way more affordable.
Many of the larger insurance companies will offer a variety of insurance policies such as home insurance, car insurance, and health insurance. That is why they will offer those benefits and discounts for bundling your services. It encourages you to bring all your business to them. The most common insurance bundles are your car and home owner’s insurance and for more information on this approach, visit https://www.nerdwallet.com/article/insurance/bundling-home-and-auto-insurance.
So instead of getting health insurance from one company, auto insurance from another, and home insurance from a third company, it encourages you to get all three at one company for the discounts. That is why you should Bundle all Insurance Policy’s together.
The discounts and benefits offered to differ between insurance companies. Some companies will offer better discounts than others, so you should probably shop around to see where you can get the best deal without sacrificing the benefits of the actual insurance plans.
While the discounts differ between companies, there are some constants. For example, you can expect to save upwards of 10% by simply bundling your services together. Some companies will even discount other insurance policies if you bundle with them.
With so many insurance companies out there constantly battling each other by lowering their rates, you may be left wondering what to do if another company is offering lower rates than what you are paying now. In cases like this, people will often go with the lower rates instead of bundling their services, thinking it will save them money.
But that is not the case most of the time. If you have, say, home owner’s insurance with one company and auto insurance with another because it had lower rates, you might be paying more. Suppose you Bundle all Insurance Policy’s with a single company, even if their rates are a little higher. In that case, you might still be saving more money than if you had split between two different companies.
Now whether or not that holds for you depends entirely on your circumstances. The premiums of insurance change depending on your circumstances, so even bundling your services together may not be enough to save you money. But for the most part, it is strongly advised always to bundle services to save yourself as much money as possible.
Insurance is nothing more than risk management. The solution is to self insure or purchase insurance to manage the risk of damage or loss. As a Registered Financial Consultant, we can help you assess your insurance needs and properly manage that risk. If you are in Nashville, Tennessee, or wish to speak with us, please contact us directly.
