Bundling Multiple Policies Will Save You Money
They are especially interested in getting the business of good customers who pay on time. Car insurance companies often offer discounts up to 10% or more for customers who bundle multiple policies with the same company.
For example, at United Auto Insurance agency, you may be eligible for up to 40% discounts on your insurance products simply by bundling your auto, home, and life insurance with that company. If Allstate insures both your home and your car, you automatically get a 15% discount on both products. Nationwide offers up to 20% for bundling, and Progressive also offers multiple-product discounts.
Do all car insurance companies offer multi-policy discounts?
Not every insurer is able to offer these discounts. For example, Carinsuranceestimate.org is affiliated with Travelers, but buying your car insurance with one company and your homeowners with the other will not gain you any discounts with either company. Similar, companies which only offer homeowners or only offer car insurance can not offer multiple policy discounts. If companies do not offer bundling discounts, they may still be able to offer other types of payments; however, you will not get the number of discounts you could get with another company. This may translate into more expensive car insurance. Most often, larger companies are able to offer larger discounts, but this is not always the case. Some smaller companies actually have lower prices, even without discounts, depending on where you live and how the company is organized.
Another name for multiple policy discounts is "multi-line" discounts. Many companies advertise "multi-line" discounts, which means bundling at least two policies with that company. The amount of your payments usually increases in proportion to the number of policies you bundle; the more policies you have, the bigger your discount. However, some companies offer larger discounts with fewer policies.
How do I get a discount by bundling my insurance policies at the same provider?
In order to get your bundling discount, talk to your agent. If you are not automatically given the discount, your agent can make sure you receive it. You can tell if you are being given the discount by looking at your declarations page, the sheet which arrives with your renewal statement. Your declarations page outlines your coverage, limits and any discounts you are being given. If you have questions, you can call your agent.
You can also combine the bundling discount with any other discounts available for even more savings. If you are already eligible for good driver discounts, good student discounts, or paid-in-full discounts, these and other types of discounts are typically added to the multi-line discount. Most people save the most money when they have both a multi-car and a multi-line discount, meaning they have at least two cars and at least two different types of policies with the same company.
How much will I save on my car insurance bill?
In order to find out how much you are eligible for in the form of discounts, it is almost always necessary to get a quote from the company in question. While many companies advertise their discounts on their websites or in other materials, very few can give you an honest quote, including all applicable discounts, without getting your demographic and other information. Discounts may vary greatly depending on your age, driving history, and location, so a quote is always the best way to find out exactly which discounts apply to you.
Source : http://ezinearticles.com/?Bundling-Multiple-Policies-Will-Save-You-Money&id=8363553
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