Call Us CALL US TODAY | 352.332.0180
Auto Insurance PERSONAL AUTO
Auto Insurance COMMERCIAL AUTO
Homeowners Insurance HOME
Business Insurance BUSINESS
Toy Insurance TOYS
Contractors Insurance CONTRACTORS

Multi-Line Discounts May Save You Hundreds of Dollars a Year

Looking to save money on your insurance premiums every month? You should consider taking advantage of multi-line discounts. 

Many insurance carriers offer significant discounts for customers who place multiple types of insurance with the same company. In some instances, annual savings may amount to more than $300, according to a new survey by Quadrant Information Services.

The insurance information firm recently took a state-by-state look at the savings consumers could realize by bringing multiple personal insurance lines together under the same roof - a practice known as "bundling."

Savings varied by state, as well as the type of insurance policies being bundled together, but the results were clear and unambiguous: On average, consumers in all states were able to save money by bundling.

Bundling homeowner's and auto insurance

The best results came from bundling auto and homeowner's insurance with the same provider. On average, this saved consumers $322 nationwide, for a total savings of 16% of annual premiums for these lines.

Bundling auto and condo insurance

Bundling auto and condo insurance likewise lowered premium costs - by an average of 11.6% nationwide, the study found.

Bundling renter's and auto insurance

It's not just homeowners who can generate savings through bundling. Renters also realized a nationwide average savings of 8% when they combined their renter's and auto policies with the same carrier.

Why does bundling work for carriers?

Insurance carriers offer these discounts for a variety of reasons. It's expensive for insurers to attract a new customer, and carriers are constantly trying to compete for business.

But adding an insurance line to an existing customer is much less costly for carriers than the marketing and sales cost of bringing on a new client from scratch - so it's possible for them to pass part of those savings on to the customer.

Insurance carriers also know that the more types of lines a given customer has with a carrier, the longer they stay with them.

Other benefits

Bundling multiple insurance policies with the same carrier also simplifies your financial life, say experts. Not only can you save money, but you also have fewer bills every month, and fewer checks to write or electronic drafts to keep track of.

How to realize your savings

Call us and ask if any of your insurers offer multi-line discounts for bundling. We can provide estimates for placing your other types of insurance policies with each of them

Thank you for visiting the Partners Insurance Agency blog. We hope you found our content helpful and informative.

Share |


No Comments


Post a Comment
Name
Required
E-Mail
Required (Not Displayed)
Comment
Required


All comments are moderated and stripped of HTML.
Submission Validation
Required
CAPTCHA
Change the CAPTCHA codeSpeak the CAPTCHA code
 
Enter the Validation Code from above.
NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive


View Mobile Version
Facebook
Twitter
LinkedIn
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
Carriers
© Copyright. All rights reserved.
Powered by Insurance Website Builder