How to Bundle Insurance

If you’ve spent any time at all shopping for home, auto, business or car insurance, you’ve probably heard an insurance representative talk about insurance bundling and bundling discounts. Insurance bundling is simply the process of buying multiple types of insurance through a single insurance carrier.

Insurance companies want to encourage customers to purchase as many policies as possible, so rewards and discounts when you bundle multiple policies together at once. But does bundling insurance actually save money — and how can you get started? 

Our guide will help you learn more about insurance bundles and how you can bundle your insurance policies together. 

Step 1: Assess Your Current Coverage

The first step to bundling your insurance is to take stock of your current coverages. If you have multiple types of insurance from different providers, you might need to drop 1 insurance company in favor of another. Take a look at the coverages that you currently have and decide which types of insurance policies you’d like to bundle together.

You should also make careful note of all of the costs associated with your current policies, including premiums, deductibles, claim limitations and more. Knowing the ins and outs of your current policies will prevent you from accidentally choosing a more expensive policy choice than what you already have. 

Step 2: Compare Quotes From Competing Insurance Providers

Every insurance company uses its own unique formula to determine how much you’ll pay for insurance. Some of the factors that might include what you pay for your insurance coverage can include factors like:

• Where you live
• The type of business, vehicle or home that you’re insuring
• Your claims history

This variation in pricing can mean that it’s possible to find the exact same level of coverage from 10 different insurance companies with 10 completely different quotes. Taking some time to collect quotes from a few insurance companies offering the bundles that you need can help ensure that you’re getting the best possible price. 

Step 3: Contact the Insurance Company You Want to Work With

When you find a company that you want to work with, reach out to a representative and request assistance enrolling in a new policy. Though many insurance companies now allow users to enroll in a policy completely online, you might want to speak directly to a representative to ensure that you’re taking advantage of every possible discount available to you through your new insurance company. 

Building a relationship with your insurance representative can also be beneficial if you ever need to file a claim or if you find a better bundle with another company. 

Benefits of Bundling Your Insurance

There are a few benefits that you’ll be able to take advantage of when you bundle your insurance policies together with a single company. Let’s take a look at some of the reasons why you might want to bundle your insurance. 

Bundling Can Save You Money

Insurance companies are motivated to retain customers because it’s more expensive to find a new policyholder to sign onto a plan than it is to keep an existing client. Insurance companies almost always provide bundling discounts that will save you money on both types of insurance compared to what you’d pay for each policy individually.

If you already have a type of insurance that you’re satisfied with from a major insurance provider, contact the company and inquire about adding a bundled insurance package to your existing plan. Your representative may be able to offer you a deep discount on coverage — especially if you’re also searching for quotes from competing companies. 

Bundling Can Make Your Policy Management Easier

If you’re looking for a simple way to manage all of your insurance policies, bundling is an excellent option. When you bundle insurance policies, you work through a single company that you’re already familiar with and who already stores your account and payment information. 

You’ll work with the same representative in most cases, and you’ll also be able to make premium payments through your existing web portal. If you run into an issue with your insurance, you also know exactly who you need to call to find a solution.  

Bundling May Decrease The Chance Your Insurance Will Drop You

When you develop an existing relationship with your insurance company, the insurance provider understands your track record, claims record and your history of making your payments on-schedule. 

If you get a ticket or need to file a claim and you have a proven record of timely payment and proper policy usage, your insurance company may be less likely to drop you or significantly raise your rates if you do need to file a claim in the future.  

Is Insurance Bundling Worth It?

Though you can often save money by bundling insurance policies together under a single provider, you should not assume that bundling always means savings. As we mentioned previously, every insurance company decides which factors it will take into consideration when they choose a premium rate for each of your policies. 

If you didn’t do your homework before you chose your original policy (or if you haven’t been regularly checking up on how rates might have changed) you could actually end up paying more for your insurance overall when you bundle with the company that’s charging you more than necessary. It’s a good idea to collect a few quotes from competing insurance providers before you decide where you want to get your insurance coverage. 

What Can You Bundle in Your Insurance?

When you bundle together 2 different types of insurance, you sign onto a policy that provides you with 2 types of coverage from the same company. Though bundling homeowner’s insurance and auto insurance together is the most common bundling method, many insurance companies allow you to mix-and-match your coverages to fit your unique needs. 

Some additional types of insurance that you might be able to bundle include:

• Boat insurance
• Business insurance
• Renter’s insurance
• Condo insurance
• Life insurance
• RV or mobile home insurance

Check with your insurance provider to learn more about the unique types of coverage offered in bundling packages.  

Tips for Better Bundling

If you decide to bundle your insurance, use these tips to get the most out of your package plan.

• Don’t be afraid to get multiple estimates. Working with multiple insurance companies to get quotes ensures that you don’t end up overpaying for your coverage. We recommend getting quotes from at least 5 independent insurance companies before you make your final decision.
• Consider your deductible. If you’re searching for an easy way to lower the cost of your insurance even more, consider asking your representative if you can choose a policy with a higher deductible. Though a higher deductible means that you’ll pay more if you need to file a claim, it also means that you can usually save money on monthly premiums. When combined with your bundling discount, this simple step can make your insurance significantly more affordable.
• Refresh your estimates often. Insurance costs are constantly changing as companies adjust their premium calculations. We recommend collecting new quotes for your insurance at the end of each of your policies to ensure that you’re always getting the best prices available to you. 

Best Insurance Companies with Bundle Plans

Though you’ll be able to find a comprehensive bundling plan with almost any insurance company, some insurance providers offer better discounts and more insurance types available for bundling. 

Browse a few of our favorite insurance companies for bundle discounts below. 

Should You Bundle Your Insurance? 

From Medicare supplemental plans to car insurance, it pays to shop around when you choose your coverage. Most insurance providers now allow you to claim a quote online, and you can get started with a new plan in as little as 5 minutes in many cases. 

Taking just a few hours to compare quotes across providers can potentially mean thousands of dollars saved each year. 

Frequently Asked Questions