Some things go better together, like peanut butter and jelly or cookies and milk. The same holds true for your home and auto insurance. If you want to make sure that you, your loved ones, and all of your belongings will be safe, then getting insurance is essential for providing the security you need to keep your peace of mind.
Both your home and auto insurance policy should be able to cover any costs associated with an emergency, so that you don’t have to take on any unexpected expenses. When it’s time to shop around for your insurance, you should conduct adequate research before you commit to any policy to make sure that you understand what it covers.
Many insurance companies will not just offer one type of insurance. Most of them will be able to provide you with both auto and home insurance, among other types of coverage. In most cases, bundling the two policies together with one company is a great idea. Many homeowners are unaware that their home and auto insurance can be combined under one policy. In this article, we will discuss how bundling can provide you with many different benefits.
What is home and auto insurance bundling?
Insurance bundling is when you have two or more types of policies from the same insurance provider. Typically, many companies will offer you a discount if you choose to bundle your insurance with them.
Why bundle your home and auto insurance?
There are many different reasons why you should seriously consider bundling your home and auto insurance together. Here are 5 reasons:
1. Enjoy lower premiums
You need insurance to protect the things (and people) that you care about. No matter who you are, everyone enjoys a good discount or deal, especially on recurring expenses like insurance. By bundling your auto and home insurance together, you can do yourself a favour by reducing the overall premium on your policy. Many companies will give you a discount or special offer when you do this.
One such discount is known as the multi-policy discount, which you will receive when you combine your home and auto insurance and buy the two as a bundle. In some cases, bundling your policies could save you up to 20% on your insurance premiums.
2. Helps you save time
Dealing with multiple different insurance companies when you need to get details about your policies or even just changing your address can be a huge hassle. Having to work with one company for your home and another for your auto insurance can make things twice as time consuming. Why deal with that when you can simply get all of your insurance from one provider?
To make things even easier, you can choose automatic payments. This means that you will always pay your bill on time, and you won’t have any gaps in coverage each month. Even if you don’t decide to set up auto payments, when you bundle your insurance, you will only need to make one monthly payment.
3. Deal with only one deductible
Another benefit of bundling your home and auto insurance is that you will only need to pay one deductible if you make a claim, which involves both your home and vehicle at once. For instance, let’s say a huge storm sweeps through your city, and your property and vehicle become flooded or otherwise damaged, you will most likely only need to make one deductible payment before your insurance pays out.
However, if you need to deal with two insurance companies, then you must pay two different deductibles. This can make an already stressful situation even harder, especially if you are going through an emergency and are trying to return back to normal life.
4. Extra coverage or added features
In addition to the advantages that we mentioned above, your insurance provider might also be willing to throw in some other perks for bundling your insurance policies. For example, they might offer you some extra liability coverage on your home or vehicle. This puts you in one of the best positions to protect your property, belongings, and your vehicle all from one convenient policy.
5. Coverage even in a high-risk area
If your home is located in an area that is considered “high-risk”, then you might find it harder to get the right coverage for it. High-risk areas are any locations that can experience extreme weather events like storms or wildfires frequently, or areas that have high crime rates.
If you choose to take out several policies with the same insurance provider, then they will be less likely to cancel your home insurance should anything happen. If you own a home in a high-risk area, then you have better chances of finding and keeping your home insurance policy if you bundle with the same company.
Bundling your auto and home insurance is a great way to make your life easier, and with many of us living in the fast lane, dealing with insurance in this way can help free up your time and mental space for more important things. You won’t need to deal with multiple insurance companies and representatives should an emergency arise, too.
By only dealing with one insurance company and representative who knows your unique circumstances, assets, and what you need from them, you will be able to secure the best premiums, rates and discounts.
Contact Marathon Insurance today for more information about bundling your home and auto insurance. Call us at 905-707-0084 to get the right insurance coverage for you.