bundling home, auto and life insurance costs

How to Cut Insurance Costs: Use a Broker & Bundle Coverages

If there is one thing that we are all subjected to, it’s insurance ads on television.

You’ll see commercial after commercial about car insurance, life insurance for the over-50’s, home insurance in case of fire or flood and car insurance that’s “cheaper than ever before.”

The variety of insurance coverages out there today are vast, and you may also see advertisements talking about insurance “bundling,” which for some people is an entirely foreign concept.

Insurance isn’t always cheap, especially if you have several types to pay for each month, which can add up.

Bundling your insurance, however, can combine your insurance products with one company and allow you to make one payment to that company.

It can also mean some discounts for each policy to entice you to use their services.

Therefore, the more insurance you buy, the less it will cost you.

When bundling insurance, many people use an insurance broker for this service rather than going directly to an insurance company.

You’re busy – so why not let someone who knows what they’re doing and has your best interest in mind, find you the best deals and set your insurance up for you?

If you haven’t considered using a broker before, it pays to research the benefits before you choose anyone specific.

Benefits Of Using A Broker

It may seem simple to go directly to the insurance companies, but brokers are well versed in finding the best possible deal.

They are trained to lower your insurance costs and make it simpler for you.

Some benefits of using a broker include:

Saving Money

Insurance brokers have the time to trawl through the information that they have for the best price for the insurance.

They can compare the entire market, from the big insurance names to the small ones that you may not have thought of to get you the right level of coverage.

You may want insurance across a range of products, from home insurance to contents coverage, or car insurance to life insurance.

These policies will make life easy for you and save you money at the same time.

Insider Knowledge

The information you get about your insurance policy will be different compared to the information that an experienced broker would receive.

They have better access to a vast range of products that you would miss out on, and they can compare the insurance costs that you may not have considered.

They know the market, and they know how to negotiate the best deal.

Life Stays Simple

You’re busy, you’re working, and you don’t have time to read through dozens of insurance policies to get the best deal.

Brokers can explain things in a way that dispenses of all the jargon, giving you the best, most honest picture of your insurance options and the costs associated with them.

A Professional Service

From start to finish, you will deal with a professional service.

Brokers will always give you a breakdown of the insurance options so you can understand it.

They’ll outline their policies and offer you their professional opinion about which insurance policies to use.

Choices

With the help of a broker, you are no longer limited to a product range with one insurer.

Brokers can offer you a choice in the market that a direct insurance company cannot provide you.

With their help, you get a vast range of insurance choices with no need to contact each insurer individually.

Why You Should Bundle Your Insurance

One of the best ways to cut your insurance costs is to bundle your insurances with the help of a broker.

Bundling insurance comes with a range of benefits, and we listed these for you below so you can make a better decision.

Account Reviews

With the right broker, you will have an insurance review every two years.

When you complete your survey, you will find that it’s quicker to do this with one broker than it is to do this across a range of insurances.

Your policies being bundled gives control to one insurance company over all others.

They’ll help you choose and consolidate the best options for billing.

Combined Deductibles

When you get insurance, it often comes with out-of-pocket expenses, known as deductibles.

When you put your insurances together, you can claim on them all, but only pay one deductible instead of two or three.

If a storm hit a tree and fell on your house and your car, you would have to pay out the deductible of $1000 for the home insurance, plus the money you would pay on your vehicle.

With combined insurances, you’d only have to pay for the home deductible, which saves you money!

Instant Help

Time is money.

You want to get your insurances covered now and not later, and yet you don’t have the time to offer your insurance options.

When you use a broker to help you combine your insurances, you can save your time and get instant advice from the experts.

They do the shopping for you, which means you don’t have to worry about whether you are getting a good deal.

Money, Money, Money

The best reason to bundle insurance is in money-saving.

Paying out each month for insurance can be expensive, but when you get all of your insurance from one place, you pay less into each policy.

This saves you money from the moment you engage with your broker.

No Coverage Gaps

An insurance agent completes a risk assessment for you without the information being confusing.

You won’t have any gaps in your insurance coverage, and not having your insurance policies in one place will set you up for gaps that leave you penniless in an event something goes wrong.

With one person in charge of all of your insurance options, you can feel happier knowing that someone else is in charge.

You won’t be panicking about owing money to anyone if something isn’t covered, and this can make a big deal to your bank account and your ability to save enough money on your insurance.

Security

Combining your insurance policies offers you better security, which can make you feel happier and safer in your decision to combine.

There are some who won’t find it as beneficial to combine insurance, but most can relax knowing that their insurance is optimized.

Currently, 35% of millennials do not bundle their insurance policies, and this can be remedied with a conversation with the right broker.

If there is such dissatisfaction in current insurance policies, then there has to be a change made to get the same security levels across the board.

Bundling Makes Sense

Most insurance companies who offer more than one insurance will talk you through the security that you get with bundling insurance policies.

They will explain that bundling can save money, and with choosing their options, they’ll be able to cover you through all your gaps in insurance.

The insurance that you can buy varies, but that doesn’t mean that you shouldn’t ensure that you are covered as much as possible.

You want to ensure that you are fully covered at all times, as you cannot predict when things could go wrong for you.

With a broker working on your behalf, you have an expert who can give you an accurate representation of what insurance you need and how you can remain covered.

It would help if you had someone who understands insurance and how bundling policies is a good thing for you.

Bundling your insurance policies makes sense for your time and money.

Contacting your local insurance company will mean you are in touch with an agent who can shop around for you and ensure that it covers you for a range of insurances.

Insurance has to make sense for you and your family, and what you need may differ from what others need.

The right broker will look at all your options and ensure that – no matter what – you have what you need for coverage to be reliable.

You are handing the time you would spend looking yourself over to someone who is an expert, and that will mean that you can maximize your discounts, and not all companies are created equal.

Finding the right one is vital if you want the best service with the correct cost.

Choosing the right agent will be just as important as ensuring that you have the right insurance policies to enable you to cut your insurance costs down without compromising on your needs.

Using a broker and bundling your coverage will help you keep your insurance under control.