Saving Money on Your Homeowners Insurance

Save money on your homeowners insurance by “bundling” when you have more than one insurance policy with a single company. This is done primarily for the purposes of customer convenience and savings. With insurance companies offering an array of products to provide protection against the cost of losses to the things that customers value most, it can be difficult to sort out what coverage you need and from whom to purchase it. Here’s a closer look at the concept of bundling, why it may make sense for you and where to find guidance to help ensure your most valuable possessions are properly covered in case of theft or damage.
What is Bundling?
Bundling means you are buying two or more types of insurance policies such as home insurance and auto insurance from the same company. It can be an effective way to get insurance discounts, because insurers typically offer price savings when you buy multiple policies from them. Compared to purchasing policies from separate insurance companies, most people save money when they choose to bundle multiple policies under one insurer.
What Are the Advantages of Bundling Insurance?
There are a number of advantages to bundling your homeowners insurance with other insurance policies. By purchasing your home insurance and auto insurance from Travelers, for example, you may be able to save as much as 15 percent on your home insurance premiums compared to what it would cost you to buy those policies individually from different companies. But the benefits can go beyond the financial, says Angi Orbann, Travelers Vice President of Personal Insurance/Property. The convenience of combining policies and payments with one insurance company can be a major advantage. “In addition to potential cost savings, customers choose to bundle their policies for many reasons, including time savings and efficiency,” Orbann says.