Because Canadians, especially those in Ontario, can pay a lot for home and auto insurance, they are always looking for ways to save money on their insurance needs. One money saving method that typically yields positive results is bundling your insurance needs. Put simply, bundling refers to when you have both your home and auto insurance insured with the same provider, under one policy. More often than not, bundling your insurance needs will lead to discounts on both your home and auto insurance. Here are three reasons to bundle your home and auto insurance.
Combining your auto insurance policy with your home insurance policy is one of the easiest ways to save on your premiums. Often, the premium for your car or home is more expensive at a company if priced separately, and cheaper with the same company if bundled. Think of it like shopping at Costco; when you buy in bulk you get it for a cheaper price. The more policies you have, the better the discounts. Usually, you can save about 10-15% your policies by bundling.
Another advantage of bundling your home and auto insurance is it will give you the convenience of having only one insurance company handling your policies. This simplifies your life, leading to less hassle and eliminating the need to communicate with different brokers. Plus, automation is king. When you sign up for auto-pay, your payments will be done automatically without you having to worry about it. You don’t have to worry about paying regularly and on-time as it is on automation. This way, you’ll ever miss a payment, your coverage will always be in effect, as an added bonus, you can often receive a discount for paying in this manner.
As mentioned earlier, when you have the same insurance company handling all your insurance needs, you just need to contact one person when you have a question or a problem. Additionally, you can say goodbye to large amounts of paper work and the need to call numerous telephone numbers, as you will be dealing with only one company. When you bundle your home and auto insurance, you avoid the tasks mentioned above, and you will spend less time sorting through each policy. Furthermore, you can have a peace of mind knowing that all you have to do is call your broker who is very familiar with you and your policy needs. The bottom line is you will save more time, and let’s not forget, time is money.
How to bundle
Talk to your insurance broker about bundling opportunities with your provider. If you are not satisfied with the discount available to you, it may be in your best interests to shop around for alternative insurers. The most effective way to ensure that you get the best possible bundling deal is to shop around for both home and auto insurance and see what various providers are able to offer you.