{"id":10100,"date":"2024-01-25T05:23:00","date_gmt":"2024-01-25T05:23:00","guid":{"rendered":"https:\/\/www.freeway.com\/knowledge-center\/?p=10100"},"modified":"2025-01-15T14:17:09","modified_gmt":"2025-01-15T14:17:09","slug":"how-bunding-insurance-can-help-save-money","status":"publish","type":"post","link":"https:\/\/www.freeway.com\/knowledge-center\/auto\/how-bunding-insurance-can-help-save-money\/","title":{"rendered":"How Bundling Insurance Can Help Save Money"},"content":{"rendered":"\n

It is your lucky day because insurance agencies offer a discount when you have more than one policy with the company! There are several reasons why insurers give a break to customers who \u201cbundle\u201d or have multiple policies under one roof. There\u2019s many great incentives to consider using this discount of bundling  your car insurance<\/a> and home insurance<\/a> premium \u2013 the greatest of which is putting funds back in your wallet.<\/p>\n\n\n\n

Growing Trend of Bundling Insurance Policies<\/h2>\n\n\n\n

Most insurance companies quickly jumped on the bundling bandwagon… it\u2019s a no-brainer to help clients conserve funds. Nowadays, it\u2019s hard to find a carrier that doesn\u2019t offer perks for bundling insurance<\/a>. As with most everything, there are pros and cons to using this method to save money on your insurance products, and there are also companies that are much better at it than others!<\/p>\n\n\n\n

Let\u2019s jump in and take a look at the best way to bundle insurance.<\/p>\n\n\n\n

Advantages of Bundling Insurance<\/h2>\n\n\n\n

As you now know, there are clear advantages to both the customer and the insurance agency with bundling. For the customer, it comes down to cost savings and convenience. If your car insurance is increasing in 2024<\/a>, this is one way you may be able to still save no matter how the economy fluctuates.<\/p>\n\n\n\n

An insurer will also gain some convenience advantages, such as having a customer\u2019s policies all in one tidy place, which makes communication and administration easier. Additionally, this customer behavior signals loyalty to the brand, meaning it\u2019s less likely a policyholder will abandon ship and move to another insurance agency.<\/p>\n\n\n\n

Cost Savings<\/h3>\n\n\n\n

For policyholders and agencies alike, there are cost savings to be had with bundling insurance. You can save up to 16% off their premium when they have multiple policies under one umbrella. Agencies can consolidate policies for more efficient administrative duties, such as renewals, claims and more, which in turn saves them money.<\/p>\n\n\n\n

Easier to Manage Payments and Communications<\/h3>\n\n\n\n

You will only have to pay one bill instead of two or more, so bundling insurance is simple and beneficial. For questions and other necessary communications, the policyholder can use one place to securely manage getting ID cards, make policy changes online, and more!<\/p>\n\n\n\n

Agencies can save time, as well, when they can perform operational duties, such as billing and communications with a combined policy. For example, instead of sending out two notices when it\u2019s time to renew, they can send out one. As you can see, bundling protection such as auto coverage and home insurance, is truly a win-win for all involved!<\/p>\n\n\n

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What Types of Insurance Can be Bundled with Freeway? <\/h2>\n\n\n\n

Most types of insurance can be bundled. The most popular forms are auto, home, renters, life and motorcycle. However, this is not a complete list. You should ask your insurance agent to find out exactly what can be bundled into one policy.<\/p>\n\n\n\n

Home and Auto Insurance<\/h3>\n\n\n\n

By far, the most popular and cost saving bundles is home insurance<\/a> and auto insurance. Policyholders who show their loyalty by putting these two polices together under one roof can save up to 16% off.<\/p>\n\n\n\n

Home, Auto, and Life Insurance<\/h3>\n\n\n\n

Another popular multi-policy option is home insurance, auto insurance and life insurance<\/a>. Combining these three together can earn distinct savings on the total package. Likewise, you can also bundle products such as motorcycle insurance<\/a>, RV insurance, boat insurance, mobile home insurance<\/a> and more.<\/p>\n\n\n\n

Auto and Renters<\/h3>\n\n\n\n

As with home insurance, you can definitely bundle your auto with your renters insurance<\/a> for potential savings. Renters insurance is very inexpensive anyway, so you won\u2019t see the same kind of money off that you\u2019ll get with a bundle that includes car insurance and home insurance. But every little bit helps, right?<\/p>\n\n\n\n

What Impacts Bundle Savings?<\/h2>\n\n\n\n

Many factors come into play when an insurance company decides when and if they will offer a discounted premium price for a bundled package. Some offer savings for all bundles. Others are more choosy, offering only select policies for bundling discounts. That\u2019s why it\u2019s always best to shop around and compare different providers so you can get the biggest bang for your buck.<\/p>\n\n\n\n

Individual History and Profile<\/h3>\n\n\n\n

As with all things insurance, your individual factors will come into play when a company is deciding whether to offer you discounts. Here are a few of those factors and be sure to go with a company that really personalizes the whole bundling experience:<\/p>\n\n\n\n