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Combining Insurance Policies To Save Money

Trusted ChoiceThe number of insurance policies that you need, and the premiums that you pay for them, can seem to take a huge part of your monthly budget. So how can you keep you and your family protected while saving some money? Often you can save by combining  insurance policies with your home insurance without sacrificing coverage.

Insurance companies are more than happy to insure policyholders with multiple policies such as; auto, motorcycle, boat, Recreational, Home. So they are eager to offer you great discounts. This will help you to save more on your premiums.

When you combine your home and auto insurance, for example, you will not only save money, but you will have the added convenience of one insurance package, one payment to make each month, one renewal date, and one single deductible that will apply in the event a claim is made.

As with any type of insurance, it is important to do your research. You should find out how a company ranks in terms of how well they pay their claims and how strong they are financially. You should also read the insurance policy carefully so that you know exactly what you are covered for and how much the provider will pay for a claim. It is important to remember that having the right amount of coverage outweighs the cost of having inadequate coverage.

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To Bundle or not to Bundle? That is the question!

policyMost people feel that if they put all of their insurance in one nice package then they are saving money. That however is not always the case. A cable company for instance may offer bundling as a way for you to save money if you put your cable, phone and internet together. This bundling system works for cable companies because cable companies as a whole is not a diverse market. There are only about four to five companies to choose from and in most cases, where you live dictates what cable company you will use. So any type of savings is a good one.

 

It is very likely that you can still find cheaper policies if you shop around. Being a smart consumer is the best way to see if you are really getting the bang for your buck. Once you’ve done the research, you may find that bundling is not always the best way to go.

 

However insurance is a horse of a different color. There are hundreds of insurance companies in the state of Florida, all of which specialize in different lines of insurance. Competition is high and insurance companies that give the option to bundle are at an advantage, because bundling can be a way to get added discounts. It offers the convenience of making one payment a month versus two or three and it allows you to deal with only one agent… one insurance company.

 

But if money is your main motivator you may want to do a little more research. Bundling does allow you to get multi-lined discounts, but you still may be able to find cheaper, separate policies through another agent or with another insurance company altogether. There are so many factors that go into determining insurance rates, so don’t get caught up on the concept of bundling. As a consumer, take the time to do your homework on the companies that you are considering. It’s your money so take an extra week to compare prices and coverage as the two go hand in hand.

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