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

Most people feel that if they put all of their insurance in one excellent package, then they are saving money. That, however, is not always the case. For instance, a cable company may offer bundling 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 are not a diverse market. There are only four to five companies to choose from, and in most cases, where you live dictates what cable company you will use. So any savings is a good one.

Likely, you can still find cheaper policies if you shop around. Being a savvy consumer is the best way to see if you are getting the bang for your buck. Once you’ve researched, you may find that bundling is not always the best way.

However, insurance is a horse of a different color. There are hundreds of insurance companies in Florida, all of which specialize in other 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, allowing you to deal with only one agent… one insurance company.

But if money is your primary motivator, you may want to research more. Bundling allows you to get multi-lined discounts, but you still may find cheaper, separate policies through another agent or with another insurance company. So many factors 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 you are considering. It’s your money, so take an extra week to compare prices and coverage, as the two go hand in hand.