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Bundling Options For Homeowners in 2022

 


Bundling your homeowners policy with other insurance policies with the same company is an easy way to save money and offers the convenience of one bill and minimal paperwork. It can lead to a sizable policy discount, up to 25% off with certain insurers like Allstate and GEICO, plus other perks like single deductible claims if your home and car sustain a covered loss. 

 But there are instances where using two separate providers could still be cheaper, so it`s always a good idea to shop around for unbundled quotes and bundled quotes to compare. For example, customers only save an average of 4% when they bundle home and auto insurance with Progressive. 

 According to J.D. Power, homeowners insurance customers have a significantly higher bundling rate, and they`re likely to stick with the same company for twice as long compared to customers who only carry auto insurance. 

 If you decide to merge, look for a company that issues several policies on its own. The most popular insurance companies offer the option to combine insurance, but some insurance companies combine insurance from several different companies into "packages" with discounts. It may be worth the savings, but since you have to talk to two different insurers, it can be a headache when it comes time to change your policy or file a claim. 

  Ken Gregg, CEO and president of Orion180, a Florida-based insurance company, says, "You have to be careful because you can have two claims for two different companies and you're not talking to each other."

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