You were diligent in your search for car and home insurance, carefully searching for each individual policy until you found companies that were willing to provide you with the right coverage at an excellent price. You are confident that you found the lowest rates for each type of coverage; but could you have made a mistake? What if you discovered you were paying hundreds more in premiums each year because you missed one very important discount? Learn how combining your car and home insurance with the same company could equal big savings.
Discounts that Save You Hundreds
Insurance companies are not shy about the discounts they offer when you purchase your home and auto coverage through one carrier. While the discount varies from insurer to insurer, some advertise savings of as much as 22 percent when you combine auto coverage with homeowners, renters, condo or life insurance. Known as a multi-line discount, it is not uncommon for drivers and homeowners here in Wisconsin to save $200 or more simply by consolidating coverage with the same company.
In addition to savings on premiums, some bundling options can save you money when you file a claim. Package insurance policies offer a shared deductible feature, which spans across multiple assets insured on the same policy. If back out of the garage without first opening the garage door, you might pay only one deductible for the damages instead of two separate payments for the car and house.
Unlike individual policies with multi-line discounts, package insurance includes all coverage types under one policy umbrella with discounts factored into a single premium. In exchange, you may enjoy more comprehensive insurance protection not available with individual lines. Package insurance can include your car and home insurance, as well as special properties coverage, valuables coverage, recreational vehicle insurance, investment property protection, and umbrella insurance with increased liability limits. You may also be able to add additional protection for yourself when your identity is stolen or you suffer a loss at the fault of an uninsured or underinsured individual.
Shopping with an Independent Agent Helps You Save
One of the reasons many people get trapped paying higher premiums on multiple policies spread across several different carriers is because they did not use an independent agent when shopping for coverage. Instead, they go directly to the insurers recommended by friends, realtors, or family members. In some cases, they attempt to shop around themselves, but are unable to effectively sort through and compare individual and bundled rates from each of Wisconsin’s leading insurance companies.
By shopping with an independent agency like the Couri Insurance Agency in Waukesha, you work with a customer advocate with goal of saving you money – not driving business to the insurer. An independent agent can help you determine if a bundled car and home insurance discount could save you money, or if you are better off purchasing individual policies from two different providers.