HARO
Reporter: Anonymous
Publication: Anonymous (or Insurance.com)
Interviewee: Josh Damico, VP of Insurance Operations at Jerry
Deadline: 9:00 AM EST – 20 June
What are some of the benefits of bundling a home and auto insurance policy?
There are a few benefits to bundling your home and auto insurance policies. The most common benefit is saving money on your premium as many providers offer discounts on your home and auto insurance policies if you bundle them together. Some companies also offer discounts for multiple policies within the same household. Another benefit is that it simplifies your insurance experience overall. Bundling insurance policies also means managing fewer accounts, making one payment instead of two, and contacting the same carrier to make changes across your policies.
Is bundling an auto and home insurance policy worth it?
As with most financial decisions, bundling your insurance has pros and cons. When you need coverage for your home and car, bundling can save you money and time. However, there are certain situations when bundling may not be the best.
If your car insurance is expensive or you require specific coverage, you might save more money by finding an insurer that caters to your needs. So, before pulling the trigger, be sure to read the fine print and shop around. Compare the total price of the two cheapest individual policies to the cost of the cheapest bundled one. Despite the fact that a specific policy bundle may seem like a good deal, its coverage may not be as strong as another. To compare your options easily, use a service like the Jerry app, which automatically shops from more than 55 insurance carriers to find you the right policy, bundled or not, for the right price.
Can you cancel one policy when you have an insurance bundle?
If you want to keep your bundling discount, you must keep both your auto and homeowner’s insurance with the same company. Your bundling discount will be terminated immediately if you decide to cancel either policy. Speak with your insurance agent before canceling any of your policies to avoid a lapse in coverage. It may make more sense to switch insurance companies completely instead of only canceling one of your policies. Many insurance providers offer bundling discounts, so you can compare quotes until you find a bundle that makes sense for you.