Did you know combining your home and auto insurance with the same insurance company can save you a lot of money, time and frustration? If you currently have your home, auto and other insurance coverage types through multiple insurance companies, you could be missing out on significant savings and a more simplified payment and claims process. Continue reading to learn more about the top three reasons you might benefit from insuring your car and home with the same company.
Lower Insurance Rates
Nearly all Wisconsin insurance companies offer discounts to customers who purchase both their car and home insurance policies with the same carrier. In fact, a 2015 review of the top 10 insurance carriers in the nation found that all of them offered a discount for bundling auto insurance with other types of coverage, such as homeowners coverage. On average, drivers and homeowners here in Wisconsin can save nearly 20 percent on combined premiums than they would on policies from individual carriers.
Of course, not all customers have the same coverage needs. Many insurers recognize the need for alternative types of coverage and will still offer multi-line discounts to people in need of renter’s insurance, condo insurance, or motorcycle insurance. Also, adding more types of coverage, such as boat or ATV insurance, can further increase the value of your discount.
Keep in mind that combining your car and home insurance may not always work to your advantage. Despite discounts, other companies may still be able to offer a more competitive quote that negates any multi-policy savings. That is why you should always speak with an independent agent before purchasing coverage. At an independent agency, such as the Thiel Insurance Group, our agents work for you – not the insurer. We can help you shop and compare individual home and auto rates as well as discounted rates for combined coverage. Together with your agent, you can explore savings options to determine which type of coverage is right for you.
Deductibles are the amount of money you pay out of pocket before your insurance company will foot the bill for liability and loss claims. Traditionally, you would pay a separate deductible to your insurer for each type of coverage you own. This can add up to hundreds or even thousands of dollars unless you have a mutual deductible through a package insurance policy. If a storm causes damages to your house, car and motor home, you might only be responsible for one deductible instead of three.
Fewer Bills, Less Hassle
Unless you enjoy fumbling through bills every month, the idea of a single payment is probably enticing. Instead of paying multiple premiums to a variety of carriers, you pay only one bill. Not only does this save time on bill payment, but it also means keeping up with only one due date. Furthermore, a packaged insurance policy could mean dealing with only one agent should you need to file a claim. That can significantly cut down on frustration and streamline the loss recovery process.
If you have questions regarding package policies or would like an insurance quote, please contact Thiel Insurance group today!