Insurance rates are on the rise for both home and auto policies. It’s time to schedule an insurance review with your insurance agent and discuss discounts available to you. According to “insurance.com,” the average multi line discount can save you up to 15%. Different insurance carriers have a variety of discounts available. Find one that best fits your household.
Multi line is often referred to as “bundling.” Currently many insurance carriers offer significant discounts for customers who have multiple types of insurance policies with one company or the same agency. A significant benefit of having multi line policies with one carrier is because the insurance carrier can get a better understanding of the insureds circumstance and risk factor. It makes it easier for policy renewals and in the event of a claims situation, you only work with one adjuster.
Bundling packages generally include examples below:
Homeowners +auto
Renters + Auto
Homeowners + Auto + Flood.
During your insurance review, be open and honest with your agent. Explain prior claims and any speeding tickets you may have. Knowing up front any “red flags” will assist your agent in quoting you with the right company.
Converse with your agent about the benefits of security systems and credit history. Having a good credit score can decrease your premium. Are you a Veteran or currently in the service? Military discounts are available from certain companies.
Other options to discuss with your agent are what additions the home has. Discounts are available for tankless water heats and living in gated communities.
Ask your agent as many questions as you can. When discussing your auto policy inquire about programs that track your driving habits. Many auto companies are offering discounts by using their safe driving apps. The apps use GPS to track your driving habits, which can provide additional discounts for good habits.
For more information on the benefits of bundling and joining the GPS based programs see the links below with our partners.
