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The Top 3 Reasons You Should Bundle Your Car and Home Insurance.

Published in Bauld Advisor Tips

Like most people, Nova Scotians always like to take advantage of money-saving alternatives. We frequently hear our clients asking, “How can I save money on insurance?” You can typically do just that by bundling car and home or tenant insurance. Bundling car and home insurance can be a great way to save money and simplify your finances. This blog will explore how bundling your insurance works and the common advantages it can provide.

What is a Bundled Insurance Policy?

You will have multiple insurance policies with the same company when you bundle your insurance. A typical bundle will combine car and home insurance, but you can also bundle other vehicles and buildings. This can include your motorcycle with your RV or cottage. Insurance providers like it when you insure more than one asset with them and reward you for choosing to do so. Depending on your circumstances and the insurance companies, the amount of savings varies, but typically bundled insurance policy discounts can deliver some real savings and other benefits. Let’s take a closer look.

Key Benefits of Bundling Car and Home Insurance?

When it comes to protecting your car and home, bundling your insurance together in one policy is usually smart. Bundling can help you to get more comprehensive coverage at the lowest possible cost. Here are some of the benefits of bundling car and home insurance.

  • Save Money. One of the most significant advantages of bundling car and home insurance is saving money. Insurance companies offer discounts for customers who bundle their policies, which can help you save up to 15-20% on your premiums. Bundling your policies together also allows you to make one payment each month, which is more efficient. Some insurance providers offer a lower finance fee when car and home insurance are combined.
  • More Convenience, One Point of Contact. When you bundle your car and home insurance, you can manage both policies in one place. This means less paperwork and fewer bills to keep track of each month. You can make one call to your insurance provider to adjust both policies or make changes to your coverage. And you will have only one renewal date to keep track of.

In case of a claim, you will have a single point of contact for both your home and auto insurance, making the process simpler and more convenient. Plus, only one deductible is used in a claim involving both home and car, such as a smashed car window and a stolen laptop.

  • Comprehensive Coverage. Bundling your car and home insurance policies can also help you get more comprehensive coverage. When you bundle your policies, you can add additional coverage options or gain access to additional liability limits. For example, you can add rental car coverage or roadside assistance to your auto insurance policy or add coverage for valuables to your home policy.

Are There Any Disadvantages of Bundling Your Insurance?

While bundling will often save you money, it’s not guaranteed. The convenience of bundling may make you less likely to shop around if your insurance needs change. Plus, some insurance providers may place you with multiple insurers anyway, which may mean you miss out on the ease of dealing with one company and one account. Be sure to confirm this approach with your insurance broker.

For Nova Scotians, having the right insurance is always a top priority. Bundling can be a great way to save money on insurance and simplify matters, making claims support easier and establishing comprehensive coverage. To learn more, check out our Bundled Car and Home Insurance webpage, where you can also request a quote. Our Bauld Insurance Advisors can help you get the best bundled car and home or tenant insurance policy and coverages just right for you.