insurance bundles

As a renter, you’ve probably heard about the importance of protecting your personal property with renters insurance and (hopefully) have a policy of your own. If you have a vehicle, you must carry car or motorcycle insurance. There’s also life insurance, pet insurance, travel insurance, and more. All these different policies can get confusing — and expensive — but with insurance bundles you can actually cover many of your bases, and save money along the way.

What Can I Bundle?

Bundles usually combine the two most common insurance types: auto and property. They may include car and home insurance, motorcycle and renters, car and renters — you get the idea. If you do bundle your policies with the same insurance company, the applied multi-policy discount will bring your monthly and yearly insurance costs down significantly compared to your individual plans.

An Exciting Example

For example, say your renters insurance alone costs $200 per year and, depending on the terms of your policy, is paid for on an annual, quarterly, or monthly basis. If you bundle your renters insurance with an existing auto policy or vice versa, you may pay closer to just $50 per year for renters.  (Are you doing the happy dance yet?)  Of course, the exact amount depends on where you live, the level of coverage you choose and more, but the savings opportunity is significant.

Related: Other ways to save money

Convenience is the Bonus

If the lower cost isn’t enough to convince you, consider the ease of being able to see, manage, and change your policies, premiums, and payment deadlines all in one place. Most companies allow you to get a bundle quote online or by phone, so you don’t have to commit to anything until you’ve shopped around and determined the best policy option for your individual needs.

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About The Author

Based in Salt Lake City, Emily writes about money and personal finance, smart home tech and home automation, home safety and security, home improvement, green homes/sustainable living, health and wellness, and working from home. She regularly contributes to DailyWorth, KSL.com, TheOutbound.com, Modernize.com

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