If you have a mortgage on your home, you might have to buy homeowners insurance. Yet, even if you’ve paid off your home, carrying home insurance still should be at the top of your list. More or less, all homeowners need this coverage. It’s a great source of financial protection in case hazards damage your home or harm someone else.
Still, home insurance is another item in your budget. Coupled with other insurance costs and more expenses, we all have to do what we can to keep expenses low. Given that the average annual premium in Georgia is around $1,100, it is easy to see why everyone wants to save as much as possible.
The good news is that you can often use your insurance itself as sources of cost savings. Insurance is rife with discounts and cost deductions. If you can leverage your coverage correctly, you can often pay more affordable costs. One of the ways to do so is by bundling your coverage. You’ve probably heard a lot about insurance bundles, however, you might not know exactly what it means.
Bundling means that you buy multiple insurance policies through the same insurer. Rather than multiple policies from several carriers, you can keep all your policies in one place. This comes with several different benefits.
- You will always have a single portfolio of your insurance. So, if you have multiple assets damaged in a covered incident, you can turn to one place for help with all of your claims.
- Many bundles mean you only have to pay one premium. It will contain the separate premiums of each policy rolled together.
- Some insurers allow customers to pay only one deductible if they carry bundles. As a result, you might have to pay less out-of-pocket following a covered claim.
- Many insurers offer discounts for customers who bundle. With lower premiums, customers can benefit for more cost savings.
In many cases, you have few, if any limitations, on what policies you can bundle. For example, if the company you select offers home, auto, boat and RV insurance, you might be able to buy and manage all four policies at the same time. This could save you a lot of hassles.
So, when you talk to your Atlanta insurance agent, ask them about the benefits of bundling your policies. They can likely help you settle on an insurer and various policies that offer the best savings. With a little attention, you won’t have to worry about spending high prices on your coverage.