• Home
  • Get A Quote
  • Customer Service
  • Refer a Friend
  • About Us
  • Location Map
  • Employee Directory
  • Privacy Policy
  • Contact Us
Call Us CALL US | (803) 430-9002
Home
  • Home
  • Get A Quote
    • AutomobileImage of right arrow
      • Bundled Auto & Home Insurance Quote
      • Instant Auto Insurance Quote
    • BondsImage of right arrow
      • Bond Request Form
      • Surety Bonds
    • Business & CommercialImage of right arrow
      • Commercial Auto Insurance Quote
      • General Liability Quote Form
      • Get an Instant Business Insurance Quote Now!
    • Contractors Insurance
    • Disability Insurance
    • Flood
    • Health
    • HomeownersImage of right arrow
      • Get an Instant Home & Auto Quote Now!
      • Get An Instant Homeowners Quote Now!
    • LifeImage of right arrow
      • Get an Instant Life Quote Now
      • How Much Life Insurance Do You Need
    • Motorcycle
    • Recreational Vehicle
    • Renters
    • Surety Bond
    • Trucking
  • Customer Service
    • AutomobileImage of right arrow
      • Request ID Card for Auto Policy
      • Send Declaration and Coverages Information to Lien Holder
    • LifeImage of right arrow
      • Family Life Protection FREE REPORT
      • Life Needs Income Replacement Calculator
      • Retirement Savings Calculator
    • Other
  • Blog
  • Make a Payment
  • Resources
    • Secure File Area
    • Refer a Friend
    • Important Links
    • Calculators
    • Important Files
    • Free Reports
    • Insurance Glossary
  • About Us
    • About Affordable Insurance Group
    • Location Map
    • Employee Directory
    • Customer Testimonials
    • Privacy Policy
  • Contact
    • Contact Us
    • Join Our Newsletter
Auto Insurance AUTO

Auto insurance protects you against financial loss if you have an accident.

Read More
Homeowners Insurance HOME

A standard policy insures the home itself and the things you keep in it.

Read More
Business Insurance BUSINESS

Discover the perfect insurance options to meet your specific and unique needs.

Read More
Contractors Insurance CONTRACTORS

Learn about different health coverage options that fit your specific needs.

Read More
Recreational Insurance RECREATIONAL

Finding insurance doesn't have to be difficult. We do the work for you.

Read More
Life Insurance LIFE

Browse a variety of insurance options in order to find the right one for you.

Read More
Home > Blog > What are some examples of when insurance bundling is a bad idea?
FRIDAY, FEBRUARY 13, 2015

What are some examples of when insurance bundling is a bad idea?

Some insurance companies offer only one type of insurance, while others offer many different types. Insurance buyers often receive a discount if they buy all or many of their insurance policies from the same company. Bundling often presents value to policyholders, but there are times when it does not.

Life insurance policyholders, for example, tend to stay with one company for their entire lives. Switching life insurance companies can be difficult or impossible. Those with term life insurance have the option to switch at the end of each term. Life insurance holders should shop rates every time they renew term life insurance to ensure they are getting the best deal. Whole life insurance is generally held for life.

Bundling may not always be available. For example, a person who owns an exotic car requiring special insurance may have difficulty bundling his or her auto, home and life insurance. A company that offers the best home insurance rate may not offer any other types of insurance, and the cost savings could make not bundling worthwhile. Researching competitive quotes and examining the total cost with each combination of insurance provides the answer as to what the cheapest route is.

For many reasons, rates offered by insurance companies can change. A customer who bought a bundled package of home, auto and life insurance may get the best deal at one point in time. However, what was the best deal before may not always be the best deal now. It is wise to compare quotes for each insurance policy each time they are due to be renewed.

Different companies offer different types of coverage, and exactly what is covered by each company can vary dramatically. Some medical procedures and diseases are covered by some insurers, and some are not. Different home insurance policies offer varied levels of coverage as well. When comparing quotes, be sure to compare comparable policies. Sometimes it is not possible to get competing quotes on exactly the same coverage, and it is necessary to compromise either in price or in the level of coverage received.

Some people like to spread different insurance payments over the course of a month. For those who get paid on a weekly basis, it might be difficult to pay a large insurance bill that covers medical, home, auto and life insurance all at once. Another drawback is that a missed payment has much larger consequences. Should a missed insurance payment occur, it may be better to miss a life insurance payment than an auto insurance payment. By having insurance spread over several policies, those who are on tight budgets may maintain more control of how many policies they miss payment on in a worst-case scenario.

Read More: Source

Posted 6:08 PM

Tags: auto, automobile, home, homeowner, life, insurance, policy, tips
Share |


No Comments


Post a Comment
Required
Required (Not Displayed)
Required


All comments are moderated and stripped of HTML.

NOTICE: This blog and website are made available by the publisher for educational and informational purposes only. It is not be used as a substitute for competent insurance, legal, or tax advice from a licensed professional in your state. By using this blog site you understand that there is no broker client relationship between you and the blog and website publisher.
Blog Archive
  • 2022
  • 2021
  • 2020
  • 2019
  • 2018
  • 2017
  • 2016
  • 2015
  • 2014
  • 2012

  • affordable insurance group(52)
  • insurance(43)
  • home insurance(26)
  • auto insurance(25)
  • coverage(24)
  • car insurance(16)
  • protection(11)
  • tips(9)
  • life insurance(8)
  • home(7)
  • life(7)
  • winter(6)
  • claims(6)
  • homeowners insurance(6)
  • homeowner(6)
  • loss(4)
  • weather(4)
  • safety(4)
  • policy(4)
  • repairs(3)
  • risk(3)
  • business insurance(3)
  • rv insurance(2)
  • options(2)
  • motorcycle insurance(2)
  • finances(2)
  • boat insurance(2)
  • quote(2)
  • flood insurance(2)
  • construction(2)
  • auto(2)
  • claim(2)
  • accident(2)
  • exclusions(2)
  • theft(2)
  • damage(2)
  • women(1)
  • prevention(1)
  • gaming systems(1)
  • autonomous vehicles(1)
  • home insurance exclusions(1)
  • transmission(1)
  • fraud(1)
  • loans(1)
  • requirements(1)
  • family(1)
  • class c vehicle(1)
  • renters insuance(1)
  • future(1)
  • cleaning(1)

View Mobile Version
Facebook
Twitter
LinkedIn
Yelp
ASI Homeowners of America National General Progressive Stillwater The Hartford The Main Street Travelers Zurich

Resources

Home About Us Get a Quote Make A Payment Newsletter Refer A Friend Contact Us

Contact Us

Affordable Insurance Group
  • Affordable Insurance Group
  • 6168 Saint Andrews Road
  • Columbia, SC 29212
  • O:(803) 430-9002
  • F:(803) 798-5100
  • E: info@affordableinsgrp.com
© Copyright 2020. All rights reserved.
Powered by Insurance Website Builder