The bundling of insurance policies is the process of having multiple lines of coverage through a single carrier. This can mean having your home, auto and vacation home insurance through one company or having disability, long-term care, and auto through a single insurer. In short, it doesn't matter what types of insurance you choose to have through a single carrier just that you have multiple policies.
There are many advantages enjoyed by clients who bundle, including:
- Premium discounts: Insurance companies offer incentives when their customers show their loyalty by bundling policies with them. Sometimes these incentives are found in the form of special discounts. Not only can these discounts make your premiums more affordable, they can free up money in your budget, allowing you to invest more in higher insurance limits and lower deductibles than you might otherwise.
- Easier bill payments: When you have only one insurance company to pay premiums too, it makes the process of paying bills each month or year easier. No more searching for multiple mailing addresses, addressing several envelopes, and managing various payers. This can even have a positive effect on the longevity of your policy as it reduces the likelihood that you will miss a payment and lapse a policy.
- Streamlined claims processes: Some insurable incidents can affect multiple assets. For example, a hurricane could necessitate a home insurance claim, a flood insurance claim, an auto insurance claim, and a disability claim. When you must deal with several different types of insurance companies for claims resulting from one event or several events, it makes the process of becoming whole after insurable incident much more difficult. By bundling your policies you may find the overall claims process easier.
Whether you decide to bundle or not, fulfilling all your Oklahoma City insurance needs through one agency can sometimes have a similar effect. We can assist you in working with multiple insurance companies and developing premium due dates that are more manageable for you. In addition, we can help you set up automated bill payments. Just give us a call at ECI Agency today and start taking control of your insurance coverage.