Preview

Essay On How Bundling Lowers Insurance Costs

Good Essays
Open Document
Open Document
How Bundling Lowers Insurance Costs

It is not uncommon for people to have one insurance company that was recommended by their real estate agent for their home and another insurance company for their car and still a different one for their life insurance. This is mainly because many people keep the same life insurance company that their parent has had and follow the recommendation of their car dealer for their auto insurance. According to professional insurance and financial advisors such as https://www.statefarm.ca/agent/CA/AB/Calgary/Ted-Yan-GQB585PH9AK you can greatly lower your overall insurance costs if you bundle them together with the same insurance company.

Sometimes people buy insurance at the cheapest possible price, which may mean they use several different companies. However, cheaper is not always better, especially for insurance. At the moment when you really
…show more content…

However, most insurance companies want customers who will stay with them for the long-term, and to achieve this they bundle car and home and to give customers a cheaper rate than if they insured each separately. The discounts continue to add up if you add another car and a life insurance policy.

One great advantage of having at least home and auto insurance bundled is that it may reduce your chances of being dropped if your driving record all of a sudden takes a turn for the worst. Insurance companies are less likely to drop the auto insurance of a customer who has a bundled account.

How Much Cheaper Is It?

If large insurance companies have more of your money to invest, they can afford to charge you less. Depending on all the circumstances involved with your driving record, type of car and driving habits along with the type of coverage you have on your house and life, you could safe from $3,000 - $5,000 or more every


You May Also Find These Documents Helpful

  • Good Essays

    Use the box on page 305 to give Mark and Kelly some pointers on how to save money when shopping for a new auto insurance policy, especially considering the accidents that are now on their record. i. I would Advise the family to get family auto insurance so it will protect their entire family who is able to drive legally ii. Automobile bodily injury liability should be another opionion for the family to have. This will cover any bodily harm that they may cause during a crash iii. Medical insurance should be consider when it comes to insurance.…

    • 580 Words
    • 3 Pages
    Good Essays
  • Good Essays

    I will be purchasing my insurance from Francis L. Dean & Associates, Inc. The firm is located in Wheaton, IL, but does most of its business through the Internet. They are the nation's leader in sports insurance and specialize in summer camp insurance.…

    • 628 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    The following reading is to familiarize the reader with private payer plans and types of consumer-driven health plan (CDHP) accounts. Private payer plans such as PPOs, HMOs, and Group HMOs are the most popular but there are also others to consider when making decisions on health coverage, which are IPAs, POSs, and Indemnity plans. The CDHP accounts are made “for the consumer” and therefore consumers (patients) have a say in what kind of plan they wish to have and sometimes consumers can build their own health plan according to their financial situations with savings account options. After reading this information, the reader will have a clearer idea of the options available through health care coverage.…

    • 1649 Words
    • 7 Pages
    Powerful Essays
  • Satisfactory Essays

    Cheapest Insurance Quotes

    • 561 Words
    • 3 Pages

    That is the reason it is dependably somewhat of a frustration in the wake of purchasing a car to need to consider purchasing car insurance. You are without a doubt going to need to purchase the cheapest-conceivable car insurance - but then you are going to need to ensure that you purchase enough scope to address your issues.…

    • 561 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Answer the following questions about the insurance coverage and the health care profile. Then, determine what coverage is best for each company.…

    • 627 Words
    • 5 Pages
    Good Essays
  • Better Essays

    Cigna Paper

    • 1073 Words
    • 3 Pages

    Today, most people purchase health care insurance through their employers. Since the rise of the Obamacare and other global insurance companies have made their way to the market people are now choosing individual insurance company. Some insurance companies may offer individual or family policies or even student policies, but finding the best policies and provider depends on how well the marketers use the marketing strategies as well as the marketing mix. Cigna is a medical group which was started back in 1968 by nine internal medicine physician in a small office. “Now 38 years later, this medical group has grown from one small office to one of the Valley’s largest multispecialty health care providers.”…

    • 1073 Words
    • 3 Pages
    Better Essays
  • Good Essays

    (3) Keep in mind; most insurance companies want to compensate their insurers; however, they also want to keep costs down and reduce their overhead. A car crash…

    • 367 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Cost vs. the amount of coverage remains a top concern for seniors when comparing Medigap insurance plans:…

    • 597 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    Critical Health Insurance

    • 489 Words
    • 2 Pages

    Either as an independent standalone insurance policy or simply as a part of your current health insurance cover. In the event you take the same as part of your own health care insurance cover the actual overall premium amount that you should pay will undoubtedly be higher than it typically would be otherwise, but nonetheless the actual benefits definitely overshoots any cost that you pay off. As described in the particular case in point above, had Steve taken a critical illness insurance cover together with his very own medical insurance coverage, his very own family members would have been much better off. The added expenses at times just like this are really…

    • 489 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    his is not to scare you; it is just that you need to be practical. Even when you have all your plans put in place, you need to be around to implement them and in the event that you are not your loved ones, your family members should not be left high and dry. So if there is one thing you can secure yours and their future with, then it is the life insurance direct. Life insurance is the most important financial instrument you can get - it is a savings account, it is a investment…

    • 424 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Many of us do not go for those so-called cheap insurance because we are worried that they are parts of scams or they have hidden charges in them. No doubt there are insurance companies promising affordable policies but we ended up paying more than what we thought because of the hidden charges. Therefore, we should always do some detailed research before making decision of signing up with any company. Use the Internet to obtain information by doing…

    • 473 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Manage Care ORGANIZATIONS

    • 707 Words
    • 3 Pages

    All three of these companies offer similar plans to include family, individual, vision, dental along with dealing with your life changes. You can get insurance either by paying for it personal or by getting it through the company you work for. Each plan is different and unique to the person or family that holds it. Each has different coverage’s, deductibles and things that are covered more then others. UnitedHealthcare, our Health Benefits platform, serves key markets and geographic regions with a broad range of health benefit products and services for both consumers and benefit sponsors. We serve people in employer-sponsored health plans, those enrolled in Medicare and Medicaid, as well as those who purchase their own health plans (UnitedHealth Group, 2014).…

    • 707 Words
    • 3 Pages
    Good Essays
  • Powerful Essays

    Medicare Overview

    • 1393 Words
    • 6 Pages

    insurance providers from year to year. Currently this is not so, you had your 6 months when…

    • 1393 Words
    • 6 Pages
    Powerful Essays
  • Good Essays

    Lastly, whoever is contracted with fixing whatever issue the insuree has is not concerned with price because they know the insuree is not having to pay for it all. This makes it easy to add premium and excessive services to drive up the price and have the insurance pay for the additional and unnecessary service.…

    • 1152 Words
    • 5 Pages
    Good Essays
  • Satisfactory Essays

    In the past, my family and I were having a hard time to look for medical insurance, especially my dad. My dad's work has been stopped offering medical insurance, so he had to find and apply for a new one. Medical insurance is very expensive, so it was very hard for my dad to pay it, since he has other bills to take care of. Also, we were struggling to find medical insurance because we were in low income. Then, one of my dad's coworker suggested a medical insurance that offers low insurance. He used the community resource that his friend recommended, which is Covered California and used it.…

    • 109 Words
    • 1 Page
    Satisfactory Essays