Bundling up is great when it’s cold outside, something that we’re very familiar with up here in Canada. But how much do you know about bundling different insurance services?
Do you want to save a “bundle” of money on your insurance every month? It’s not a difficult sell. However, discovering the best insurance option does require a little research, and that’s why Bradley’s Insurance is dedicating this blog post to touching on the pros and cons of bundle insurance. Specifically, we’re looking at bundling home and auto insurance in Ottawa. As the preferred Ottawa home and auto insurance broker in Stittsville, Bradley’s Insurance believes that it’s our responsibility to help the Stittsville and greater Ottawa community get the best deals on insurance.
Insuring Your Car and Home In Ottawa
If you’re still unsure of the most economical and sensible insurance option even after extensive research, don’t worry. Or insurance broker experts are here to help you assess your situation to find the insurance coverage that works for you, whether or not it’s a home and auto insurance bundle. From umbrella policies to classic car insurance and more, Bradley’s Insurance is your trusted comprehensive insurance broker in Stittsville. Feel free to get in touch with us today with any questions, or visit here to learn more about Ottawa auto insurance.
Now, we’re going to cover some aspects worth considering about home and auto insurance. Let’s take a look.
Bundling Home and Auto Coverage
Bundling insurance, as the name might imply, simply refers to buying multiple types of insurance from a single company. Bundling your auto and home insurance policies can result in hefty discounts, especially when you consider the big picture. While a home and auto insurance bundle is arguably the most common type of insurance bundle, you can also combine things like life insurance, motorcycle insurance, RV insurance, boat insurance, and more.
Saving Money With Bundle Insurance
Because insurance companies want to be your go-to for all of your insurance needs – whatever they may be – they’ll usually offer a bundle pricing discount. Now, exactly how much money you’ll end up saving depends on where you live. Think of it this way: If you’re already spending money insuring your car and your home or place of living, why not continue to cover these things, but through the same insurance provider? Not only will bundle insurance save you some money in this case, but it’s also just more convenient.
Staying With Your Ottawa Insurer
Another main advantage to bundle insurance is that your insurer is less likely to drop you because you’re using more of their services. Indeed, if you bundle insurance, you’re automatically more valuable to your insurance company. Withholding multiple policies with the same provider, if you had a bad year and had to file multiple auto insurance claims, you’re less likely to get dropped. However, without those extra policies, multiple claims under one policy in a relatively short amount of time could send you on a quest to find a new insurance provider.
Saving On Your Deductible
Hypothetically, let’s say that a tornado came through and damaged both your car and your house in one fell swoop – something that could very well happen because most people park their car at home. While you’re probably feeling quite unlucky, take solace in the fact that with an auto and home insurance bundle, you may only have to pay a single deductible for both claims. Granted, this depends on the particular policy in question, but chances are that you’ll end up spending less out-of-pocket than if you had policies from two separate insurance providers.
Necessary Information To Bundle Policies
Typically (again, this may vary based on the provider), to get a quote and buy an auto insurance policy either online, over the phone or in person, you’ll most likely need:
- Your vehicle identification number (VIN)
- Your lienholder information (if applicable)
- Your driver’s license number
- Your credit or debit card information for a down payment
Obtaining a homeowner’s quote might require more information and time as compared to getting an auto insurance quote, as a home is generally worth much more than a car. It’s generally recommended that you have your current homeowners policy ready so that the agent can try to match coverage. It’s also helpful to know things like:
- The value of your home
- The year your home was built
- Your home’s square footage
To actually purchase a homeowner’s policy, the following information is typically necessary:
- Your mortgage company
- Your loan number
- The escrow account (if applicable)
Avoiding Coverage Gaps
Bundling your car and homeowners or renters insurance is a good way to avoid any coverage gaps, providing you with the peace of mind that everything is taken care of and accounted for. In addition to auto and home insurance coverage, life insurance is the most common policy that’s bundled in with home and auto. While combining life, auto and home insurance is the “trifecta” of coverage, it’s actually more common just to see auto and home insurance policies bundled into one comprehensive policy. Again, this depends on the insurance provider in question.
Contact Bradley’s Insurance To Learn More About Auto and Home Insurance Policies
Everyone has a unique financial situation, and so there is no “one-size-fits-all” insurance policy. That’s why Bradley’s Insurance works with each Ottawa resident personally to find the best fit for you. Ask us questions about the right home auto insurance bundle by getting in touch with our Ottawa insurance experts today.