For many years, lots of households have insured their homes, cars and other belongings with different policies, and often with different insurers. However, it doesn’t have to be that way; some companies are starting to see the benefits of capturing a large slice of the market by offering a discount to customers for taking out more policies with them.
There can be a significant saving of between 5 and 10 per cent when taking out two policies together, but that doesn’t necessarily mean it’s the best option for you. There are pros and cons that should always be thoroughly researched and compared before committing.
Are Bundles Always Cheaper?
Generally, taking out a second policy with the same insurer will get you a discount, but even a discounted policy doesn’t make it the cheapest if it was more expensive in the first place. You want to be looking at the overall value of a product rather than the price alone because a policy might offer you more features and benefits for a slightly higher overall fee, and opting for the cheapest price might leave you without some benefits you actually need or take for granted.
Check with several companies or put your details into a price comparison site to get an idea of what the standalone prices would be for the policies you want. This will give you a better representation of the value of a combined policy and gives you something to compare.
Premium Up For Renewal
When it comes to the time to renew your policy, it is very rare that the best deal available is the one you’re already using. Most insurance companies give their very best prices to new customers, so switching can benefit you, as can haggling.
For more on the potential benefits of choosing an insurance bundle, see this article from MSN. If you’re looking for motor trade insurance, you might need to look at that separately from your domestic policies. Speak to a specialist company like quotemetoday.co.uk/motor-trade-insurance for motor trade insurance.
As is often the case with insurance, a little research and shopping around before you commit is the best way to save some money. The best deal out there will always vary depending on your personal circumstances.