When it comes to insurance products, one question that is frequently asked is whether you should purchase stand-alone policies from various insurance companies or whether you should combine your home and auto insurance policies and only do business with one insurance company. Here are some of the benefits of combining your home and auto insurance policies.

1. Save Money

People often combine their home and auto insurance policies because they can save money. Many insurance companies offer a discount to those who purchase multiple insurance products through them. So, if you purchase two or more products, you may receive a discount. The discount can vary though, so always ask an insurance company what type of savings you may receive by bundling through them.

2. Streamline Policy Management

When the time comes that you need to file a claim, think about what happens if you have policies in multiple places. You need to dig up your documents and find out what company holds the policy you need to file a claim with and you need to find your online sign-in information or phone number to file a claim. However, this can all be streamlined if all of your policies are with one company. According to the Insurance Information Institute, around 5% of homes filed a home insurance claim in 2019. You know exactly where to go to file a claim with all of your policies in one place.

3. Make Paying Easier

Next, consider the payment process. If you have policies with different companies, you have to keep track of multiple monthly or half-yearly payments. You may have to make payments to different companies or set up auto pay and keep track of which companies are taking which payments and when. If your policies are all combined with one insurance company, you only need to worry about paying one company at one time. This makes paying a lot faster and a lot easier to track.

Combining home and auto insurance can be beneficial for the vast majority of people. However, you should always consider combining your policies on a case-by-case basis. An insurance agent can work with you and help you determine if it's beneficial to combine your policies and what specific benefits you may experience. When searching for a new home insurance policy, auto insurance policy, or a combined policy, let our team help you. Reach out to Beaudry Hometown Insurance today to learn more.