When shopping for insurance coverage, there’s a good chance you’ll be presented with the option to bundle your policies. This is the practice of purchasing more than one coverage from the same provider. Insurance companies offer this as a way to get more business from you, but there can be some great advantages to this method, as well. Below are a few things to ask before buying coverage that will help you learn more about bundling and if it’s the right choice for you.

3 Questions to Ask About Bundled Insurance Policies

1. Which Types of Coverage Can Be Bundled Together?

Although the answer to this will vary from company to company, it’s often possible to bundle everything from car, homeowners, and umbrella insurance to renters, boat, motorcycle, and life insurance. If you’re looking for certain kinds of coverage, an agent will help to identify which policies can be bundled.

2. What Are the Benefits of This Approach?

The biggest benefit of bundling insurance is the substantial savings it can provide. Companies typically offer discounts on premiums when consumers purchase multiple policies from them. Additionally, bundling allows for the convenience of managing all your policies in one place. For example, you only have to deal with one insurance company when paying bills or filing claims.

3. When Does It Make Sense to Bundle My Policies? 

Bundling your policies typically makes the most sense when it gives you the best deal possible on your insurance needs. Have an agent evaluate each policy on its own and then together in a bundle. It’s also important to find out if there are limits on the amount of coverage you can bundle.

The more educated you are on bundling policies, the better equipped you will be to decide how to get the most out of your insurance investment. First Insurance Company of Hawaii Ltd provides residents of Honolulu with a variety of high-quality insurance products. One of their most popular offerings is the FirstSelect Portfolio (FSP) policy, which makes it easy to bundle coverage according to each client’s specific needs. Visit them online to learn more about FSP and to find an independent agent.