How I Personally Saved Money Bundling My Insurance Policies
Posted on: 10 October 2014 by William Freddy Hope
Nowadays more so than ever insurance is not just needed but required by law. Therefore paying the lowest price is everyone goal in the insurance companies game. Here is what I found out when I went about looking to bundle them up with one broker to bring the price and hassle right down/
I recently needed to take out home insurance and my car insurance policy was due to lapse soon as well. While looking through the usual sites for the best options online, I found that actually bundling the two policies with the same company worked out cheaper. I saved around £150 over the price I would have paid if I’d bought from the two cheapest options separately. By choosing to combine my two claims with Axa, I didn’t even need to wait for the renewal date to earn my discount.
How Does it Work?
Insurance companies offer multiple types of insurance to attract customers who are looking for more than one type of cover. Some of these companies, though, can also offer cheaper rates to insure both your house, vehicle, and other kind of cover. If you, or someone living with you at the same address, add a second car, the prices will be further reduced so the savings just keep adding up. This way, the company rewards you for your loyalty, rather than leaving the best deals for new customers only and forcing you to keeping changing providers every year.
Why I Decided to Switch
So what are the major benefits with combining your insurance policies? Well, for me, having to deal with just one company for all my insurance needs just makes things a lot easier. I’m always forgetting renewal dates so only having to keep track of one means there’s no chance of it lapsing. Now I only have to make one monthly payment to a single company, too, so I’m on top of my bank balance a lot more. If worse comes to worst and I have any problems, or just some questions about my cover, I can contact one source for all my answers.
How Much Could You Save?
The biggest advantage to bundling, though, is of course the money you’ll save. The average UK household can save over £413 a year by bundling their TV, internet, and phone packages with one service provider, and the savings don’t stop there. Axa can offer a further 30% off certain policies if you buy online, with savings on vehicle insurance, home insurance, and cover for your business. They even have a quick quote service on their website to get you started right away.
Looking for more ways that you could save money? Take a look at the other money and finance blogs.