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Pros & cons of bundling your car & renters insurance

Mediafeed Logo By Zack Sigel of Mediafeed | Slide 1 of 9: Bundling is touted as a way to save money on insurance, since most carriers give discounts to people who buy more than one policy from them. You can bundle most types of insurance, but one of the more common offers (sometimes called a multiple-plan discount) involves bundling your car insurance and renters insurance. But renters insurance and car insurance are two very different types of plans.So is bundling them a good idea? It depends.It’s often cheaper to buy through one carrier instead of buying individual policies from different companies, the same way it’s often cheaper to buy cable and internet in one package than it is to buy them separately.Insurance companies have great incentive to promote bundling because they get more business from you. In return, you can get a discount for combining your policies, plus some other perks that make bundling hard to pass up. But it isn’t always the smartest idea, since the savings may come at a cost. Either way, it's first important to know how to make this happen.

Bundling your renters & car insurance is not for everyone

Bundling is touted as a way to save money on insurance, since most carriers give discounts to people who buy more than one policy from them. You can bundle most types of insurance, but one of the more common offers (sometimes called a multiple-plan discount) involves bundling your car insurance and renters insurance. But renters insurance and car insurance are two very different types of plans.

So is bundling them a good idea? It depends.

It’s often cheaper to buy through one carrier instead of buying individual policies from different companies, the same way it’s often cheaper to buy cable and internet in one package than it is to buy them separately.Insurance companies have great incentive to promote bundling because they get more business from you. In return, you can get a discount for combining your policies, plus some other perks that make bundling hard to pass up. But it isn’t always the smartest idea, since the savings may come at a cost.

Either way, it's first important to know how to make this happen.

© RyanJLane

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