Get a Bundle - Save a Bundle - Nov 01, 2008

There's no shortage of bad news where our economy is concerned these days. While the debate rages on about recessions, bailouts and economic stimulus packages, regular people like us are just trying to figure out what it means to us. In any case, some belt-tightening may be needed in order to stay ahead of the rising cost of living.

When it comes to essential monthly expenses, one area most people can "trim the fat" is by bundling their insurance coverages under one provider. You've probably already done it with your cable and internet services. You might have even rolled your phone services into that bundle. Why? Because combining all three of them using one provider lowers your overall monthly rate. Plus, it's easier to pay one bill rather than three.

The same holds true for insurance. Bundling your services with one provider:
· saves you a significant amount of money in the long run
· makes for more convenient bill-paying
· makes it easier to manage your policies
· makes it easier to understand the nuances of your policies
· makes it simpler to add a new policy in the future
· helps you to establish a relationship with your agent

From an insurer's perspective, your commitment to their company makes them want to shower you with gifts. Well, maybe not shower you with gifts, but they will certainly reward you with lower rates and other advantages.

Plus, studies show that people are typically more satisfied with bundled insurance and are much more inclined to renew their policies than those whose insurance products are spread out over several companies. If you're happy with your provider, why would you switch?

So if you've decided to bundle, then how to shop around for the best one? If you are particularly happy with one agent, start there. Tell them about all of your policies, let them crunch the numbers and give you the details. Then take some time to call a few others to compare the data. The pay-off for your efforts will be lower premiums, plus all of the advantages listed above. Some good questions to ask before making the decision to bundle include:

1. How much of a discount will you give me if I bundle my policies?
   
2. Will your discount apply to the entire amount or to the premium of just one policy?

Before you make your final decision, consider also that you need to feel comfortable with the agent you choose. Ask yourself:

1. Will they offer me one-one-one customer service?
   
2. Will they be there for me when the chips are down?
   
3. Are they reliable?
   
4. What do others say about their service?

It's your money, after all. Saving a bundle on a bundle doesn't mean you have to compromise on customer service.