How You Can Save Money With Combined Insurance Policies
Insurance can get complex and take up a lot of time, yet we all need it to safeguard our future. An easy way to save time and money is by combining your Home and Car Insurance policies. Instead of managing two or more policies, you can now easily deal with just one. Here’s how it works.
What is Bundling Car and Home Insurance?
“Bundling” is the word insurers use to describe putting multiple types of insurance on a policy from one insurance provider. When you take out multiple types of insurance from the same insurance provider, it can also be called “combining insurance policies”.
Is Combining Home Contents and Car Insurance a Good Idea?
In most cases, combining home contents and car insurance into one bundled policy is a great idea. Most insurers want you to take out all the different kinds of insurance you need with them, so they aim to reward people who have multiple policies with them. Usually, when you have a few policies with one provider, they can bundle it into a package with extra benefits and discounts!
Are There financial Benefits to Combining Car and Home Contents Insurance?
Yes, there are also financial benefits to combining your home contents and car insurance! The benefits will differ depending on what your insurance provider is offering, but most of the major insurance providers in South Africa can sweeten the deal if you choose to get your car insurance and home insurance with them.
Here Are Some Benefits You Can Enjoy When Bundling Home Contents and Car Insurance
1. Get a simpler insurance experience. Combining all your policies can make things easier on you, the insured. Instead of trying to manage multiple insurance policies, you can now manage just one. When the time comes to renew your insurance, you only have to renew one policy, not more. In every way, having one combine insurance policy instead of two cuts the work in half. Claims are also easier, with only one insurance provider who can see to claims for damage to your home and car at the same time.
2. Get discounts on your home contents and car insurance. Because insurers want to encourage your loyalty and serve you for all your insurance needs, they are often keen to reward you for combining your policies. You’re likely to get great discounts on your rates. The discounts you get will depend on the insurance provider. Rewards differ, but they’re there. Get ready for cheaper, easier insurance!
3. Get simplified monthly payments. When you bundle car and home contents insurance, you only need to make one payment each month instead of two. That means you cut the work in half, and you can also save on banking fees.
4. Get smaller or fewer co-payments where relevant. Not all policies are comprehensive, and even comprehensive insurance policies have exclusions. When your insurance provider only covers a portion of what’s needed, you often need to pay up. In other situations, your insurance provider may require a co-payment or deductible when you make a claim. By bundling your policies, you could end up with a smaller co-payment because your insurance provider has reduced it.
Should you need to claim for your home contents and car simultaneously, you can enjoy the benefit of only having to pay one reduced co-payment instead of two. This could save you thousands of Rands!
5. Get extra benefits added to your policy. That’s right, providers offer discounts and extra benefits to insurers who bundle their policies. The benefits depend on the provider, for example, you could get extra liability cover for your home! To find out what you might be missing out on, you can get quotes online for combined insurance packages.
There you have it. Less paperwork, more cash in your pocket, and other added benefits can be yours today. Taking the step to bundle your home contents and car insurance is one of the smartest moves you can make. Your future can be protected, and your pocket and stress levels can benefit too! Find the right Combined Home Contents and Car Insurance policy and provider for you today.
DISCLAIMER: The information provided in this article is meant for informational purposes only and should not be construed as legal, medical, or financial advice. Facts stated in this article are correct at the time it was published.
Sources: santam; businesstech; hdfinsurance;