If you need a discount, get your new insurance policy from the same insurer you bought your other policies from. Every insurance company will normally offer a discount if you buy more than one policy from their company.
That said, it may not serve your best interest to do this as you might have more savings if you buy each of your policies from different insurers. I will take some time out to explain this...
We'll make a few assumptions on the quotes returned for a particular individual just for clarification purposes. Viz...
Insurer A...
Auto insurance: $2,487
Home insurance: $1,400
Health insurance: $2,320
Insurer B...
Auto insurance: $1,472
Home insurance: $2,120
Health insurance: $2,724
Insurer C...
Auto insurance: $3,500
Home insurance: $2,080
Health insurance: $1,640
You can plainly see that even though Insurer B offers this person the best rate for auto insurance it didn't have the best quotes for the other insurance policies..
So this is what he'd pay on the whole with a 10 percent discount if he goes ahead to still get the three policies from Insurer B...
$1,472 + $2,120 + $2,72 = $6,316
$6316 - (ten percent of $6316) = $5,684.40
However, if he buys from insurers who offer him the cheapest rates for each policy his total insurance spend would be...
$1,400 + $1,472 + $1,640 = $4,512
You can see that even though getting health and home insurance from the auto insurance provider may result in multi-policy discounts, he'd realize bigger savings by getting each policy from several insurers.
Saving as much as $1,172.40 is not one that should be passed off.
So do you know which would be best for your profile?
The way out is quite easy...
Obtain quotes for each policy from different trusted quotes sites. Contrast the amount you'll pay by buying from insurers who have most affordable quote for each policy with what your agent says you'll get as multi-policy discount for buying from one insurance company. - 15224
That said, it may not serve your best interest to do this as you might have more savings if you buy each of your policies from different insurers. I will take some time out to explain this...
We'll make a few assumptions on the quotes returned for a particular individual just for clarification purposes. Viz...
Insurer A...
Auto insurance: $2,487
Home insurance: $1,400
Health insurance: $2,320
Insurer B...
Auto insurance: $1,472
Home insurance: $2,120
Health insurance: $2,724
Insurer C...
Auto insurance: $3,500
Home insurance: $2,080
Health insurance: $1,640
You can plainly see that even though Insurer B offers this person the best rate for auto insurance it didn't have the best quotes for the other insurance policies..
So this is what he'd pay on the whole with a 10 percent discount if he goes ahead to still get the three policies from Insurer B...
$1,472 + $2,120 + $2,72 = $6,316
$6316 - (ten percent of $6316) = $5,684.40
However, if he buys from insurers who offer him the cheapest rates for each policy his total insurance spend would be...
$1,400 + $1,472 + $1,640 = $4,512
You can see that even though getting health and home insurance from the auto insurance provider may result in multi-policy discounts, he'd realize bigger savings by getting each policy from several insurers.
Saving as much as $1,172.40 is not one that should be passed off.
So do you know which would be best for your profile?
The way out is quite easy...
Obtain quotes for each policy from different trusted quotes sites. Contrast the amount you'll pay by buying from insurers who have most affordable quote for each policy with what your agent says you'll get as multi-policy discount for buying from one insurance company. - 15224
About the Author:
To start saving much more click here: Affordable Auto Insurance and Discount Auto Insurance. Chimezirim Odimba writes on financial matters.
