Sticking with one agent might just do the trick.
When looking for the right insurance policy, you are usually looking for the the best price. Meanwhile the agent is usually looking for and are most concerned with getting you the most adequate protection. Having your insurance with one agent maximizes both situation.
You not only get the best price, you also get the best protection for your situation.
Best price – In most cases, putting all your policies with one agent will allow them to use one company for all your policies. In return, that company will offer discounted rates for writing all your coverage.
Example: Most companies that write both your auto and homeowners insurance will give a 20-30% discount on the home and 10-20% discount on the auto. Those are major savings!
Best protection – Not all families or businesses are the same. Having all your policies with one agent allows the agent to know your complete situation, and your need for the best protection for you and your situation. It’s almost like having a primary care family doctor.
Example: If you earn middle-class income and own a moderate home with of couple of average-priced cars your coverages may not need to be as high as someone who lives in a high value home with a couple BMWs. One agent knowing your whole picture allows them to know what coverages you need to adequately protect you. This also ensures that you don’t pay for things you may not need.
Packaging for protection and bundling for a discount. Is there a difference?
Keep in mind that agents may look at saving you money, and protecting you differently. There is an order of operations; one is the wrong way and the other is the right way.
Packaging your policies for protection means that you are looking for the best policy with the best company for your family or business situation. Targeting the right protection with the right company first, then acquiring the discounts from that company for helping you with all your policies is packaging. This is what we at MidTown Insurance would recommend.
Bundling your policies to get a discount means that you are targeting price to determine your coverage which means you may not be using the right company for your situation and/or getting the correct coverage for the money you are paying. We know price is key, but bundling just for a discount could be a little bit negligent.
When you have your insurance policies with one agent, the benefits maximize both your protection and wallet.