Insurance Bundle: Definition
The term Insurance Bundle means that a customer has more than one insurance product with the same insurance company (e.g. home and auto insurance). Normally insurance companies offer more than one insurance product and therefore they are interested in selling multiple products to one customer. In order to encourage customers to buy more products from them, insurers often suggest several products in a bundle that offer some discount (also called bundle discounts).
Most property and casualty insurance companies tend to actively sell home and auto insurance products, but they may also offer bundles with products such as boat insurance, seasonal home insurance, RV insurance, and motorcycle insurance, etc.
Insurance Bundle: Recommendation
When searching for insurance, it is helpful to consider bundle discounts offered by insurers. Typically a bundle can save 5-10% on an insurance policy’s premiums, but most property and casualty insurers offer these discounts and thus it is more important to get insurance quotes first. Calculate the bundle savings after getting quotes, as opposed to going to the insurer that claims to offer high bundle discounts. Example:
Bundle Discount of 5% on quote of $1,800 per year means that your rate will be $1,710
Bundle Discount of 8% on quote of $2,000 per year means that your rate will be $1,900
- Interested to save on your auto insurance? Get a free quote today
- Discover the lowest auto insurance rate across numerous insurance companies
- Spend 15 min to start saving hundreds of dollars annually
Get a free Auto Insurance quote from 10+ Canadian insurers in Alberta
Our Publications related to Auto Insurance
What Analysis of 4,000+ Car Insurance Consumer Reviews Reveals about Canadian Insurers
Background: The last two years have been marked by unprecedented challenges due to the pandemic, both for consumers and companies. Despite the pandemic, life continued, and Canadians were driving cars, were buying or renting houses, going to a doctor and continued doing many other things related to insurance. As the largest Canadian insurance review platform, […]
Introducing a New Tool to Find Out What Issues Canadian Face with Their Insurers
The arrival of COVID-19 has pushed Canadians, more than ever before, online for finding and applying for insurance and banking products. It is not easy, though, to make the right choice without knowing if a particular insurer will be there when you need them the most. As the largest Canadian review platform with thousands of […]
Car Insurance in Alberta – Top Media Stories, Spring 2017
Here are two summaries of top Alberta Car Insurance stories that were published in March and May 2017 in Canadian media outlets: CBC News Edmonton: Insurance company offers $5,500 for truck appraised at more than $40,000 (click to scroll to the story summary) Simcoe Reformer: Changes to benefit entitlement in 2016 adds to family’s struggle […]
Cheap Car Insurance – 7 Things to Know if You Are New to Canada
Something that is quite straight forward for Canadians often turns out to be more complicated for those who are new to Canada. Searching for auto insurance and getting a cheap car insurance policy is one such issue, but we are here to help. Here are some questions you need to answer and steps you need […]
111 Insurance Myths – Everything You Must Know
Hundreds of websites on the Internet perpetuate insurance myths. In this article, we have summarized all the insurance myths we are aware of and catalogued them by type, starting with home insurance, followed by auto insurance, life Insurance etc. If interested, you can unlock another 20 additional insurance myths at the end of our article. […]