Tel: 619-259-5459
Competitive Edge Insurance
  • Construction
  • Business
    • Health and Wellness Insurance
    • Cyber Liability
    • Bonding
    • General Business Insurance
    • EIDL Insurance Requirements
  • Personal Lines
    • Auto Insurance
    • Boat Insurance
    • Homeowners Insurance
  • About Us
  • Resources
    • Articles and Insights
    • Trusted Advisors
  • Contact
  • Menu Menu
  • LinkedIn
  • Instagram
  • Facebook
  • Youtube
Bundling Insurance: Pros and Cons

Bundling Insurance: Pros and Cons

in General Business Insurance, News

If you’ve ever seen a Geico or Progressive commercial, you have probably heard the term “bundling insurance” thrown around, but is it actually worth it as a commercial provider? 

Bundling insurance is when you choose to get multiple faucets of insurance through the same company. While it can sometimes save you money, there are potential downfalls as well. 

Pros of Bundling Insurance

For commercial insurance, the pros of bundling your insurance might include: 

Higher Savings 

There are multi-policy discounts that might be applied to your bundled insurance. Depending on the provider and your personal preference, the discount can range anywhere from 5 to 25%.

Less Clutter 

Mehmet Murat Ildan said, “If you have a complex life, make it simple; if you have a simple life, continue it that way!” 

If you’re a small business owner, the concept of a simple life might be long gone—the pursuit of your passion can take up all the hours in the day. This is why finding small ways to declutter your life is crucial to finding balance.

Bundling your insurance might be a small way to organize your life and finances.

Insurance Security 

If you make any claims on one type of insurance but are covered by the same company for another type, you are less likely to be dropped by them.

Cons of Bundling Insurance

Not Always Cheaper

While one of the main draws towards bundling insurance is saving money, there are cases where this isn’t the case. However, this all depends on your history. If you have a poor credit score or traffic violations, this might hinder your chances of getting a higher discount for bundling (likely in the 5% range compared to 20%). 

You’re Stuck

If you choose to bundle your insurance through the same company, there isn’t a ton of room to look for other rates. If you’re bundling your insurance through the same company, they might raise your rates without much room for discussion.

Keep in Mind

If you do feel like bundling your insurance, there are some guidelines you can follow to ensure you understand what you’re getting into (even though there are short and long-term benefits of bundling).

  • Evaluate all third-party options
  • Compare quotes
  • Keep an open mind 

Contact us at Competitive Edge today for information on bundling insurance!

Tags: 2021 construction risk, builders risk, competitive edge, competitive edge insurance, construction, construction outlook, coverage, cybersecurity
Share this entry
  • Share on Facebook
  • Share on X
  • Share on X
  • Share on LinkedIn
https://compedgeins.com/wp-content/uploads/2021/08/iStock-1183724539.jpg 1414 2121 https://compedgeins.com/wp-content/uploads/2020/11/logoweb.png 2021-09-20 13:17:002021-11-01 16:07:28Bundling Insurance: Pros and Cons
You might also like
Cannabis or Hemp Insurance — What's the difference?Cannabis or Hemp Insurance — What’s the difference?
Coins on a table, a red up arrow and wooden house.Why Increases in Inflation Might Mean that Your House is Underinsured
Cyber Security Image by Anderson Piza at Envato Elements | Licensed6 Current Cyber Threats Companies Face: How to Stay Safe
Small Business Insurance: A GuideSmall Business Insurance: A Guide
Which of these will reduce my Commercial insurance premiums?What Factors Reduce My Commercial Insurance Premiums?
Black and White Photo of a man writing a contractEPLI: Does Your Construction Business Need It?
The Four Types of Insurance Coverage for your BusinessFour Types of Insurance Coverage for your Business
What's happening with EIDL?What’s happening with EIDL?

CATEGORIES

RECENT POSTS

  • Cyber Security Image by Anderson Piza at Envato Elements | Licensed
    6 Current Cyber Threats Companies Face: How to Stay Safe
  • Insurance Form Image by rfaizal707 at Envato ElementsEnvato Elements by rfaizal707
    Understanding the Hard Insurance Market and Its Impact on You
  • Black and White Photo of a man writing a contract
    EPLI: Does Your Construction Business Need It?

CONNECT WITH US

VIDEO POSTS

  • City view of commercial buildings, including skyscrapers surrounded by trees
    How to COPE in an Inflationary Environment
  • Coronado bridge aerial view
    Get to Know Our Founder: Her Rotary Involvement
  • Insurtech holographic image with man using ipad
    The Coverage Pitfalls of Insurtech
LET’S TALK

WANT TO KNOW HOW MUCH YOU COULD BE SAVING ON YOUR INSURANCE COSTS?

WANT TO KNOW HOW MUCH YOU COULD BE SAVING ON YOUR INSURANCE COSTS?

LET’S TALK

Connect With Us

Competitive Edge Insurance

LIC #0H31982

P: 619-259-5459
F: 619-377-0144

830 Orange Ave Suite L Coronado, CA 92118

Privacy Policy

Hours of Operation

Monday – Friday 8:00AM – 5:00PM

Saturday Closed

Sunday Closed

© Copyright 2021- Competitive Edge Insurance

site design by digitalstoryteller.io

© Copyright 2021- Competitive Edge Insurance
site design by digitalstoryteller.io

Four Types of Insurance Coverage for your BusinessThe Four Types of Insurance Coverage for your BusinessHiring in California: How to Reduce Your RiskHiring in California: How to Reduce Your Risk Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

Accept settings

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Google Analytics Cookies

These cookies collect information that is used either in aggregate form to help us understand how our website is being used or how effective our marketing campaigns are, or to help us customize our website and application for you in order to enhance your experience.

If you do not want that we track your visit to our site you can disable tracking in your browser here:

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Other cookies

The following cookies are also needed - You can choose if you want to allow them:

Privacy Policy

You can read about our cookies and privacy settings in detail on our Privacy Policy Page.

Privacy Policy
Accept settings