Advantages of Keeping All of Your Insurance Policies With One Carrier

These days Americans have more insurance needs than ever before. In today’s litigious society, it is important to protect yourself, provide for your family if you are no longer able, and protect your assets from liability exposure. This requires a number of insurance policies. The typical consumer may have insurance for their automobile, home, personal property, business, life, health, disability, etc.

When taking out insurance policies, the question often arises whether they should all be kept with the same provider or if it is better to use multiple sources from which to take care of your insurance needs. Here are two major reasons to consider keeping your insurance policies under one roof.

One Single Point of Contact: When you deal with one insurance company for everything, it makes your life simpler. You have one carrier that holds all your policies, therefore there is only one place to contact whenever you have questions or need to file a claim. In addition, having one carrier means less paperwork for you. Instead of keeping multiple files for each company that insures you, your paperwork can be kept in one master file.

This can be especially helpful in the case of needing to file a life insurance claim. For example, if you are the one who deals with everything, your spouse may not know which company holds your life insurance and it may take some digging to figure this out in the event of a worse case scenario. Bottom line: having everything bundled with one insurance carrier makes life a lot easier.

Multi-Line Discounts: Insurance is a highly competitive business and the last thing a carrier wants is for you to have some of your policies with another company that may try to steal you away. For this reason, most insurance companies offer multi-line discounts that offer savings if you bundle multiple insurance policies with that one carrier.

The Best of Both Worlds: Even with multi-line discounts, there may be instances when your insurance needs are more specialized and certain carriers are not as competitive in some areas where you need coverage. However, just because you need to use multiple carriers for the best price does not mean you cannot keep everything with one agent. When you deal with an independent insurance agency, they generally have access to 15 to 20 (or more) of the top insurance carriers in your state. This gives them the ability to shop around for you and match up your insurance needs to the carriers that offer the best coverage and rates. This way, you can receive the very best pricing even if it means using multiple carriers and still have one single agent/point of contact to help you keep everything organized.