Do you have questions about car and home insurance? At Heinen Insurance, we’ve heard all kinds of them. Questions about a “Package Insurance Policy” is one subject that has sparked the curiosity of many savvy homeowners and drivers. They want to know What in the world is package insurance and how can it save me money? Continue reading to learn what package insurance is and how it could be one of the best-kept secrets in the insurance industry.
Understanding Package Insurance
Package insurance is an insurance product that combines more than one line of coverage into a single policy purchased through one insurance company. Unlike individual policies purchased through the same company, package insurance covers a wide range of risk exposure with just one deductible and a single bill.
Package insurance comes with plenty of options that make it customizable to your needs and lifestyle. Your coverage is not limited to home and auto; nearly any type of coverage can be added to an insurance package. Imagine being able to travel anywhere in the world knowing that you have liability insurance no matter where you are. That is the type of assurance that can come with package insurance.
Not only can you include various types of coverage, but the policy limitations and benefits are often more generous for package insurance than they are for individual policies. In general, people who purchase package insurance tend to enjoy a higher level of coverage and comprehensive protection.
Some of the coverage types you may be able to add to package insurance include:
- Special Valuables
- Identity Theft Resolution
- Small Business
- Investment Property
How Package Insurance Saves You Time and Money
Even if you only have car and home insurance, combining them into a package policy could make sense if you are looking for ways to save time and money on comprehensive coverage. The simplicity of having just one bill to pay and one policy to manage may seem like less of a headache than managing multiple lines of coverage – even from the same carrier.
Another benefit is the potential savings on future claims. Having just one deductible means that you could save money if both your car and home are damaged in the same covered event. In other words, if Junior drives the family car through the dining room or a fire simultaneously destroys your home and vehicle, you would only be responsible for one deductible instead of two.
Grouping coverage together provides all the benefits of individual policies, generally with greater protection against personal loss and liability. Think of it as blanket coverage that insures everything important in your life. Unlike individual policies, the underwriter will review all of your assets and risk exposure at the same time, providing a more complete view of your overall needs.
Is Package Car and Home Insurance Right for You?
If you are in the market for new car or home insurance, talk to Heinen Insurance before choosing your coverage. You may find that a package policy better provides for your insurance needs than a conventional, individual policy.