If you're thinking about bundling your home and auto insurance policies, getting quotes and policy specifics from more than one insurance company helps you make a more informed-decision. While you can usually save money by bundling your insurance policies, it helps to know how bundling may fit your needs and budget before you decide whether combining policies will benefit you.

What Bundling Insurance Policies Offers

When you need to buy more than one type of insurance, bundling your policies with the same insurer can often get you better rates and benefits than if you purchase separate policies from different insurance companies. Here are some of the benefits you can take advantage of:

Discounted premiums. Multi-policy discounts can save you money when compared to buying separate policies.

Single deductible. If an event occurs that requires filing a claim on more than one policy, some insurance companies may charge you only one deductible if you bundle your policies. In other words, if a tree falls and damages your garage and the vehicle parked inside, you'll have to file both a home and an auto insurance claim, but you may not have to pay two deductibles.

Billing and payment convenience. When you bundle policies, you'll have a single contract, the same renewal date each year, and one monthly payment for all the policies combined.

Increased customer satisfaction. With a bundled policy, you'll have a single point of contact for serving all your insurance needs–a factor that can save you time. Dealing with one insurance company can help simplify your life with less paperwork and fewer contacts to manage.

What to Consider

While you can generally get discounts when you bundle insurance coverage, factors that affect the cost of bundling policies include:

• Where you live—you can get better bundling deals in some states than in others

• The provider you choose

• Amount of coverage you purchase based on the value of your home and vehicle

• Types of insurance policies you bundle, including any additional coverage you buy, such as for multiple vehicles, additional drivers, and valuable possessions

• Policy limits you select

How to Save More

If you don't own a home, you still may be able to bundle your renters insurance with your auto insurance. You can also bundle term life insurance and policies for boats, motorcycles, recreational vehicles, and even umbrella liability coverage with your home and auto insurance policies. The more policies you bundle, the more money you save by receiving additional discounts.

But while bundling your insurance policies can save you money, it's important to compare quotes from multiple companies as the rates and coverage different insurers offer vary widely. You should also compare policy terms and deductibles to make certain that you are getting the best deal along with the coverage you need. Keep in mind that a good deal isn't necessarily based on premiums alone.

For more information and options, talk with local insurance companies, like Keyes Insurance Services Inc.