The Advantage of Using a Single Insurance Company

Posted September 13th, 2010
by Staff (no comments)

Many of us have our homeowners insurance through one company, our auto insurance through another, and our life and health policies through yet a different insurance company. While there’s nothing wrong with that, in and of itself, there are several advantages to carrying multiple lines of insurance through a single company. Here are some of the main ones:

  • Convenience: It’s simply more convenient to do all of your business through one company. It saves you having to write multiple checks for multiple policies, allowing you to write out a single check in many instances.
  • Rapport: This goes both ways. You develop a rapport with the insurance agent, who has a vested interest in keeping your business, and he develops a rapport with you by taking care of claims promptly. We guarantee you that no insurance agent wants to lose a client who has more than just their homeowners insurance through his company.
  • Easier Claims: While there is always going to be a claims process, involving an insurance adjuster, except with life insurance claims (dead is dead, pretty straight forward), your agent will see to it that the process is expedited if he knows that you are a solid client.
  • Multiple Line Discounts: Many insurance companies offer discounts if you have several types of insurance with them. If your insurance company doesn’t, consider changing insurance companies. If you take all of your homeowners, auto, boat, life, and other insurance needs to the same place, the least they can do is offer you a discount.
  • A more knowledgeable agent: Most of the best insurance agents deal with all lines of insurance. Agents who work with multiple lines tend to be the ones who have the most invested in their career, and tend to be more knowledgeable than others who may just be trying out the insurance game.

No one is saying that you should automatically give all of your business to the same company. Every now and again, it is a good idea to shop around for insurance rates, just to keep your current company honest. And, if you find a rate that is considerably cheaper than what you are getting, it may be in your best interest to go ahead and take it, assuming the coverage is similar.

Still, in most cases, you come out ahead by taking all of your business to a single insurance agent and company. If you don’t believe us, compare prices and see.

Image by greenkozi

Categories: Insurance Tips

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