If you need a discount, buy your new insurance policy from the same insurer you bought your other policies from. All insurance companies will typically offer a discount if you buy more than one policy from them.

However, it may not serve your best interest to do this as you might be better off if you buy each policy from different insurers. I will shed more light on this…

We will make-believe that a certain profile received the following rates from several insurers when he shopped for different policies…

Insurer A…

Auto insurance: $2,487

Home insurance: $1,400

Health insurance: $2,320

Insurer B…

Auto insurance: $1,472

Home insurance: $2,120

Health insurance: $2,724

Insurer C…

Auto insurance: $3,500

Home insurance: $2,080

Health insurance: $1,640

You can clearly see that even though Insurer B gives this person the best rate for auto insurance it did not have the lowest rates for the other insurance policies..

If we assume that he buys the 3 policies from Insurer B and receives a ten percent multi-policy discount, his total would be…

$1,472 + $2,120 + $2,72 = $6,316

$6316 - (10 percent of $6316) = $5,684.40

But see what he would spend if he buys each policy from the insurer with the most affordable quote for each policy…

$1,400 + $1,472 + $1,640 = $4,512

So Though he gets a multi-policy discount if he buys all his policies from a particular he will not save as much as he saved by buying from different insurers.

Saving as much as $1,172.40 is not one that should be passed off.

So do you know which would yield more savings in your case?

All that you need to do is only a simple step that will take you only a few minutes…

Create some time to get and compare quotes for each of your different insurance policies from at least three insurance quotes sites. Find out what you will get as multi-policy discount and compare it with what you will spend if you buy from different insurance companies.

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