What is an insurance pool?
Bundle insurance, sometimes referred to as multi-policy discounting, is a common way to save money on all your insurance needs. While bundling probably won’t save you money specifically on your renter’s insurance, it can help lower your total bill for all your insurance policies.
Bundling is primarily a sales and marketing strategy commonly used by insurance companies. According to United Policyholders, a nonprofit organization that helps educate consumers about the insurance industry, companies are promoting packages because it benefits them.
There are definitely benefits to combining insurance policies, but it’s important to make sure the benefits of combining don’t outweigh the disadvantages. Some experts warn that bundling may ultimately benefit insurance companies more than consumers.