Auto and Home Bundle

Many people are unaware of bundle insurance coverage and how it works. If you have home, car, and boat cover with one company, this package is known as "bundle insurance" and you can make a one-time claim that covers all three policies at the same time – without paying any additional costs. There's just one premium to pay for all three types of insurance coverage.

The more you bundle, the lower your premiums are likely to be. If you have auto and home insurance, for example, but then you decide to add boat coverage as well, your premiums will drop by about 15% on average since this is an additional coverage. But you should check with your insurance company before you sign up to make sure that this is the case for your policy.

There are several reasons why you should consider getting bundle insurance. For example, if you were to claim on your individual policies for both life and disability together, the total amount of money you receive would be less than if you had purchased a bundled policy. And it's unlikely that your insurer would offer you such a deal just because it's the right thing to do.

It is easy to apply for a bundled policy with the help of an independent insurance agent or broker who will guide you through the process and make sure that everything goes as smoothly as possible. Or you can just call them in case you have any questions about rates, coverage.

If you already own a home, it is likely that your mortgage provider will require that you have bundle coverage. If this is the case, then yes, you will need to be a homeowner to buy bundle insurance. Fortunately for those who are unable to afford a home yet, there are some insurers who do offer bundle policies even though you have no home. They will even allow you to bundle your car and boat with them – if you're a minimum of 18 years old, have a valid driver's license in Canada, and have owned your vehicle for more than six months.

Yes, you can. You also may save since you have one insurance company handling your insurance exposure.

It does. If a natural disaster occurs, like a fire or an earthquake, then you can make one claim for all three types of insurance coverage and not pay any additional costs.