Insurance: To bundle or not to bundle

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Bundling your insurance, or buying, say, automobile insurance and homeowners insurance from the same insurer, typically helps you to save money on premiums. A September 2016 report by insuranceQuotes shows that average bundling discounts ranged from 4.5 percent to 23.3 percent, depending on the type of insurance that you sought and your state of residence.

“In most situations, bundling will save consumers money,” says Sean Scaturro of insurer USAA.

However, it still pays to shop around, says Laura Adams of insuranceQuotes. “There may be circumstances when a carrier doesn’t offer all the coverage you need,” she says.

When you shop, you shoul d make sure that the policies that you compare provide the same coverage, Scaturro says.