Can I save money with a multi-policy discount?

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Another way I hear this question asked is; if I bundle my auto and home insurance with you, will I get a discount? It’s a great question, and there are companies out there that offer discounts if you purchase both your auto and homeowners insurance with them.   However, it’s usually the captive agencies that offer it. Captive agents sell for just one company, generally one with a familiar name that has been built up with a tremendous amount of advertising, but in the end, you are just buying a brand. They will provide one quote from one company, and it may or may not include a multi-policy discount.

Your best rate will almost always come from an independent agency. An independent insurance agency like L&M Insurance Group will offer you the most choices in coverage options and prices. Independent agencies represent more than just one national brand–for instance L&M Insurance Group represents more than 40 different insurance carriers.   We know it’s convenient for you to have all your insurance with one agency, and that’s why we work so hard to make sure we represent the best companies with the lowest rates for all types of insurance–your car insurance, home insurance, commercial insurance, renters insurance, and life insurance.Image result for independent vs captive insurance agency

A couple of months back, I got a call from someone looking for a better rate on his homeowners insurance and a rental property he owned as well. He was insured with a national brand insurance company that you would recognize instantly. The individual believed he was getting a great rate because he was told he would get a “special” rate for bundling his insurance. When I finished quoting and writing his two properties, I was able to save him THOUSANDS of dollars–that’s how much he was overpaying.   He was shocked and thrilled at the same time.

I have been licensed to write insurance for 24 years and during this time I can honestly say I rarely see where a policy could be lower in price bundled than if you quoted both out separately. I have found that the companies that bundle either offer a decent homeowner insurance rate and kill you on your auto premiums or offer decent auto premiums and have horrible home insurance rates. Think about it for a moment–if their rates are so great on both auto and home, why do they need to give a bundling discount?   Because it’s a great marketing gimmick and they make more money!


J.D. Power and Associates’ 2011 U.S. National Auto Insurance Study found that customers who had auto and home insurance policies with two different companies were more satisfied with what they’re paying for auto insurance than customers who bundled their auto and home insurance policies.


Of course, we at L&M Insurance Group would love to write all your policies–and it’s convenient for you to have all your policies in one place. Our focus will not be on who will offer a bundled price, it will be on how can we write all your insurance for the lowest price, the best coverage and with the best carriers. We represent your interests as an independent agency–unlike a call center or direct writer that writes with just one national brand.

So the answer is no, I don’t believe you can save money taking advantage of a bundling discount. But you can save money if you shop with an independent agent like me.   So give me a call–you will never find someone who will work harder to save you money and protect your interests.   Click this link to send me an email or call me today at 813-672-4100

Larry Johnson
Larry Johnson brings over 23 years of experience writing insurance. He was the owner of Larry Johnson Insurance in Brandon for 13 years, and after selling his agency and taking some time off, he has joined L&M Insurance Group. Larry is excited to be back working with clients meeting their personal lines insurance needs. Call 813-672-4100 to get started

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