Bundling Coverage: A Case Study

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According to a survey in 2015 conducted by ORC International, 95 percent of homeowners had homeowners insurance. In contrast, only 40 percent of people who lease their home said they had renters insurance. Although this represents an improvement over the previous 29 percent found in a 2011 poll, it still suggests that many people do not understand the risk they are taking.

People in rental housing often think the landlord has it covered. This is partly true: If something bad happens to the building structure, the landlord is responsible for it and likely has appropriate coverage. However, the landlord is not responsible for replacing the contents of the building. In other words, your personal possessions are not covered in the event of fire
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They have budgetary restrictions. In light of that, they are often trying to cut expenses. This may be part of why they do not seek out coverage.

But it makes more sense to think about it from the other end. If you have budgetary constraints, you cannot afford to try to cover a catastrophic loss out of pocket.

At Florinsure, we specialize in comparing coverage to help you save money without making the mistake of foregoing necessary coverage. The comparison process only takes a few minutes. In addition to shopping around, here are a few other tips for saving money on coverage:

Bundling coverage by getting several policies through the same company often gets a discount.
A good credit rating can help keep your premiums down.
Paying quarterly or annually can reduce your premium.
Ask for other discounts, such as senior discounts and nonsmoker discounts.

Additionally, it can make sense to have a video record of your possessions. This can be extremely helpful should you ever need to file a claim. Ideally, it should be stored in a fire proof box or a safe deposit box. It certainly should not be stored at home such that it might be destroyed by the very events that would cause you file a
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