The Advantages of Having Your Insurance Policies With One Carrier

The Advantages of Having Your Insurance Policies With One Carrier

June 18, 2023

We have more insurance needs than ever at this point in time. In today's society it is incredibly important to protect yourself- provide for your family if you are no longer able, and protect your assets from liability risks. This requires a number of insurance policies. The average consumer may have insurance for their car, home, personal property, business, life, health, disability, etc.

When taking out insurance policies the questions arises as to whether or not the policies should be kept with the same provider or if it is better to use multiple sources to care for your insurance needs. Here are two BIG reasons to keep your insurance under one roof...

A Single Point of Contact:
When you use one insurance company for everything, it makes life simpler. You have one carrier that holds all your policies, therefore there is only on place to contact whenever you have questions or need to file a claim. Having one carrier means less paperwork for you; instead of having multiple files for each company that insures you, your paperwork can be kept in one master file.
This can be especially helpful in the case of needing to file an insurance claim. For example, if you are the one who deals with your family's insurance needs, your spouse may not know which company holds your life insurance and it may be an unnecessary headache for them in the event of a disaster. Bottom line: having everything bundled with one insurance carrier makes life a lot easier.

Multi-Line Discounts:
Insurance is a highly competitive business and the last thing a carrier wants is for you to have some of your policies with another company that may try to steal your business. For this reason, most insurance companies offer multi-line discounts that offer savings if you bundle multiple insurance policies with that single carrier.

The Best of Both Worlds:
Even with multi-line discounts, there may be other scenarios when your insurance needs are more unique and certain carriers are not as competitive in specific areas where you require coverage. However, just because you need to use multiple carriers for the best price, does not mean that you cannot keep your policies with a single agent. When you deal with an independent insurance agency, like Putnam Record Agency, they have access to a variety of insurance carriers. This gives them the ability to shop around for you and match up your insurance needs to the carriers that offer the best coverage and rates that work best for you. And if you do need to have multiple insurance carriers due to the specific type or due to rates, an agent/ single point of contact can ensure that your insurance is organized and can check up on your policies to make sure that you have the best rate and coverage available.