How Bundling Policies Saves Businesses Money on Insurance

Business owners are always looking for ways to cut costs without cutting corners. One often overlooked strategy is bundling insurance policies.

Why Should I Bundle Policies for My Business?

Bundling means combining different insurance coverages under a single provider. Doing so may qualify your business for discounts that wouldn’t be available if you purchase each policy separately. Having your coverage in one place can make things easier when questions or claims arise.

Policies commonly bundled by businesses include the following:

• General liability insurance

• Commercial property insurance

• Business interruption insurance

• Commercial auto insurance 

• Workers’ compensation insurance

• Professional liability insurance

• Cyber liability insurance

What Are Potential Drawbacks to Bundling Business Insurance?

Bundling is not always the right fit for every business. Consider the following factors before committing:

• Less flexibility—Bundling may limit your ability to choose different providers with more favorable terms for individual policies.

• One-size-fits-all limitations—Some bundled packages might not perfectly suit the specific needs of your industry or operation.

• Overlooking better rates elsewhere—By focusing on bundling, you might miss out on more competitive pricing or stronger benefits available from other insurers.

• Challenging to switch later—If you need to change one part of your coverage, it could be more complicated when all your policies are tied together.

Learn More

Vela Auto Insurance can help you get business insurance coverage at favorable rates. Contact us today to learn more.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.