NEW YORK, May 24 ( Reuters ) – If you believe the multitude of insurance ads you see on television, bundling can save you money. And right now, there may actually be some truth in advertise. One sample quotation from Travelers Cos Inc, for exemplar, showed homeowners could save $ 400 a year by bundling home and car insurance that would cost $ 2,450 individually. Of course, individual savings vary greatly, depending on where you live, what you own, your drive record and even your age. The deals are sweetest for customers who have good credit scores and clean drive records, as policy carriers go hot-and-heavy after them to buy packages of their car and family policy ( vitamin a well as life and other policies ). even specialized carriers such as Geico Corp, which focuses on car insurance, are teaming up with other carriers, like Travelers, to offer homeowners policy.

With indemnity prices on the arise ( up 2.9 percentage on car and 3.4 percentage on home over last year, according to research tauten Stifel Nicolaus ), indemnity analysts say it is time to capitalize on this despair to get your clientele. It ’ s a army for the liberation of rwanda shout from fair a few years ago. “ It ’ s dry because insurers had been pretty aggressive about unbundling for a long clock time, ” said John Lucker, a principal at Deloitte Consulting LLP who studies the insurance market. “ Following the fiscal meltdown, the market grew easy. nowadays companies are looking to grow, and the easiest way is to sell more product to the customers they already have. ” Rising expenses from natural disasters and the reluctance of customers to switch carriers are besides driving the drift. The losses are forcing policy companies to seek raw and more profitable occupation to fill in the holes .

SAVINGS

The good news for consumers is that the new position of insurers can translate into better deals. “ You ’ re going to save money by bundling, ” said Wade Chance, an assistant frailty president of car merchandise management at USAA. The best way to find out what rates are available ? “ Shop it. Shop it every year, ” said Rick Rodgers, a fiscal adviser based in Lancaster, Pennsylvania, and writer of “ The New three-legged Stool : A Tax Efficient Approach to Retirement Planning. But consumer advocates note that pack is not constantly the suffice. Andrew Schrage, co-owner of Money Crashers Personal Finance, a personal finance advice company, said he shops about once or twice a year, but he actually has not moved his car policy for seven years because no one has been able to match the rate. He does not bundle his policies for that reason. “ I found that I could get cheaper premiums by spreading out my policies among several companies, ” he said.

And discounts might not seem so great if you have already moved your policies around in the last few years. In the J.D. Power and Associates 2012 U.S. Insurance Shopping Study, published in April, only 25 percentage of those surveyed identified themselves as shopping for indemnity in the past class, down 8 percentage from death year ’ sulfur study. Robert Hunter, conductor of policy for the Consumer Federation of America, suggests a action of elimination to find the best rates, which takes about an hour. For those who take shortcuts and boil the search depressed to 15 minutes, or one telephone call to an on-line collector, or precisely directly to one ship’s company – as you might be persuaded if you listen to commercials – you are probably paying excessively much. begin with country websites and attend at home and car rates to pick a few of the lowest, he said. then look at the charge ratios for those to narrow it down further. Call the lead two or three to get quotes, asking a lot of questions about the specific policy coverages to make certain you are comparing apples to apples. besides make sure to get quotes individually for car and family, and besides bundled prices, because you may save money by going with two different carriers. A report from LIMRA, a financial-services trade association, found that only 37 percentage bundled car and home insurance. “ After I ’ ve done all that, I ’ ll go to two agents and say give me your best softwood, ” said Hunter. “ I find sometimes they can win, but not normally. ”

STORMY WEATHER

The deals on the postpone now might not last long, however. With hurricane season on the horizon, policy analysts predict prices will keep going up. With more homes in tornado paths and more coastal place, there is bound to be catastrophic wrong even if there are the same number of storms. Allstate Corp, for model, lost $ 280 million in April on natural disasters, more than it lost in the first three months of the year combined. It is aggressively marketing bundling. “ You can constantly have a debate about global warming, but in the past, you didn ’ t have 20 homes in a subsection in the path of a crack. It was just an empty field, ” said Brad Lemons, frailty president of property at top10carinsurance.com.

“ Rates have been excessively first gear for besides long, ” said Lucker. “ If your investment returns are not strong, you ’ ve got to generate more capital or you go out of business. ” For now, companies are responding by ramping up even more advertise to push consumers to bundle policies, spending $ 5.7 billion on advertise in 2011, up 12 percentage from the former year, according to the J.D. Power study. Said USAA ’ s Chance : “ There ’ s an arms race for who can put the most impressions out in front man of consumers. ”

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