Most of us use the same insurance companies our parents used, never really thinking about switching. We may shop around to save a few bucks but with our busy lives, it's not on the top of our need to do list. Typically, we start buying auto insurance and as we get older we either buy renters or homeowners insurance as we become first time home buyers. Until recently, health insurance was a part of our employment package. However, that too is changing. Life insurance purchases usually follow the same path. The problem with this buying pattern is that we may be doing ourselves a disservice and paying for more than we need to.
When purchasing insurance, it's wise to bundle all types of insurance and utilize the same agent. Why? Insurance companies offer the best rates when you buy all your insurance together. They offer what's refer to in the industry as multiline discounts, providing a cheaper rate to insure your car and home. Adding multiple cars or a life insurance policy provides even greater discounts. By combining your policies the insurance carrier benefits from economies in scale and can justify more discounts by obtaining premiums from more policies. Moreover, they know that people that buy life insurance are much less likely to switch due to medical issues, age, and additional medical exams. They also offer discounts to retain customers since it's expensive to process or underwrite new policies. By bringing all the policies under one roof it diversifies the insurance carrier's risk.
Working with one insurance company such as B&J can save you time, headaches and money. Unlike separate insurance companies, B&J works on your behalf to find the best plan for your money. Since they represent a multitude of insurance carriers, they can determine which company will work the best for your particular needs and budget. It's their job to find discounts and apply whenever and wherever possible. They also act as an advisor, explaining the ins and outs of each policy so you understand what you're buying and how the policy protects you and your family.
Another advantage B&J offers customers is the time it saves to work with one company. There's less mail, less sorting and paperwork and less accounting since only one check needs to be written to one company. And, we all know time saves money!