Evaluating the Long-Term Value of Bundled Home and Auto Insurance Policies

Thomas J. Simeone, managing partner at Simeone & Miller, LLP, highlights the importance of evaluating the quality and long-term value of bundled home and auto insurance policies rather than focusing solely on initial discounts. While bundling can provide immediate savings typically ranging from 10% to 25%, Simeone advises consumers to ensure comprehensiveness and adequacy of coverage and assess the reliability and customer service of insurance providers.

He notes that bundling may not always be cost-effective in the long run, as rate increases on both policies could offset initial savings, and customers might want the flexibility to switch providers for individual policies if rates diverge. The article underscores the need for regular policy reviews and market comparisons to maintain optimal value from insurance coverage. Drawing on over two decades of legal expertise in personal injury and related fields, Simeone’s perspective reflects a balanced view on financial prudence and service considerations within the insurance market.

The insights provided are relevant for insurance professionals advising clients on coverage strategies and for consumers seeking informed decision-making frameworks in a competitive insurance landscape.