Bundling
The practice of purchasing multiple insurance policies from the same company, often resulting in premium discounts.
Detailed Explanation
Bundling home and auto insurance is particularly common and can lead to significant savings on both policies. Insurance companies offer these discounts to reward customer loyalty and to gain more of your insurance business.
Practical Example
By bundling her homeowners insurance with her auto policy from the same company, Melissa saved 15% on her home insurance premium and 10% on her auto insurance costs.
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