How does bundling effect the price of my insurance.

 Progressive Insurance offered a look last fall at whom they are targeting with their advertising dollars. They called them the “Robinsons”. As an independent insurance agency, we keep an eye out for changes in the marketplace to see how we can improve our products in our community. 

The Robinsons are a segment of the marketplace that includes households who own a home and car and place the insurance with the same insurer as a bundle. They represent the ideal customer for the big insurance company. They have the highest retention of 53% and the longest retention with 45% having been with their insurance provider 11 years or more. These are the customers that are highly sought after by big insurance companies and see some (but not all) discounts. 

Robinsons are important to big insurance.

There are a couple of forces that are driving this ideal group to shop:

1. Record high numbers of serious collisions. 

2. Skyrocketing used vehicle valuations with inflated repair costs. 

3. Increased savings using telemetrics.

4. Customer Service Challenges.  

Telemetrics these days is a simple phone app that charts how, where, and when you drive. One of the first things that we did with Wenatchee Insurance was fire up this option and honestly, it is intriguing to see it track things and calculate savings. 

We tackle the Customer Service Challenge by having a local office staffed with licensed agents to answer questions about multiple insurance companies. We assist in shopping so that some of the pitfalls are sidestepped and customer questions are answered quickly. 

It’s clear from the Big Insurance strategy playbook that every savvy multi-line personal insurance carrier would much rather bundle the Robinson family tree than watch them unbundle themselves to take advantage of lower-cost Telemetric programs. But, the current dynamics of the marketplace may have other plans.

There have been times when a bundled policy works best for price and others that have split them apart to lower costs. At Wenatchee Insurance, we think it is best for the customer to make that decision. If you are ready for a better experience than Big Insurance then let us know. 

Topics: Wenatchee Insurance, Independent Insurance Agent, Big Insurance, Telemetrics, Inflation, Bundling Insurance, Customer Service, Chelan County, Douglas County, car insurance, auto insurance