At the stage of life where have multiple insurances: cars, house, life etc.
At the moment these are all individual policies with various companies.
Is there a benefit of getting them all under 1 company for cost efficiencies? Or just treat them all separately?
Yes and No…..
OP should do the maths themselves.
Without getting quotes nobody can provide any useful advice
Its easy to do dear OP.
No point in asking us
If you are including life insurance (it's not wrapped in your super) an insurance broker may be an option to get better coverage and cost across all those categories.
Probably worth a call anyway.
Before you switch your Life Insurance, look carefully at what the alternate covers are and be certain you don't have to re-present for Medicals or Financials that supported your existing cover.
Don't cancel assuming you will just get cover with someone else, even on Annual Renewable Term.
Check whether you have Disability Lump Sum and/or Disability Income cover and on what terms you would be paid and for how long.
Stay safe (and healthy). :+)
Is there a benefit of getting them all under 1 company for cost efficiencies? Or just treat them all separately?
Depends if you are saving money or not.
Agree. This is the real question.
If 1 provider comes out within 5% on all policies of another but then offers a 10% bundle or membership discount 🤔
I have quite a steep loyalty + multiply policy discount with NRMA, I regularly get quotes from other providers but they don't come close to the discounts I receive from having them all with NRMA.
I also use NRMA for many policies, but find there is a sweet spot. They have been good for home and contents, and as that is costly where we are it is worth adding a couple of green slips and membership to get a good combined discount. But they have been bad for comprehensive vehicle for the last few times, so I went elsewhere for those.
Because of that I always compare.
Nothing matters we are all just space dust
Things matter while this space dust still has to work and pay bills though.
I'm in the middle of evaluating my insurance. Things are tight so I'm having to cancel or lower my policies these days.
If you want to bundle your insurance needs than the best appoach is to go through an insurance broker and let them do the leg work.
I would never trust an insurance company or a broker to get me the best deal. Even if a bundle is cheaper this year, I'd be checking my options again next year.
This isn't a loyalty thing - insurance companies consider loyalty as a weakness and will add a surcharge. (Hence the comment above that a new policy can be cheaper than a renewal.)
Convenience doesn't save you money. Separate is better, sometimes making a new policy instead of renewing it as well.