What the Super Bowl can teach us about insurance

The big game is upon us: Super Bowl LVI is finally here. 

This year’s matchup between the Los Angeles Rams and Cincinnati Bengals features plenty of interesting storylines. The Rams have several new faces and are playing at their home stadium. The Bengals have never won a championship and, before this season, hadn’t won a playoff game since George Bush Sr. was president.

While there will be plenty of intrigue on the field, the Super Bowl offers plenty of practical advice around insurance, too. Here are five tips you can apply long after the final whistle blows. 

1. It pays to bundle

The Super Bowl halftime show often has multiple guest performers. Last year, we only saw The Weeknd, who said a guest wouldn’t fit the narrative of the story he was trying to tell. Instead, he gave us perhaps one of the best memes in Super Bowl History.

However, in years past we’ve seen a variety of acts combine into one glorious show. Sometimes the pairings make sense — think Jennifer Lopez and Shakira in 2020. Sometimes they’re a bit more confusing — we’re looking at you Bruno Mars and the Red Hot Chili Peppers. And speaking of combos that don’t seem to jive musically, 2011brought us The Black Eyed Peas and Slash. 

This year probably doesn’t need a surprise guest — the lineup of Dr. Dre, Snoop Dogg, Mary J. Blige, Eminem and Kendrick Lamar is already packed with plenty of talent. But the point remains: the Super Bowl is all about packing as much value into the show as it can muster.

Your insurance works the same way. Almost every company that offers both home and auto insurance also offers a discount for bundling the two. That discount applies whether you own or rent your home. In some cases, you can save up to 10% on your premiums by combining your auto insurance with home, condo or renters insurance.

There’s also a convenience factor. Rather than needing to make two separate payments each month, which requires two accounts, two logins and possibly downloading two apps, you can handle all your insurance business in one place.

Bundling isn’t always the right move, though. Check to see you’re not limiting or removing any coverage or liability, and be sure the discount is actually worthwhile. If it’s not, you may want to hold off.

Curious which company offers the best savings for you? Compare auto and home bundles here.

2. You can win (or save) money in many different ways

For people that enjoy betting, one of the most exciting parts of the Super Bowl is all the different prop bets you can make. 

Of course, there are football-related props, like how many yards a quarterback will throw for, or how many catches a receiver will have. But there are plenty of things you can take a shot at, even if you have no knowledge of football whatsoever. Take a look at some bets you can make for this year’s game:

• What the coin toss will be
• How long it will take Mickey Guyton to sing the national anthem
• Who will perform first during the halftime show
• How many commercials will feature puppies
• What color Gatorade will be poured on the winning coach (orange tends to be the most popular)

While there’s usually no harm in betting legally and responsibly if you choose to do so, the sheer volume of prop bets means there are ample ways to make (or lose) money — and the same is true of insurance.

Beyond bundling, many insurance companies offer discounts for a variety of reasons. You can potentially save by being a good driver or good student, driving a green vehicle, working in a certain profession, paying your premium in full, and more.

While there’s often a limit to how much you can save, there typically aren’t restrictions on combining multiple discounts. Ask your insurance agent about potential discounts and see if you fall into certain categories — or are close to qualifying for a discount. Saving money is always a safe bet.

3. Feel free to get creative

On the NFL’s greatest stage, teams aren’t shy to pull out all the stops. We’ve seen a handful of trick plays in Super Bowl history, from big defensive linemen running in touchdowns to receivers throwing passes to quarterbacks.

This trickery makes sense. The Super Bowl is your last game of the year — why wouldn’t you show a little creativity in the name of success?

You can adopt a creative mindset with your insurance, too. Have you been working remotely and barely driven your car? It may be wise to swap your traditional insurance coverage for something like telematics, which rewards good driving and charges monthly premiums based around how frequently and where you drive in a given day. It could ultimately end up saving you hundreds of dollars per year.

There may also be unique discounts or coverage options available. You’ll never know unless you try — ask your insurance agent about those possible savings.

4. Don't make snap decisions

Prior to this year’s run, the Bengals hadn’t won a playoff game in 31 years — and had never won a playoff game on the road, period. The team hired a new coach, Zac Taylor, in 2019, with hopes he could turn around the franchise’s long spell of mediocrity. 

Taylor came in and…promptly lost his first 11 games. The Bengals finished with the worst record in the league at 2-14. The following season wasn’t much better, ending with a 4-11-1 record.

A lot of owners might have seen these struggles and fired the coach, or made major moves to shake up the roster. The Bengals weren’t ready to give up, though. They had done the scouting and research and had a vision for their team. Led by recent draft picks Joe Burrow and Ja’Marr Chase, plus a stout defensive effort, the Bengals have a chance to win their first-ever Super Bowl.

When you’re getting a new insurance plan, it can be tempting to jump at the first quote you receive. And sure, that quote may end up being the best of the bunch. But without doing your due diligence, you could pay for more than you need.

Understand what is — and what isn’t — covered in each option. If you’re in a specific part of the country, you may be required to have coverage for events like hurricanes or floods. It takes a bit of extra research, but the peace of mind and potential extra savings are a fine trade-off.

5. Don’t be afraid to rebuild

Of course, not every team can sustain greatness forever. Even Tom Brady — who many of us thought might never retire — finally hung up his cleats this year. And sometimes, you need to know when to hit the reset button.

The Rams made the Super Bowl during the 2018 season. It seemed like they were set up for success for a long time, but after a couple of disappointing seasons, they decided it was time to start fresh.

Before this season started, they traded their quarterback Jared Goff and multiple draft picks to the Detroit Lions for Matthew Stafford. Stafford was a former number one draft selection and 12-year veteran who had never won a playoff game, but he has a big arm and the Rams thought he would fit well within their system.

During the season, they added linebacker Von Miller via trade and signed wide receiver Odell Beckham, Jr. as a free agent. Both stars had been inconsistent in their previous roles, but the Rams believed they could get back to their elite form in Los Angeles. 

As it turns out, they were right. All those players have contributed to a successful season, and the Rams are one win away from a Super Bowl championship.

Let the team offer a lesson: it’s a good idea to regularly assess your situation. While most insurance companies will offer loyalty discounts if you stick with them for a while, you still may be able to find a better deal elsewhere.

We recommend comparing prices every six months. If you’ve paid for a year of insurance in full, start shopping around a couple of months before that term expires. The worst case scenario is that you’ll have your payments overlap for a few days. That additional extra cost in exchange for long-term savings can be worthwhile.

Ready to see if you can save more on your insurance? Enter your zip code below to see what companies in your area offer.