(BPT) - Bundling insurance products with one company – and scoring cheaper premiums as a reward – isn’t a new concept. But, according to a recent study by J.D. Power and Associates, not only is bundling still popular among consumers, it also results in higher customer satisfaction.

The study found that nearly 60 percent of customers bundle auto and homeowners policies with the same insurer. When customers need additional products – such as motorcycle, boat and life insurance – 77 percent of them choose to bundle. The study notes that insurance bundlers also tend to be more satisfied with their insurers overall, not just with the premium discounts they’re getting.

Charles Valinotti, Head of Underwriting & Product with insurer QBE, says bundling insurance policies offers other benefits besides lower premiums.