fbpx Skip to content

Keeping It in the Family: Multi-Car Auto Insurance

Car insurance is one of those things that we are often annoyed we have to pay for. We pay monthly premiums and, in exchange, we are compliant with state law and have peace of mind. Still, we don’t really feel the benefits of having car insurance until we need it. When our car is damaged or stolen, we are grateful for our coverage. When we get into an accident, we can rest easy knowing that our insurance company will cover most of the costs.

Unfortunately, every time we have to use our car insurance, there is usually a negative effect on our rates. When insurance companies have to pay, they see the driver as more of a liability and often require them to pay higher premiums. That is why it is important to find discounts wherever you can. One way to do that is by insuring multiple cars with one policy. Read on for details.

Potential Savings

Insurance companies frequently offer incentives to gain more of your business. If you are giving them more vehicles to insure, they will often provide a discount. Multi-car insurance is a great option for families with multiple drivers or couples who have two cars. This can also be a good option for individuals who have more than one car for themselves. With family plans, some insurance companies will allow you to add people who live at a different address. This works well for covering children who may be living at college. Make sure that you ask to see if your insurance company provides this option.

Most multi-car policies will cover up to 5 cars. When you secure the policy, you provide the information for each car and renew all of this together when it is time. It is important to note that drivers on the policy cannot necessarily drive all covered cars. They have to be registered as named drivers for each car they will be potentially driving.

Impact on Drivers

In a multi-car policy, the drivers and the cars matter. Everyone’s rates can be impacted by the rates for one car or driver. For example, the rates for a middle-aged woman will increase if a teenage boy is added to the policy. Another example would be if everyone in the family drives a sedan and then dad wants to add a sports car, which will drag the prices up. You could consider getting a separate policy for this new car and having the remaining family cars on a multi-car policy.

The Takeaway

Make sure that you always compare the rates for a multi-car policy with the cost of insuring each vehicle separately. That ensures that you are getting the best deal. Sometimes, combining cars on one policy can save you a bundle. Other times, it’s not a cost-effective option. Compare quotes from different companies and see what your options are.

Auto Listings
Motorcycle Listings
Life Listings
Health Listings
Home Listings
Small Business Listings

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Save on Car Insurance: Top 5 Ways to Secure a Cost-Effective Auto Policy

October 17, 2019

We are all trying to save more money, but sometimes there don’t seem to be any areas to cut back. One avenue to explore is ways to save on car…

Read More

All Risk Home Insurance Coverage: It’s a Risky Business to Go Without

October 15, 2019

We have all heard the horror stories about people not buying specific insurance coverage and then losing their homes to a tragedy. After an earthquake in California, our neighborhood chat…

Read More

Gap Coverage 101: What You Need to Know About Health Insurance

August 22, 2019

Mind the Gap There are several situations in life that cause people to either change their health insurance, end their health insurance, or have a gap in coverage. I recently…

Read More

Motorcycle Insurance 101: First Time Riders

August 13, 2019

The Cool Commuter When you think of motorcycles, a few things come to mind. Typically, they are thoughts related to the Sons of Anarchy. However, there are actually a lot…

Read More

Could a Hybrid be the Answer to Your Commuter Blues?

August 13, 2019

If you are a commuter that drives into work or school daily, then you may have noticed that there are more cars on the road than ever before. Big cities…

Read More

Small Business Insurance 101: Construction

August 3, 2019

Construction and Insurance Home improvement is a trend that looks like it is here to stay in the US. With shows like Fixer Upper and Love it or List it,…

Read More

Road Trip and Car Insurance: Being Prepared

July 20, 2019

Road Trip Preparation Summer vacation is something that we look forward to all year. Here at Insuravita, we know that nothing ruins vacations like an unexpected insurance mishap. One of…

Read More

Average Costs of Teen Drivers: Teenagers and Auto Insurance

June 5, 2019

It is stressful to be a teenager and stressful to raise a teenager. And everything changes at age sixteen. Suddenly, teenagers are learning to drive and there are so many…

Read More
Scroll To Top
%d bloggers like this: