{"id":61107,"date":"2023-01-27T13:02:00","date_gmt":"2023-01-27T13:02:00","guid":{"rendered":"https:\/\/businessyield.com\/?p=61107"},"modified":"2023-02-08T14:13:21","modified_gmt":"2023-02-08T14:13:21","slug":"multi-car-insurance","status":"publish","type":"post","link":"https:\/\/businessyield.com\/insurance\/multi-car-insurance\/","title":{"rendered":"MULTI CAR INSURANCE: How To Get The Cheapest Quotes","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"\n

If you own more than one vehicle, you should look into purchasing a multi-car insurance policy. A multi-car policy allows you to purchase car insurance for two or more vehicles on a single policy, usually at a significant discount ranging from 10% to 25%.
Everything you need to know about multi-car insurance and how to get the cheapest quotes is right here.<\/p>\n\n\n\n

What is a Multi-Car Insurance Policy?<\/h2>\n\n\n\n

The term “multi-car” refers to having more than one car insured on a single auto insurance policy. In some areas, you can insure up to six vehicles on the same policy, although the maximum number of vehicles is normally around four. Remember, this only applies to automobiles, vans, and trucks. Additional motorcycles, trailers, and so on do not qualify for “multi-car” status. (You’ll need motorbike insurance or travel trailer insurance for these, not car insurance.)<\/p>\n\n\n\n

What is the Purpose of a Multi-Car Insurance Policy?<\/h2>\n\n\n\n

A multi-car insurance policy functions similarly to a single-car policy in most ways. When you fill out the quote form, you’ll tell us about the automobiles you own and who drives them. Some car insurance companies inquire who the principal driver is for each car, which vehicle is the primary vehicle for each driver, or both. When you apply for car insurance, the company will automatically incorporate any multi-vehicle discounts into your quote.<\/p>\n\n\n\n

Some coverages apply to all drivers on a policy, while others only apply to one car. Liability coverage, for example, is shared by every car (and every driver) on your policy. Meanwhile, each vehicle’s comprehensive collision coverage can be customized. This way, you can have full coverage on your new Acura without having to pay extra for coverage on your young driver’s 15-year-old Toyota Camry.<\/p>\n\n\n\n

Coverages shared among cars<\/strong><\/td>Coverages set for each car<\/strong><\/td><\/tr>
Liability (bodily injury and property damage)<\/td>Comprehensive<\/td><\/tr>
PIP\/Medpay<\/td>Collision<\/td><\/tr>
Uninsured\/underinsured motorist<\/td>Emergency road service<\/td><\/tr>
<\/td>Rental reimbursement<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

Which Car Insurance Providers offer the Best Multi-Car Discounts?<\/h2>\n\n\n\n

We checked nine top insurance firms and discovered that they all provided a discount for insuring multiple vehicles. Some providers provided a particular percentage discount for insuring more than one car, while others merely said that a discount is available.<\/p>\n\n\n\n

Geico had the best savings of the firms that offered a specified percentage discount: customers can save up to 25% by insuring their automobiles through the company. State Farm also offered a substantial multi-car discount of 20% off.<\/p>\n\n\n\n

 Insurer<\/strong><\/td>Discount<\/strong><\/td><\/tr>
Geico<\/strong><\/td>Up to 25%<\/strong><\/td><\/tr>
State Farm<\/strong><\/td>Up to 20%<\/strong><\/td><\/tr>
Progressive<\/strong><\/td>10%<\/strong><\/td><\/tr>
Travelers<\/strong><\/td>Up to 8%<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

We also discovered that Allstate, Farmers, Liberty Mutual, Nationwide, and USAA offered multi-car discounts; however, the insurers did not specify the amount.<\/p>\n\n\n\n

Furthermore, you should take these percentage savings with a grain of salt because the offered discounts may not always begin with the same base price.<\/p>\n\n\n\n

Imagine Company A offers you a 30% reduction off the base price of $400 per month for two car insurance. Meanwhile, Company B only gives you a 10% discount, but its monthly basic price is $300. Company B will have lower effective pricing in this situation.<\/p>\n\n\n\n

 <\/td>Base price (2 cars)<\/strong><\/td>Percent discount<\/strong><\/td>Net price<\/strong><\/td><\/tr>
Company A<\/strong><\/td>$400\/month<\/strong><\/td>30%<\/strong><\/td>$280<\/strong><\/td><\/tr>
Company B<\/strong><\/td>$300\/month<\/strong><\/td>10%<\/strong><\/td>$270<\/strong><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

A multi-car discount is not the only option to acquire a lower car insurance policy. Other incentives, such as those for safe driving or customer loyalty, may make one insurer a better offer than another. The best method to ensure you’re getting the cheapest multi-car insurance deal is to seek quotes from various insurance providers and then choose the one with the lowest pricing.<\/p>\n\n\n\n

Other Benefits of a Multi-Car Insurance Policy<\/h2>\n\n\n\n

Another advantage of a multi-car insurance policy is the opportunity to stack insurance coverages. Stacking coverage allows you to take benefit from the complete amount of your coverage at any moment in places where it is available.<\/p>\n\n\n\n

If you have two cars and stack your $50,000 uninsured motorist (UIM) coverage, you effectively have a $100,000 UIM policy insuring you at all times \u2013 usually at a lower cost than a non-stacked policy with the same total amount.<\/p>\n\n\n\n

Stacking certain coverages varies by state, but the most frequent possibilities are UIM and personal injury protection (PIP).<\/p>\n\n\n\n

A multi-car insurance policy also simplifies the payment process for your insurance. There is simply one regular payment to make and one policy renewal date to remember. This advantage does not immediately save you money, but it can save you time and effort.<\/p>\n\n\n\n

How to Get the Cheapest Multi-Car Insurance Quotes<\/h2>\n\n\n\n

If you just want to acquire multi-car insurance as soon as possible, call your insurance agent or go online and add your new vehicle to your policy \u2014 it will only take a few minutes. However, purchasing a new car is a good opportunity to search around for numerous quotes from car insurance companies because rates are continuously changing, and your existing carrier may not offer the lowest price now that you have multiple cars.<\/p>\n\n\n\n

Car insurance providers have sought to simplify the process of obtaining quotes online, particularly for numerous automobiles. However, the procedure still requires a significant amount of repetitive data entering. You can expedite the procedure by gathering the necessary data ahead of time:<\/p>\n\n\n\n

Preparedness information for purchasing a multi-car insurance policy:<\/p>\n\n\n\n