UPDATED: Mar 13, 2020
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By insuring many cars under the same insurance policy, you may stand to save a lot of money on your insurance rates. The reason for this is simple – insurance companies want more of your business. By buying more insurance from them, you are able to take advantage of “bulk discounts.” Continue reading below to learn more about how insuring more than one car with the same company can help you save on your premiums.
Multi-Car Discount Requirements
To take advantage of these discounts, the first thing to do is to get all your cars insured by the same insurance provider. This means that you need to say goodbye to other insurance companies that you insure with and choose one to work with. Remember, these are “multi-vehicle” discounts and not “mutli-insurance-company” discounts. When you cancel your coverage with the other companies, make sure, however, that all your cars remain insured at all times. Not having insurance is against the law and dangerous.
Advantages To Insuring All Cars Under The Same Provider
By listing multiple vehicles on the same insurance policy, you will immediately notice the extra convenience and simplicity. If you have multiple vehicles with multiple providers, the bills will come at all different times. Insurance companies may also have different policy term lengths and coverage types. By insuring under one provider, you will be billed at the same date and have the same exact coverage for all vehicles listed. Confusion regarding your insurance will be minimized.
Not only will it be more convenient, it will also be cheaper! Apart from the discounts made available to you by combining policies and insuring multiple cars, you will also pay less fees. Many insurance companies carry fees with their policies. These fees include renewal fees, billing fees, and other fees. When you combine everything together, these fees are often paid on a single policy (rather than being multiplied).
If you have young, student, or teenage drivers, combining policies may be especially beneficial to you. When you insure many cars on a single policy, your child may be able to get insurance coverage without having to pay the usual high rates for inexperienced, high-risk drivers.
How To Insure Multiple Vehicles
To get more than one car insured by the same company, call up your insurance agent or company to see if you qualify. If you are trying to insure multiple drivers and vehicles, be aware of the stipulation that all drivers usually must live at the same place of residence and/or be related by blood or marriage.
If you are unsure whether or not you qualify for multiple vehicle discounts, the fastest way to check is to contact your insurance provider.
(Also be aware that you can get discounts by maintaining multiple policies with the same insurance company, i.e. home, medical, life, etc. To read more about this, click to go to our article on combining insurance policies.)
Getting Insurance For All Your Vehicles
If you currently do not have an insurance policy anywhere, or would like to switch companies, feel free to let 4AutoInsuranceQuote.com point you in the right direction. We provide an auto insurance quote comparison tool on all pages of our website. To get car insurance rates for all your vehicles, fill out our quote from at the top of our site and let us know about your specific situation.
After filling out our brief form, we will connect you to the top insurance providers in the country who will all be fighting for your insurance business. By giving you rates from multiple providers, you will be able to compare policies and find the right one for you and all of your vehicles.