How Multi-Car Insurance Works For Families

Sep 07, 2022

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How Multi-Car Insurance Works For Families

You might want to look into purchasing multi-car insurance coverage if you own more than one vehicle. Multi-car insurance policy enables you to combine all of your vehicles into a single package and normally includes sizable savings, ranging from 10% to 25%. You can receive better rates while paying less for coverage. Here is all the information you may need before considering a multi-car policy.

Benefits Of Multi-Car Insurance

  1. Economical:

    Most insurers provide a sizable multi-car discount. Depending on the insurer, you can save anywhere from 10% to 25% on your multi-car coverage. This discount is applied to each vehicle but does not grow larger as more vehicles are added. For instance, whether you add two or four additional automobiles to the insurance, your first car will receive a 12% discount even when the total discount is set at 12%.
  2. Single Deductible: You will only have to pay one deductible even if more than one of your vehicles is involved in an accident. For instance, if more than one of your vehicles is damaged in a severe storm, and you’re carrying a deductible of 700$ on your policy, you will have to only pay 700$ for both cars that are damaged in the same incident.
  3. 1 Renewal Date:

    With multi-car insurance, you may cover all your vehicles on a single schedule, renewal, and payment date. Unlike separate policies, you do not have to keep track of additional payments and due dates each month.
  4. Insurance Stacking:

    When you have numerous vehicles on the same policy, you can stack your uninsured or underinsured bodily injury coverage in states that permit it.

Multi-Car Coverage: How to Make It Work for You

A multi-car insurance policy works much the same way as any other one. For instance, when filling out the quote form, you'll provide information about the cars you own and who drives them. Some car insurance companies ask who the primary driver is for each car, which is the primary vehicle for each driver, or both. Car insurance companies will automatically apply any multi-vehicle discount to your quote as you apply for it. Some coverages are shared by every driver on a policy, while others apply only to one vehicle. For example, liability coverage is shared by every vehicle (and every driver) on your policy. Meanwhile, comprehensive and collision coverage can be set differently for every vehicle.

Are Customizations on Coverage for Each Car Allowed?

It is typical for car insurance companies and state laws to require that your liability limits on all vehicles in your policy are the same. This helps prevent confusion should you be involved in a car accident. The majority of insurance providers demand that you carry the same level of liability insurance on each vehicle, but you have options when it comes to collision and comprehensive coverage. For instance, you can typically carry comprehensive and collision insurance on one car but not another. The same is true for add-on coverages like rental reimbursement or coverage for customized vehicles and equipment.

Does Progressive's Multi-Car Discount Apply to Multiple-Car Policies?

Although it varies per insurer, a multi-vehicle discount should typically result in premium savings of 10% to 25%. Make sure to speak with at least three different insurance providers while looking for coverage to see which one has the most affordable second-car insurance rates.

How Many Drivers Can Be Added to A Multi-Car Policy?

You can insure up to four vehicles and four drivers on an auto insurance policy, though the exact quantity varies by insurer. Some insurance providers will develop a second policy that is connected to the first if there are more than four automobiles to be insured. To reduce the added expense of having a different coverage, this supplementary policy would be significantly reduced.

Consult with Udell Family Insurance

When you reach big life milestones, you should re-evaluate your car insurance coverage to ensure that the company you're with still fits your needs and that you have enough coverage.

Ready to see how much you could save on a multi-car insurance policy for your family? Contact us at Udell Family Insurance to get the best quotes and maximum protection for your insurance requirements.

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