Many people have more than one car and want to have all of their cars insured by the same auto insurance company. Therefore, instead of getting a quote for only one vehicle, you can get a multi-car insurance quote for all of your vehicles at the same time and that can help you save more. Different companies offer different savings. Getting multi-car insurance quotes can offer other benefits too. Keep reading to find out more about multi car insurance quotes.
- The Benefits of Multi Car Insurance Policies
- How To Get A Multi Car Insurance Quote
- Multi-Car Insurance Quotes: Compare the 10 Largest Providers
The Benefits of Multi Car Insurance Policies
Discount: Car insurance companies often offer discounts for insuring more than one vehicle with the auto insurance company. In fact, this discount is generally one of the larger discounts that they offer. The average multi car discount that auto insurance companies offer tends to be around 25%.
>>MORE: Popular Car Insurance Discounts
One deductible amount for both cars: Insuring multiple cars on the same policy can also allow you to have only one deductible for all of your vehicles. This means that if more than one of your vehicles gets damaged at the same time, for example, in a flood or due to vandalism, you would only have to pay the deductible amount once before your auto insurance kicks in to cover the rest of the repair cost for both vehicles.
Insurance stacking: In states that require uninsured motorist coverage, having more than one vehicle on your policy can allow you to combine insurance benefits to use all in one claim. This is a practice called insurance stacking. Although you are not allowed to do this in all states, in states where it is allowed, it is a great benefit which may save you from having to pay an out of pocket expense.
How To Get A Multi Car Insurance Quote
You can get a multi car insurance quote in the same way as a traditional insurance quote. Simply have all of the information that you need about all of the vehicle such as the year, make, model, and VIN number. You also need information on all of the drivers to be listed on the policy. It is important to note that for vehicles to be listed on the same policy, they must be garaged at the same address, with the exception of college students who are away at school.
Multi-Car Insurance Quotes: Compare the 10 Largest Providers
We obtained car insurance quotes for 2 cars from the 10 biggest insurance companies (actually 9 companies only since USAA is only available to veterans, active military personnels, and their families)
The rate for one car is for a thirty-year-old male with a clean driving record and a 2018 Honda Civic with 50k/100k/50k liability coverage and $500 collision and comprehensive deductibles. The rate for two cars includes a second 2018 Honda Civic.
|Car Insurance Company||Monthly Rate For One Car||Monthly Rate For Two Cars||% Discount|
While American Family and Liberty Mutual offer the biggest discount (29%) for a multi car insurance quote, Geico offers the cheapest quote, $269.41 a month for 2 cars, 40% cheaper than Liberty Mutual and 17% cheaper than Travelers who offers the second cheapest quote for 2 cars.
A multi car discount can lead to significant savings so if you have more than one car in your household, you may want to get multi car insurance quotes to see how much you can save. And remember, additional benefits include a single deductible and stacking.