If you have more than one car in your household, then getting a multiple car discount can be the simplest way for you to cut down on your car insurance costs. You can get this discount to save on your premium even if the other cars are in your spouse’s or your adult kid’s name. You really don’t have to own all the cars to obtain this particular discount, as far as all the cars are garaged in the same address.
What is a multi-car discount?
A multi-car discount applies when several vehicles that are garaged or registered at the same address, are usually combined under a single auto insurance policy. A multi-car discount can be taken advantage of on as many as five cars under one policy, so that your entire family can be on road covered by the broad shield of the policy, plus save on the rates too.
How to qualify for the discount
The first thing needed to qualify for this discount is obviously to possess more than one vehicle. If you have more than one car under the same policy, then you are automatically eligible for multi-car discount. If there are others staying in your household, be it immediate family or a relative, you can easily enlist all cars into one policy to enjoy great discounts.
Let’s take a look on the criteria to obtain a multi-car discount:
1. Ensure that, all your or your family’s cars that are under the same address are insured with the same insurer. To get the discount it’s important to ensure that no car goes without insurance or gets insured under a different insurance company.
2. If you have a teenaged driver in the family, you can add him and his car under your existing insurance, and get a discount. The high risk factor of the teen driver would make your insurance rates go up but it’ll save you immense money as compared to taking a separate policy on the teenager’s name. This option can save you from a great dilemma of insuring a teenager, which most parents face.
3. Even if you don’t own more than one car, or have an adult child with a separate car, you might still be eligible for multi-vehicle discount. Insurance companies offer the same sort of discounts if you club your auto insurance with a boat, a motorcycle or any other type of vehicle insurance. This will of course depend on whether or not the provider insures vehicles other than cars and trucks.
Things to follow:
It’s essential that you know how much you can save by getting this discount; also it may differ from case to case. Take a look at the important factors that count:
1. A multi-car discount can range from 10% to a whopping 35%, depending on the provider, and your mode of getting the discount.
2. There are usually no added administration costs to combine different policies into one. However, do read your policy carefully to make sure you get the discounts without spending anymore money, as all insurance companies are different.
3. While including your teenager’s car, you may not realize how much you save until you compare it with an individual policy.
4. While, you can get a multi-car discount even if the different drivers of your family have separate policies under the same provider, it’s better to enlist all the cars and all drivers into a single policy to avoid confusion.
If this mode of getting a discounted price on your auto insurance rates appeals to you, then ask your agent and get all your cars under your favorite insurer to save your hard earned money.Blog Category