Multi-Car Policies and Cheap Auto Insurance
Many families have more than one vehicle in their household. This
could be due to multiple adults having cars, teenagers that drive, or
work vs. recreational vehicles. Typically, having a multi-car policy
through your cheap auto insurance company can save you money.
Many big name cheap auto insurance companies offer multi-car discount
policies. Some insurance companies will allow you to have up to five
cars on one policy, assuming they reside at the same address. This is
convenient not only for savings, but it also keeps all of your insurance
in one spot, gives you one number to call for claims, and provides you
with one monthly bill.
Cheap auto insurance
companies are constantly competing with other companies. Therefore,
your loyalty is important to them. By purchasing all of your insurance
through one company, they reward you with discounts for being loyal.
Typically, you can also purchase home or renters insurance, boat or
motorcycle insurance, life, and sometimes medical insurance through the
same company. Buying these policies together provides the same benefits
of multi-car insurance policies.
Here are a few tips to consider when purchasing multi-policy insurance:
Monthly payments - Having multiple insurance policies could get
expensive if you are paying annually. To reduce this cost, switch over
to monthly or bi-monthly payment plan. If possible, however, consider
keeping your annual payment plan, as some companies provide discounts
for this type of payment.
Household drivers - Some policies allow household drivers to drive
any car covered under the insurance policy. Other policies only allow
people registered to drive a specific car to drive it. This is
important to know so that you do not end up without coverage in an
accident.
No-claims discount - Many policies offer discounts to drivers who
have not made any claims. In a multi-driver household, it is important
to know whether or not a claim made by a person affects the premium of
the entire family, or just that individual.
Policy options - the coverage you get should meet the needs of each
driver. Cutting one driver short on needed coverage might reduce your
premium overall, but if that driver is likely to need a certain type of
coverage and you do without, it could end up being very expensive.
Always comparison shop - although multi-car policies typically
provide great discounts, you should still shop around for individual
quotes to make sure you are in fact getting the best price.
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