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.