What is a multi car insurance discount?

Many car insurance companies provide an incentive to customers to insure more than one automobile with them.  Insuring more than one car with your insurance company is referred to as a multi car insurance scenario, and you should enjoy a significant discount on both policy premiums by insuring both cars with the same provider.

How do I shop for a multi car insurance provider?

This is not as straightforward as it many sound.  Many car insurance providers have a robust online presence in which you can submit anonymous information on their web-based car insurance quote calculators.  Unfortunately, the vast majority of these quote engines do not allow you to enter more than one vehicle into the quote, so you won’t get a sense for how deep the multi car insurance discount will be.  That means that you’ll actually have to speak with the multi car insurance agent on the phone, and answer lengthy questions about the specific year, make, model, and options unique to both (or all) of the cars you’re hoping to have insured.

The best way to shorten this process is to begin by getting an online, anonymous quote for a car insurance policy on the most expensive car you’ll insure with them.  The most expensive policies are on newer cars with higher purchase prices, or on cars with greater accident and theft rates.  If you know this information, you can shorten your list of multi car insurance providers, and reduce the amount of time you spend on the phone with various insurance agency representatives.

How big is the multi car insurance discount?

This varies with each insurance provider, but multi car insurance discounts ranging from as low as 5% to as high as 25% (in some rare cases) can be found throughout the car insurance industry.  If the provider you’re researching is advertising a multi car discount promotion, you’ll know in advance how much you can save by insuring more than one car with them.  If not, you’ll have to provide all of your particular details.  Your discount will be based on the type and condition of your vehicles as well as your driving record and recent claim record.

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15 Responses to “Multi Car Insurance Tips”

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