Save Money by Putting Multiple Cars on one Insurance Policy

Saving money on automobile insurance is easy when you put multiple vehicles on one auto insurance policy.   Not all insurance companies offer this type of “bundling,” but if the insurance company provides a multi car discount, the savings can be significant.  Occasionally it will even cost less to insure two cars than it would cost to insure one.   However, more frequently the savings are between 15 and 25 percent.

Multiple Car Discount Benefits

There are several benefits to having a multiple car insurance policy discount.  The main reason to take advantage of this type of discount is the premium savings.  This bulk insurance means that the more cars that are insured the more cost savings the policy holder will receive.  Another reason to take advantage of this is that all cars will be on a policy that renews at the same time.  This makes the renewal process easier and consumers do not need to wait until a vehicle is due for renewal to add it.  It also is more convenient when there are multiple drivers in the household. Carry out Car Insurance Quotes Cover Many Clauses

Adding and Removing Cars

When there is a multiple car insurance policy adding and removing vehicles is easy.  In the case of divorce, trade or purchasing a new vehicle, all the policy holder needs to do is contact the company and change the insurance coverage to reflect the new situation.  If there are already multiple policies in place, combining policies requires you to mail or fax the policy declaration sheet to the new insurance company that is offering the multiple car discount.  snjauto blog

Requirements for a Multiple Car Discount

Most insurance companies have a few requirements for getting a multiple car discount.  They may require that the people who are requesting the discount be married or in a state recognized civil union or the dependents of one of those unions.  Domestic partnerships often do not receive a multi car discount, although some companies do allow this.   Some policies also only cover certain drivers on specific vehicles.  Policy holders can generally insure only up to a specified number of vehicles and they must be located at the same address.  This prevents insurance fraud.

The Downside of a Multiple Car Discount
Unfortunately if one of the people insured on a multiple car insurance policy discount has a bad driving record, gets a speeding ticket or is in an accident, the overall premium will be increased.  However, the rates will probably still be less than an individual policy.  If there are any bonus points, these should also be distributed evenly to prevent a good driver from being penalized by another driver’s accident.  The positive is any additional good driver discounts will also serve to lower the entire overall premium rates. Save Money On Car insurance Tips

Saving money is always in style especially in a poor economy.  By putting vehicles together on a multiple car insurance policy discount, you get a group rate and a bigger discount.  Multiple car discounts can also apply to single drivers who have more than one vehicle.  Insurance companies will also frequently provide additional discounts when insuring other types of vehicles including recreational vehicles, ATVs, motorcycles and boats.