Multi Car Insurance

Multi car insurancePeople today are conditioned into believing the more of a product they buy, the lower the price will be. Every store seems to have a special of buy 2 and get one free or buy 1 and get the same item at a 50% discount. If you have more than one automobile and are looking for additional discounts to lower your rates, you might want to consider getting a multi-car insurance discount.

Recent studies conducted by the Insurance Institute for Highway Safety show that nearly 35% of homes have two or more vehicles. For those large families with several kids in college, there are often 3 or more cars that need to be insured. The good news is it’s possible to save 15% or more by combining all your vehicles together under one policy. The discounts for multiple car insurances are not added for each additional car you add on, however. For example, let’s say you are given a 10% discounted rate by combining two automobiles onto your policy. If you add 1 or even two more vehicles, you should get a small discount, but it will not be an additional 10% to 20% off the entire policy for each added vehicle.

With car insurance costs rising over the past few years, this is a discount that families and individuals should take advantage of to save hundreds annually.

The key benefits of multi-auto insurance are:

1. Discounts of 10% or more
2. More convenient having just one bill from one insurer
3. Makes changing insurers in the future a little easier

Most multi auto policies will cover between two and five automobiles. The benefit to the insurer is they get more business and hopefully more profit from the policy. This is why they offer the incentives, to bring in more revenue. There is also the hope from the insurers perspective that the discounted rate will keep the customers with them for an extended period of time.

While most large auto insurance companies offer multi-vehicle insurance discounts, you should always compare bundled rates with
several insurers to see who has the best rates. Not all insurers offer the same discounts and some companies aggressively target this market segment. Get a free bundled auto quote for all of your vehicles in just five minutes of less. Take advantage of online specials that could save you hundreds per year on coverage.

Should you get Multi Car Insurance?

Multi automobile insurance applies to a group of persons who reside at the same physical address, this could mean family members, friends, roommates or a combination of family and friends. The goal is the same, to get a good discount for insuring all the vehicles together, under what is termed an umbrella policy. With just one policy, there is significantly reduced paperwork, and the policy can be paid in full for an annual run. Everyone needs to be fully aware of his or her payment amount and responsibly pay on time if there is going to be more than one policy payer. If you shop for multi-car insurance rates, you can often get savings of 20% or more, which makes it totally worth it. If you can trust your friends or family members to pay on time and all agree on switching carriers, bundled car insurance just might be a right choice for you.

Things you should know

If you currently are looking to switch to a bundled umbrella policy, be aware of a couple of concerns. The cars you will be insuring will more than likely all have different policy renewal times. Most insurers will then add each vehicle onto the policy when the coverage is up, so there is one renewal date for all of the vehicles on the policy. If there is just one policy-payer, such as a father, this can present a financial burden if there are family cash flow issues.

Many reasons
Here you have the main reason for why it is important to save up money each month if you have annual coverage, to ensure that there are funds available when the policy is due for renewal. Also, if a driver that is being added to the policy has had recent reckless driving citations or other serious incidents, there may be no discount at all given, or the policy could even increase. You should realize and wonder why it is smart to get as many quotes as possible before switching over to a multi-vehicle policy, so you can compare rates and see how much you could save.

Shop online now for the cheapest multi-car insurance and save up to 20%. The quote will only take you a few short minutes, and you can easily save hundreds yearly on your premiums. Get started now and see how easy shopping for cheap car insurance really is.