Does Multicar Insurance Lower My Insurance?

By Mike Anderson Posted in Car Insurance News

Multi car insurance is a useful product that is available through almost all insurance companies. This type of insurance covers more than one vehicle, although it is technically a single car insurance policy. This is great to use because it allows people to save money and to do so without lowering the level of insurance provided. When purchasing a multi car insurance policy, the consumer is basically buying in bulk, therefore it is less expensive than purchasing two separate policies.

Do I Need To Wait Until Both Cars Are Up For Renewal?

A lot of people believe that they can only insure vehicles as long as they are not under a pre-existing policy. This is not always true. Many companies would be glad to transfer your second car over to the new multi car insurance policy. This is a way that the insurance companies keep their customers happy and ensure quality service. Some companies will even allow you to transfer your policy to their company mid-policy without any penalties.

Some insurance companies allow their customers to have up to five vehicles under one policy. One requirement to this would be that all vehicles would need to be registered to the same address.

What To Look For In Your Policy

Some policies will only cover certain drivers in specific vehicles. If this is the case, investigate uninsured drivers insurance with your company. Another detail to look at would be no-claims bonuses. Before purchasing, it should be understood if the bonus points are shared between drivers or distributed individually. If they are shared you might end up paying for an accident that you weren’t even involved in.

Multi car insurance is definitely worth investigating and comparing quotes. The consumer may end up saving money with less hassle.

Related posts:

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  2. How Do I Select Cheap No Fault Insurance For Myself?
  3. What Is Commercial Auto Assigned Risk?
  4. What Can I Do To Lower My Car Insurance Premium?
  5. How Much Is A Multicar Discount Auto Insurance Policy?

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