More and more people are part of a household that owns more than one car. Many of these know that they can save by having all of the family cars on the same policy, but you may be surprised at how many still hold a separate policy on each vehicle. A multi-car insurance policy can save you quite a bit of money annually.
How Multi-Car Insurance Works
Insurance policies for multiple vehicles cover all of your cars on the same policy, so that you can pay a single premium instead of paying one for each car. Some insurance companies will provide coverage for up to five cars on the same policy, as long as all of them are registered to one address. This means that, as long as everyone lives at the same address, everyone in your immediate family could have their vehicles covered on one policy. This is a bit like acquiring insurance in bulk. Since multiple cars are covered by the same insurance policy, your insurance provider can provide you with lower premiums. They can do this because you are not only making their jobs easier by giving them a single policy to handle, you are also providing them with a lot of business. Depending on the models of the cars that will go on the policy, it might not work out to be less expensive. For this reason, it is important to always do a bit of research on the policy and the cars that will go on it.
What to Look for in a Multi-Car Policy
There are some things to keep in mind when you are searching for multi-car insurance quotes. Be sure to get information on which car owners will be covered for what under the policy. While the policy will cover many cars, it will not cover every owner to drive every car on the policy. When you set your insurance policy up, be sure that all drivers are named to be covered to drive all of the vehicles that they need to have access to. Changing this later can affect your premiums. Also talk to your agent about no claims discounts. If one of the drivers who is named on the policy has had to make a claim in the past, make sure that it will affect only that person and not everyone on the policy. Ask about changing cars, as well. Ensure that, should you change cars while you are on the multi-car insurance policy, you will have the opportunity to change it with the insurance company. You might also want to ask your agent to link the renewal dates for each car together so that they all come at the same time – if you are on a tight budget, you may want to pay your premiums monthly, though. Just be aware that you pay more this way in the long run.
Security Discounts on Multiple Vehicles
A good way to save on your insurance is by making sure that every car has some manner of security feature. If the cars listed on the policy are less likely to be stolen, then your premiums will go down quite a bit. A car alarm is an excellent idea, as are devices such as GPS locators, immobilisers, and lockdown mechanisms.
Comparing Insurance for Multiple Cars
While you could go around to each insurance office that is geographically close to you, it is far more convenient to compare quotes online. A great UK insurance comparison site can help you to save money by gathering cheap car insurance quotes all in one place for you. This not only makes it hundreds of pounds per year more affordable to have multi-car insurance, it can also save you a great deal of time looking for the right policy.