Insuring More Than One Vehicle At Once

12, Nov 2014 by Janica in Car Insurance       No Comments

Multi-Car Insurance

Do you have more than one vehicle to insure? If you have multiple cars, a boat, motorcycle, etc., then you may be eligible for a discount on your monthly insurance plan. Depending on where you live and what other types of vehicles you own, you could be saving money.

Do You Fit The Standards?

If you’re hoping to receive a discount on insurance for owning more than one car, then there are a couple of procedures that must be followed. First, in order to qualify for this savings, every vehicle you’re hoping to insure must be under your name, and your name only. Also, only members of your family that are currently living in your home are permitted to drive said vehicles.

The Added Bonus and Further Rules

One incentive that is available when insuring more than one vehicle with your insurance company is the lowered rates for teenage drivers. If you have a teenage driver and insure more than one vehicle on the same policy, then your son or daughter will be able to secure coverage without having to pay the usual high rates teenagers or new drivers are subjected to.

Of course, there are a few stipulations as to how you can insure more than one vehicle at once. For starters, all of your cars must be insured with the same car insurance company. If you have more than one car and more than one insurance company servicing you, then you will have to cancel your policies elsewhere. It’s important to remember this: stick with the insurance company that offers the multiple car discount; not all companies will offer this deal.

You might ask yourself this question: If my current insurance company doesn’t offer multiple vehicle discount, then should I consider changing insurance companies? The short answer is “yes.” Though searching for different insurance companies can be difficult and aggravating, the end result could be well worth it. For example, it’s noted that you could actually save around fifteen percent off your vehicle insurance costs. It’s doesn’t hurt to shop around and find the best deal for you and your family. However, all states and insurance companies are different. You mind that there are limits in some areas to just how many vehicles you can actually insure with one policy.

Everything Else You Might Want To Know About Multiple Coverage

Other recreational vehicles (depending on state and insurance company) can also be covered under a single policy. These other types of vehicles can include, but are not limited to: boats, motorcycles, RVs, snowmobiles, and more. Again, check with your state and current insurance company to make sure these other vehicles could actually be covered under one policy. If they can’t, then you may want to look around for another insurance company to handle your needs, especially if that means you’ll be saving money.

When it comes to insurance coverage, you of course want a good company that is going to satisfy all of your needs. However, you also want a plan that isn’t overly expensive. If you have the potential to actually save money each month or annually, then you should try to take advantage of this could-be perk. Therefore, if you own more than one vehicle, consider having one insurance policy for all of your vehicles with the same company.