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Multi-Car Insurance: Discounts for 2+ Autos

Written by Todd Clay. Posted in Research Last Updated: 10/14/2011

Getting multi-car insurance and the discounts to go with it.

multi-car insurance discounts save you money

Saving a couple hundred bucks is entirely possible with a multi-car insurance discount.

Most consumers know insurance companies offer car insurance discounts. However, not everybody knows exactly what discounts are offered with each insurance company. Discounts even change depending on your state and what vehicle you drive.

The basic discounts that are seen most often on all car insurance policies are safe driver discounts, car alarm discounts and even good student discounts. One of the larger discounts insurers offer is the multi-car insurance discount.

Multi-Car Insurance Discounts

Getting multi-car insurance, also known as the ‘multi-car discount’ can turn into big savings on your auto insurance premiums. To get the discount you have to have multiple cars on your policy (of course), but they don’t have to all be owned by you.  You and a significant other that are not legally married can both have your vehicles on the same insurance policy so that you can get the discount.

Just keep in mind though that a bad driving record for anyone on the policy will increase the premium for everyone.  Even with the multi-car insurance discount, if you are the one with the clean driving record, your insurance may be higher if you combine insurance.

As for the multi-car insurance discount, you can save 10% or more on your monthly, semi-annual, or annual premiums depending on the company – not a small amount when you’re insuring more than one vehicle. Discounts vary between insurers and will sometimes change, so it’s important to check with the company to find out what the current multi-car insurance discount is.

By insuring multiple vehicles, insurers can charge less premium to a family. Either way, that translates to savings for you.

How to Get Multi-Car Insurance Discounts

The easiest way to get the multi-car insurance discount is to ask. Most of the time, insurance companies will give the multi-car insurance discount on a new quote. However, you should still ask to include the multi-car insurance discount in each quote. Here are some times to ask about the discount.

Whenever you…

  • Buy a new car.
  • Buy a used car.
  • Inherit a car.
  • Win a car.
  • Combine two households with more than one car.

Whatever the case, if you have more than one car in your household, you’re probably eligible for multi-car insurance. Make sure your insurance company is giving you credit for each car to maximize your savings.

One final consideration about multi-car insurance is the different discounts each company offers. Your current insurer could be a great price for one vehicle, but their multi-car insurance discount may be paltry. Whenever you add another vehicle to your insurance, get a price from your current company, then get some more quotes. A new policy with another company could mean significant savings on your auto premiums, especially if they have a better multi-car insurance discount, so it’s always good to shop around.

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Todd Clay

Todd Clay is a former insurance agent with the largest insurance company in the United States. He earned his Bachelor’s from the University of Texas. He's worked in several fields but has specialized in insurance, financial-related information, and technology. He blogs at Car Insurance Guidebook. Connect with Tood on Google+

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