Multi Car Insurance Quotes: Everything You Need to Know

What Is Multi-Car Insurance?

Multi-car insurance is any policy that includes more than one vehicle at a single address. When more than one driver lives at the same residence, they usually combine policies because it qualifies them for discounts. However, it is always a good idea to compare quotes and find out what discounts are available to determine if it is the right decision for you and your family.

Why Get Multi Car Insurance Quotes?

A multi-car insurance policy can provide you with significant cost savings — as much as 25 percent, according to Compare.com. Qualifying for this discount is also easy. In most cases, you just need to have more than one vehicle at the same address. Multi-car insurance policies can offer the following benefits:

• One deductible: With a multi-car policy, you are responsible for only one deductible, even if multiple vehicles are damaged in the same accident.

• Available stacking: Some insurance companies also allow co-policyholders to stack coverages. This means you can combine benefits from multiple vehicles to one accident.

• One payment/renewal date: Having one payment and renewal date is usually easier for members of the same household to remember.

• Reduced rates: The most common reason, and one of the biggest benefits, is reduced rates. Simply by combining policies, you can decrease your insurance rates, and this rate usually applies to all vehicles on the policy.

Requesting multiple multi-car insurance quotes can help you choose the right provider.

Who Is Eligible for a Multi-Car Insurance Policy?

As long as your primary residence has multiple vehicles, then you should qualify for a multi-car insurance policy. Some providers might have other requirements, such as requiring policyholders to be related or limiting the number of vehicles on the policy to four. If you have more than four vehicles, however, your insurance company might make an exception. They might be able to create a separate policy that is linked to the first, so you can still receive the multi-car discount. Also, some insurance providers, such as GEICO and Progressive, allow more than four vehicles on a policy.

Some providers allow anyone living at the same residence to combine policies, including roommates or unmarried couples. Contact your provider to learn about their rules or requirements.

You can obtain multi-car insurance quotes the same way you would when searching for the best provider for a single vehicle. You need to input information about each vehicle and driver on the policy. This includes each vehicle's VIN, as well as each driver's license number. Most insurance providers will also ask you to assign a primary driver to each vehicle on the policy. It is best to assign higher-risk drivers, such as those 25 years and under or with numerous traffic violations, to vehicles with lower values.

How Much Is a Multi-Car Insurance Policy?

Multi-car insurance policies vary in price significantly from provider to provider. For this reason, it's important to compare prices before adding your vehicle to your partner's policy. A discount of 10 percent versus 20 percent can make a significant difference in your monthly payments.

Before changing your policy, request multi-car insurance quotes from multiple providers and compare them. Consider not only the price but also how much coverage each one offers. You might find the best rates with the following providers, according to Compare.com:

• Amica Mutual: Multi-car insurance savings of as much as 25 percent

• Direct General: Multi-car insurance savings of as much as 25 percent

• Elephant Insurance: Multi-car insurance savings of as much as 30 percent

• Infinity Insurance: Multi-car insurance savings of as much as 38 percent