Most vehicle owners would agree that car insurance can be expensive and with so many households owning more than one car the costs soon add up. Multi vehicle insurance is the ideal way for families and groups to save money on their car insurance so if you own more than one car then read on to find out how multi car insurance could help you.
What is Multi Car Insurance?
Multi car insurance allows several vehicles to be insured together, which can reduce the overall cost of insuring by up to 10%. Insurance companies reward you for taking out multiple car insurance because several people can be included on one policy, making their lives simpler.
How Does Multi Car Insurance Work?
Multi car insurance is very similar to single car insurance and has all the same requirements. However, you can insure up to six vehicles with multi car insurance, which brings the cost of insuring down for all the vehicle owners. In order to be eligible all owners must live in the same residence and be the named driver on their vehicle.
Will I benefit from Multi Car Insurance?
The best way to see if you’ll make a saving is by checking multi car insurance comparison sites and measuring the quotes you get against what you already pay for a single car. In many cases you’ll find that you can make significant savings.
Make sure you know the ins and outs of a policy before you sign and find out what happens to your no claims bonus if another driver makes a claim. You could make a bigger saving if you pay for your insurance in a lump sum rather than monthly.
In most cases you won’t benefit from adding young drivers to a multi car insurance plan as they are considered high risk which means more expensive insurance.
How do I find the best deal on Multi car Insurance?
The most effective way to find out about all the different deals on offer is to get multi car insurance quotes from several different companies. Start with your present insurer and then use price comparison sites to see what other deals are available. With so many different companies all vying for your business you can find lots of deals and special offers so shop around to find the policy that’s right for you. Many companies will also offer a discount if you purchase your insurance online.
Whichever policy you choose, make sure to always read the small print so you know exactly what you are and are not covered for and make sure that everyone who is insured on the policy understands what they need to do to keep it valid. For example if you’ve stated that your vehicles will be parked off the road then you must stick to this or you could make the policy void.