Many people have more than one car. If you don’t have all your vehicles insured under one policy, you probably should. The general rule of thumb for multi car policy insurance from most insurers is the following:
- All vehicles must be stored, garaged or kept at the same address
- Vehicles liability and uninsured motorist coverages must be the same on all vehicles
Whether a car has collision, comprehensive, towing or other options is an individual option.
Why should you consider insuring all your vehicles with a multi car insurance policy? Convenience is certainly one reason. Dealing with one insurance company for payments and information makes your life a bit easier. In the event of an accident or a weather event that affects all vehicles at your address, like a hailstorm for instance. Claims are easier too. The other reason is cost. A multi car insurance policy can potentially save you money. How much? A multi car insurance quote is available at ConsumerCoverage.com and you can compare multi car insurance quotes with your current costs and coverage and see what some of this country’s major vehicle insurers would charge you for premiums.
When can a multi car policy not be beneficial? Since the requirement is simply all vehicles stored at an address if one of the drivers has a poor driving record with multiple tickets for violations or a DUI/DWI it can impact all the vehicles and drivers. Another possible negative would be if one of the vehicles is a high performance or “sporty” vehicle, or a particularly luxurious one that too can affect all vehicles on the policy since it is considered one policy. Finally, a driver with poor credit among the vehicle owners can also increase costs.
Whenever you have several vehicles on a single insurance coverage, you are eligible for a multi-car discount. Auto insurance businesses love having multiple drivers on a single coverage, so obviously, multi-car reductions are one of their generous offerings. Some multi-car reductions are as large as 25% –that is a fairly substantial chunk of change which you are going to be saving.
But discounts are not the sole method bundling cars on one coverage makes it possible to conserve. You could even save with one deductible. Say, for example, your vehicle and your brother’s automobile both maintain damage in the identical extreme weather occasion. You need to submit a claim for the two cars because the harm is indeed important. You will simply need to pay one allowance since both vehicles are about precisely the exact same policy, which might cut prices in half possibly.
Another way individuals save bundling is using a concept called insurance stacking. What this signifies is you, and also the person that you share your auto insurance policy with, can unite your policy advantages and put it toward one claim. Therefore, in the event that you need to submit a claim which exceeds your policy limitations, your brother’s automobile insurance policy coverage may kick in and manage the remainder of the claim. This may be hugely beneficial in case you need to submit a huge auto insurance case.
At ConsumerCoverage it costs nothing to obtain a quote for multi car insurance. It will allow you to compare several companies and you will be able to customize overage for a newer car that needs full coverage and an old one on which the owner may just want liability so long as the liability and uninsured/underinsured amounts are the same.
In some states an accident for one vehicle whose liability limit is exceeded the policy of another vehicle on that same policy can be added to protect the owner from personal financial loss.
At Consumer Coverage.com multi-vehicle insurance policies are just one of the insurance types that you can find. Nonowner car insurance, high-risk driver insurance as well as liability only or full coverage options are also available. In fact, this internet site is a provider of quotes, service, agent contact, and policies for home, health, life, and vehicle insurance. If you need insurance, want to compare quotes, or have other insurance questions, ConsumerCoverage.com is your insurance source. Period!