What’s the Cheapest Way to Insure a Second Car?

Car insurance policies are a large expense, costing people a significant amount of money each year. People who purchase second automobiles are adding to this expense, and are often looking to find the cheapest way to insure more than one vehicle. Those who are looking to get insurance plans that are affordable for both of their vehicles, and make ends meet, will do well to read this article. There are many ways people can save money on car insurance for multiple vehicles, which will be explored. While there is not a one solution fits all for these types of situations, following these tips and guidelines can help you come away with savings on car insurance.

A Multi-Car Insurance Policy Is Typically Cheaper Than Separate Policies

It is not uncommon for a household in the United States to have more than one vehicle. Some households do not have any vehicles at all, others have just one car, and others still have more than two vehicles. If you are a household that has more than one vehicle or are looking to purchase a second vehicle in your household, one of the easiest ways to find better rates for car insurance plans is to put them on the same insurance policy. While there are some circumstances where having multiple policies could help you save money overall, in most cases taking advantage of a multicar discount helps keep more money in your wallet.

Most auto insurance providers offer multicar discounts. By bundling multiple insurance policies together, drivers can save money. Companies want to attract as much of your business as they can, but statistics also play a role in why having a multicar policy is cheaper. Also, it streamlines the number of bills you have to pay as a driver. Not having to pay attention to multiple auto insurance providers can be a large convenience. Plus, the ability to renew both policies on a single renewal date adds to the convenience even more.

These types of car insurance plans, ones that have multiple vehicles will cover between two and five vehicles in most cases. Some companies that sell car insurance will limit these types of plans to four vehicles, however.

Multi-Car Policies Aren’t Always Cheaper

Keep in mind that multicar policies are not always cheaper. If one driver in the household has at-fault collisions on their driving record, adding their car insurance plan to other people’s car insurance policies can raise the average price for all of the policies in negative ways. This can result in each person paying more than they need to for their insurance. Instead, getting separate policies and signing an agreement with your insurance provider that guarantees you will not let the higher risk driver operate your vehicle can save you money. If you do not do this, your premiums will be higher simply because the person is living in your house.

What Are The Requirements For Multi-Car Insurance Discounts?

People who are looking to get multicar discounts will find different rule sets from different insurance companies. Common requirements that affect eligibility can include a requirement for all vehicles to be garaged or parked in the same household. Also, commercial vehicles cannot usually be bundled under standard passenger vehicle insurance policies. Not only that, but each car that is being bundled often needs to have at least liability coverage that fulfills the minimum requirements for car insurance in your state.

Some automobile insurance providers offer multicar discounts when bundling a motorcycle insurance policy with an ordinary car insurance policy as well. Not all auto insurance carriers allow this, however.

Ask About Secondary Vehicle Discounts For Low Mileage And Low Usage

People who have a secondary vehicle that they do not drive often might be able to qualify for low mileage and low usage discounts. For people who are in this position, including people who have a separate vehicle for daytimes as they do for evenings and weekends, discounts are sometimes provided by car insurance providers. The fewer miles a person puts on their vehicle, the less likely they are to make an auto insurance claim. This can help you save money through available discounts.

Ask About Classic Car Discounts

Other vehicles that are not driven often are classic cars. Often considered secondary vehicles, this is another example of car insurance companies giving discounts when they know that a person is putting fewer miles on their vehicle. If one vehicle you own is being utilized less than another vehicle that you own, you can often get a discount on your plan.

Anytime you’re looking to save money on car insurance, look to DriversInsurance for your needs. Finding the best prices for car insurance starts with comparing policies from multiple companies. It is recommended to use the tools here at DriversInsurance to compare policies every year or two. As you get older, your car insurance rates can go down. Not only that, but significant life events can affect your rates, as can improved credit scores and improved driving records. Find the best deals for car insurance available at DriversInsurance.