Multi-Car Insurance Discounts
(The more you have, the more you save.)
Written by
Maggie Tiede is a writer and blogger based in Saint Paul, Minnesota. Maggie has worked as a freelance writer since 2013, when she began reporting on politics, local events, health, and human interest for the Grand Rapids Herald-Review.
Reviewed by
Paul Martin is the Director of Education and Development for Myron Steves, one of the largest, most respected insurance wholesalers in the southern U.S.
If there’s one thing we can all agree on, it’s that cars are expensive. But what if you’ve got three, eight, or twenty-two of them? Luckily, multi-car insurance discounts are out there to help you save money on premiums.
Our independent insurance agents can help you get the right coverage on your entire fleet of cars, save you money, and do it all one-handed. But enough about our agents, let’s talk multi-car insurance discounts.What Are Multi-Car Insurance Discounts?
It’s simple: The more cars you have on one policy, the less you’ll pay in premiums for each car. To clarify: A multi-car discount doesn’t mean you’ll pay less for two cars than you would for just one car. It means you’ll pay less for two cars on one policy than you would for two cars on separate policies. Additionally, having multiple cars also brings up the topic of insurance stacking, which could be more costly upfront, but provides a better payout following an accident.
How Hard Is It to Get Multi-Car Insurance Discounts?
It’s as simple as having two or more cars and checking if you’re already getting the discount. If you are, great! You’re already saving money. If not, call your agent, STAT. They’ll help you bundle your policies and get the savings you’re entitled to.
The exception is if a driver you’d like to merge policies with has a really bad driving record, like a DUI or multiple bad accidents. Then, bundling could actually cost you money, because all drivers and cars would have to move to a company that insures risky drivers. That will likely cost you more in the long run.
How Do I Get Multi-Car Insurance Discounts?
Just ask nicely. Multi-car discounts are one of the simplest, best car insurance discounts available. Here’s a step-by-step guide to clinching the deal:
- Have multiple cars: If you just got married or moved in with someone and y’all have two vehicles, bingo. If a teenager in your family learned to drive and got a car, bingo again. If you own or lease multiple vehicles all by your lonesome, that’s cool too—another bingo. It’s the multiple-cars part that matters.
- Call up an agent: Do you need a new policy? Do you want to move multiple policies over onto one existing one? We don’t know, and you probably don’t either. That’s the agent’s job. Schedule a call or meeting to talk about multi-car discounts and they’ll walk you through it.
- Compare wisely: Your agent will likely provide you with multiple insurance quotes. This is a good time to ask about other common discounts you might qualify for, like good driver and military discounts. You can compare prices, discounts and coverage before deciding on the right deal for you.
- Celebrate: You’ll probably get a multi-car discount, and/or you’ll discover other, better ways to save money. Unlike many other discounts, this one’s super-simple and easy to get. Fist bump?
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The Benefits of an Independent Insurance Agent
Let’s face it, not many people out there are interested in knowing all there is to know about insurance—which makes our agents really one of a kind. Our independent insurance agents stay on top of the industry and all the latest discounts so you don’t have to. That means they’ll help you find the right coverage for you at the right price.
They’re not just there at the beginning, either. If you get in a jam and need to make a claim, they’ll help you meet deadlines and ensure you’re getting all the benefits you’re entitled to.