When families sit down to evaluate their annual budget, consolidating auto insurance coverage under one carrier for everyone in the household who drives a car is one of the best ways to save some money and lower every family member’s insurance rates. The simple act of insuring more than one car with the same insurance carrier automatically qualifies you for discounts as deep as 25% off the company’s best regular rates.
Consolidating to One Policy
If you are already holding auto insurance policies from several different insurance carriers, it pays to contact each company and inquire about receiving a multi car discount by moving all of your car insurance policies to one insurance carrier willing to offer a discounted rate. If anyone in the household is insuring a vehicle that they currently have in storage, however, the multi car discount does not apply to the stored vehicle.
Multiple Car Discount Makes Driving for Teenage Drivers Affordable
Asking about qualifying for a multiple car discount is especially important for families that include teenage drivers and young drivers under the age of 25 who may not have much driving experience because these are drivers who typically must pay the highest insurance rates because they represent the most at-risk category of drivers for accidents and moving violations. A family who thinks that they cannot afford to allow their teenage drivers to have a car are often surprised that qualifying for a multiple car discount often makes having everyone in the home covered by adequate liablility and collision insurance while driving is actually affordable.
When is the Multiple Car Discount Applied?
Car owners sometimes get confused about how the multiple car discount is applied. If the head of the household has an insurance policy with a major insurance carrier, then adds a second car under his policy, both the the first and second cars have the multiple car discount applied to their rates. If a third or fourth member in the family gets added to the policy, only the third and fourth car will have the discount applied to their rates, but there is no additional discount applied to the first and second cars on the policy since the discount itself doesn’t multiply as more cars are added to the policy.
You don’t have to wait until your current policy comes up for renewal to inquire about getting everyone in your household coordinated under one main policy that offers substantial savings, usually as much as 25%. Having a multiple car discount is one of the easiest ways for entire families to enjoy much lower automobile insurance costs.