The cost of full auto coverage in America can vary widely depending on the state, often ranging from $1,000 to $2,700 per year.
That means insurance can be one of your most significant household expenses, especially if you live in a household with multiple cars or are planning to get a new car for a member of your family.
But there is some good news. You could get some terrific deals for insuring multiple cars with one insurer under multi-car household insurance.
If you feel that the deal you are getting with your current insurance provider isn’t the best, you may want to consider the tips offered in this guide to get cheap multi-car insurance coverage.
Check Insurance Deals Online
Many people hang on to their insurers, thinking they are the best in the market, perhaps because of their marketing efforts. But if you do some digging, you may be surprised you may have been getting quite a raw deal compared to what their competitors offer.
The good news is that searching for cheap multi-car household insurance online can help you spot good providers. While this method may be effective, you will get multiple results, and you may have a hard time separating the good from the bad.
But there is a way of checking insurance deals online without breaking a sweat. Using an auto insurance comparison tool can be an excellent way of finding affordable car insurance online without compromising the quality of services you get.
Ask For the Benefit
You could miss out on multi-car insurance benefits if you do not ask. Insurance companies are in the trade for the money, as seen when you compare car insurance cheap quotes.
If they can get as much as possible from you, they will happily do it and may not pressure you to take discounts if you don’t ask. So, it’s essential to ask if your insurer offers discounts and understand how they work.
Some insurers will allow you to insure multiple cars under multi-car insurance coverage and perhaps even non standard auto insurance, even when the vehicle owners don’t live under the same roof.
However, all the vehicles covered under the plan must be owned by immediate family members, so you can’t add your friend’s car to the list or vice versa, even if you live under the same roof.
Work On Your Credit Score
If you plan to add a vehicle to your existing one or are working towards getting married, which could mean one more car in your household, planning your insurance needs can be a good idea. Improving your credit rating can help you get cheaper premium rates for individual cars or multiple cars.
Many insurance companies hold that individuals with high credit scores are less likely to claim than their low credit score counterparts. You may also want to ensure that every other individual whose car you add to your multi-car plan has a healthy credit score.
Increase the Deductible
Having multiple vehicles under one cover can significantly bring down insurance costs compared to if you had individual coverage for each car. But you can always seek to save more by increasing your deductible.
Under a household car insurance plan, you only pay one deductible for all the vehicles in the plan. Raising your deductible can see a significant drop in the premiums you pay for your car insurance.
On the flip side, you will need to dig deeper into your pocket after an accident before your insurer contributes for damages suffered in the accident.
The biggest advantage to multi-car household insurance coverage is cost-saving, and everyone can use an extra dollar. If you are thinking of getting multi-car insurance coverage, the tips highlighted above can help you get a good deal.