Multiple Vehicle Discounts Can Save Money On Your Car Insurance
When shopping around for car insurance quotes, you need to take advantage of every angle in order to save money on your auto insurance. Most people know about good driver’s discounts and good student discounts, but did you know you can save as much as 15% on your car insurance by maintaining multiple auto policies with the same insurer?
How Multiple Vehicle Discounts Work
Obviously, if you or your family only own one car, you won’t be able to get a multiple vehicle discount on your auto insurance policy. But if you do own two or more cars, talk to your insurance provider about multiple vehicle discounts, because many car insurance companies do offer up to 15% off if you give them business on more than one car.
This is not too surprising. Most products are discounted when higher units are purchased. But of course, car insurance isn’t like most products. Automobile insurance companies take on a high risk when they insure your car, so it’s not automatic that you’ll receive a multi-vehicle discount from your current car insurance company. Nevertheless, it’s a good idea to ask or even shop around for auto insurance companies that do offer such a discount.
Keep in mind that multiple vehicle discounts are not just restricted to cars, trucks and SUVs. If you own a motorcycle, boat, recreational vehicle or any other vehicle that requires insurance, you should consider bundling the insurance on each of these with your automobile to get a significant discount.
Consider Multiple Policy Discounts
In addition to multiple vehicle discounts, you should also consider multiple policy discounts. Many insurance companies offer discounts if you maintain more than one type of policy with them. For example, you can bundle life insurance and car insurance, or homeowner’s insurance and car insurance, with one insurance company. Generally speaking, the more policies you maintain with the same insurer, the greater the savings you can expect to get because the car insurance company passes on the savings for processing and billing.
Bundling vehicles into a single policy and maintaining multiple policies with the same insurer can be a hassle if you currently maintain policies with different insurers. But the savings may be worth it, especially considering you may be eligible to save hundreds, if not thousands, of dollars a year.
Cheaper Car Insurance Quotes
Start by asking your current insurer if they offer a multiple vehicle or multiple policy discounts. If they don’t, or if the savings is not that significant, shop around for competitive car insurance rates. MyCarInsuranceRates.com makes it easy to get a number of car insurance quotes from the best insurance companies nationwide. You can compare car insurance rates side by side to find the cheapest and best car insurance.
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