Written by Q: Will my auto insurance premium be lower if I have two cars on the policy?
AIS Answer: The actual answer is kind of. See, the bottom line is you’re adding one or more cars to a policy, and any time you add another vehicle your rates will more than likely go up to cover the additional risk, but, it doesn’t mean you can’t get a discount for adding another vehicle…I’ll explain.
The discount in question is called a “Multi-car discount”. It simply means that if you have two or more vehicles that are insured with the same company than you may be entitled to a multi-car discount. What this means is that you would essentially be paying less than those two vehicles would cost on two separate policies by combining them on one auto insurance plan.
A multi-car discount in no way, shape, or form means you’re all of a sudden going to have lower rates, in fact you will likely have higher rates than with just one car on the policy, but, if you add two cars (or add one car to an existing car on the plan) you can have two automobiles together on one auto insurance policy for a lower price than each vehicle on its own policy.
Keep in mind not all insurance companies offer a multi-car discount, and rates will vary from company to company and state to state. So do your homework and check with your local insurance agent, or a nationwide auto insurance company and see if you can save some money with a multi car discount.
Every insurance company I’ve been with has offered a multicar discount. All you have to do is mention you have two cars and they are all over it. I mean, they want your business, and the more vehicles you have the more they can charge. Also, when you own more than one vehicle it’s almost a given that you’re going to be driving both, which also means that one will be sitting when the other one is driven, thereby decreasing risk for a certain vehicle by at least 50%.
Also, if you’ve got a very expensive vehicle that is driven rarely with a certain number of estimated miles per year they’re still going to charge you the same amount – but they KNOW you’re not going to drive it much so they just sit there and collect money on a vehicle that isn’t driven as often.
The money you save from multiple cars discount is not a huge amount, in fact, it’s only like a few hundred a 6 month premium (from my experience), but if you own the cars anyway you should take the discount.
definitely! if you have more than 1 car on the same policy you’ll get a discount and if you have a home as well, that’s a big plus. You will prob save a few hundred dollars per cycle.
Insurance agents want your business, so they’re happy to get you deals.