How to Save Money on Your Insurance – Multi Car Discounts

Some companies give you a discount for having more than one car insured with their company. This can be a pretty significant savings, but is certainly no reason to go out and buy another car…sounds silly, but I have had that question before. For most, it makes sense to insure all your cars with the same agency or company, but newly married couples for instance sometimes are stubborn about making such switches.


I always encourage folks to put everything into the office where they have the best  relationship intact. The savings for multiple cars is often similar with various companies,  ut having that relationship is often a key and extremely valuable deciding factor. One mistake folks make is that when they get a new vehicle or vehicles, they choose different coverages for the newer policies. Makes no sense. If you have an accident, you want the best policy.

Take your time, follow the advice given here, speak with an agent, and choose a policy with solid coverages. Then, when you get additional vehicles, make all the coverages the same.


One scenario in which mistakes occur is when someone is trading in an older vehicle for a newer one. The older car may have not had full coverage. If it was paid off, and was not worth much, this is likely. Once the agency does the car change, you will probably want to upgrade your coverages, ESPECIALLY if your car has a lien. Make CERTAIN that you get copies of this new policy reflecting the additional coverages. The lienholder will notify you if you don’t.

When you do have additional vehicles insured, make sure that you get copies of any changes you make. If you have to go to your local Motor Vehicle Department for any reason, once you are there is NOT the time to find out that someone made a change to the WRONG car in your household. Get copies of any changes, and make sure the company mails you a new policy.

Photo credit/Flickr/

This entry was posted on Saturday, July 25th, 2009 at 2:11 pm and is filed under article. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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