If you’re like a lot of people, you’ll take any opportunity to save on car insurance. Which is perfectly sensible – car insurance can be pricey! Any opportunity to save money on your auto insurance is definitely worth considering. Since choosing the cheapest car insurance might not be the best way to go and you might want to get higher than the state minimum levels of car insurance, your bill might be higher than you’d like. The good news is that there are lots of car insurance discounts you can consider to help you along with that quest. One such discount is the multi-car discount. We’ll explain what that is and when you can get it.
What is the multi-car discount?
The multi-car discount is a discount that applies when you have more than one car insured on a policy. For example, if you’re married and you have both your vehicle and your spouse’s vehicle on the same policy, you can get the discount. Now, the percentage that you’ll save varies from carrier to carrier, but generally, it’s a significant amount. It’s worth it to take advantage of the discount if you have more than one car in your household.
Now, all of your cars don’t have to be on the same policy necessarily to take advantage of the discount. If you have multiple vehicles insured with the same carrier and they’re on separate policies, you could still get the multi-car discount as long as the policyholders reside at the same address. For example, if you have your grown-up kiddo living at home and they have their own car insurance policy with your same carrier, you can usually get the discount.
Which is good news for everyone, right?
Protect your car & save money. Get a quick auto insurance quote today.
What happens if you take a car off the policy?
Well, that’s the thing…
Let’s say that you have two cars and you’re taking advantage of the multi-car discount to get a reduced rate on your insurance. But you and your spouse no longer need the second vehicle, so you sell it and take it off the policy. The discount will be removed from the car that you kept. You might expect your rates to go down by quite a bit because you’re only insuring one car as opposed to two, but the difference might not be as significant as you hoped. That’s because you lost your multi-car discount.
It can pay to keep your insurance with the same carrier.
The multi-car discount is only one example of how it’s easy to save when you keep your insurance policies with the same carrier.
Another example is bundling your home and auto insurance. Many carriers offer a significant discount for bundling, meaning that you get more than one type of insurance from them. (You can bundle your auto insurance and your renter’s insurance, for example.)
Of course, it’s important to give yourself options when it comes to your insurance, but it can pay off in the end if you decide to stick with one insurance carrier. Keep the multi-car discount and the bundling discount in mind when you’re getting home insurance and auto insurance.
Other car insurance discounts to consider.
The multi-car discount is not the only discount you might be able to get. Some other discounts you should ask your agent about are:
- The Good Student Discount: If you’re in high school or college (or under 25), you might qualify for The Good Student Discount if you make good grades.
- Safe driver discount: Many insurance carriers reward safe driving by giving discounts if you go a certain amount of time without an accident.
- Low-mileage discount: If you don’t drive very much, you have a lower risk of being in an accident. And so your insurance carrier might offer you a discount.
- Automatic payments discount: If you set up automatic payments, you could see lower rates – your bill is never going to be late, after all!
- Paperless discount: Some carriers offer a discount if you’re willing to do your bill-paying online.
So, that’s what the multi-car discount is and how it can help you save money on your car insurance. When you get auto insurance, make sure you’re taking advantage of the various discounts that your carrier offers. There’s no reason to pay more for the same car insurance if you can score some quick savings with a discount!
Get started with car insurance quotes by filling out our online quote form, messaging us on LiveChat, or giving us a call. Our team of insurance experts would be happy to help you get great car insurance at a great rate – and we’ll make insurance easy.