Cheapest Multi Car Insurance (2022) – MarketWatch | CarTailz

Car insurance can make your car protection more convenient and less expensive. We at the Home Media Review team have researched coverage options for multi-vehicle policies and will highlight some of the markets best car insurance companies. We’ll also help you find the cheapest multi-car insurance policies to suit your individual needs.

Overview of car insurance

Multi-car insurance is available from most providers and often comes with some sort of discount. In addition to saving money, multi-vehicle insurance can make paying your premiums easier. It’s much easier to make a single payment than to spread payments and dues across multiple vehicles.

There are some potential downsides to multi-car insurance. Adding a high-risk driver to your policy may result in a higher overall premium. It can also be difficult to say exactly how much discount each provider is offering for multi-vehicle insurance. As always, Compare car insurance Quotes from multiple providers and asking your insurance agent lots of questions are clever strategies for finding the best rates.

Types of insurance coverage for multiple cars

In general, multi-car insurance works the same as a single car policy. A key difference is how the coverage types are divided among the vehicles in a multi-vehicle plan. Liability insurance for personal injury and liability insurance for property damage are shared, as is medical payment protection (MedPay) and coverage for uninsured motorists.

Comprehensive coverage and collision protection can be applied for separately to get the cheapest multi-car insurance. This flexibility is a nice benefit when you need to insure both a new car and a higher mileage vehicle that you don’t want to protect with full coverage.

Who is Eligible for Multi-Car Coverage?

You can add anyone you live with to your multiple car policy. This usually means your spouse, children or other family members, but can also include housemates. It’s a good idea to add the names of people who might be driving your vehicle in the event of an accident that you caused.

How much does multi-car insurance cost?

According to our estimates, the average cost of fully comprehensive car insurance is approx $1,730 per year or $144 per month. Even with a discount for adding multiple vehicles to a single policy, you can expect to pay more overall than you would for covering a single vehicle.

Keep in mind that car coverage rates are determined by a variety of factors. Here are a few things providers consider when setting insurance premiums for multiple cars:

  • types of vehicles
  • location
  • Age, sex and marital status of policyholders
  • Credit Scores
  • driving records

Some of these cost-determining factors are out of your control. Strategies you can use to get cheap car insurance These include choosing lower coverage levels or limited coverage limits, opting for a higher deductible, and bundling auto insurance with homeowner or renter coverage.

How to find cheap multi-car insurance deals

Getting lower auto insurance rates is usually a matter of comparing auto insurance quotes from multiple providers. The process is pretty much the same for finding the cheapest car insurance prices for more than one vehicle. When obtaining different insurance quotes, have the following information ready:

  • Vehicle Identification Numbers (VIN) for all vehicles
  • Approximate annual mileage for each vehicle
  • Driving license number for each insured driver
  • Name of the person who drives the respective vehicle most often

Make sure you compare online quotes from different auto insurance providers to determine which ones can offer you the best rates for covering more than one vehicle.

Which providers offer a multi-car insurance discount?

Most auto insurers compete with each other to offer the cheapest multi-car insurance rates. Because of this, you can often find discount opportunities for multiple cars. The following are some providers that will reduce your per-vehicle rate when you add additional cars to your plan:

  • all states
  • farmers
  • geiko
  • Reciprocal freedom
  • nationwide
  • Progressive
  • district farm
  • traveler
  • USAA

This list is not exhaustive, so be sure to check with other auto insurance agents in your area if you’re considering another provider. You might find others too car insurance discounts that might outweigh the benefits of having one specific insurer option for multiple car coverage.

Cheapest multi-car insurance: conclusion

If you want to find the cheapest car insurance, you need to compare. Since not all providers offer the same discounts for multi-vehicle coverage, you should ask yourself many questions before making your purchase.

Top auto insurance recommendations

If you’re looking for the cheapest auto insurance rates, we recommend starting your search with State Farm, Geico, and Liberty Mutual.

#1 State Farm: Editor’s Choice

State Farm is one of America’s leading insurance companies and earns our Editor’s Choice Award for affordable rates, outstanding customer service and industry reputation. The company holds one Rating A+ by the Better Business Bureau (BBB) ​​and on Financial strength rating A++ by AM Best.

State Farm’s multi-car rebate is one of the most generous in the industry. When two or more vehicles are insured through the company and owned by relatives, policyholders can save up to 20%.

Continue reading: State farm insurance review

#2 Geico: Affordable for most riders

Geico is the second largest auto insurer in the country. The company is known for its consistently low prices and offers widespread availability across the US. Geico boasts Rating A+ from BBB and a Financial strength A++ Review by AM Best. Geico’s multiple car discount beats State Farm’s with potential savings of up to 25%.

Continue reading: Geico insurance review

#3 Liberty Mutual: Good programs for young drivers

Liberty Mutual holds one Rating A+ by the BBB with accreditation. The company also has one A financial strength rating from AM Best, showing it can easily cover auto insurance claims.

Although Liberty Mutual doesn’t state how much discount you can unlock by insuring multiple vehicles, we give the provider a 9.2 star rating out of 10.0 for cost. That means any savings will come from already low rates, especially for teen drivers adding to a policy.

Continue reading: Review of Liberty Mutual Insurance

Cheapest multi-car insurance: FAQ

Below are some frequently asked questions about the cheapest multiple car insurance policies.

Our methodology

Because consumers rely on us to provide objective and accurate information, we have developed a comprehensive rating system to formulate our ranking of the best auto insurance companies. We collected data on dozens of auto insurance providers to rank the companies based on a variety of ranking factors. The end result was an overall rating for each provider, with the insurers with the most points topping the list.

Here are the factors our reviews take into account:

  • Cost (30% of total score): Auto insurance rate estimates and discount opportunities generated by Quadrant Information Services have been included.
  • Coverage (30% of total score): Companies that offer a variety of insurance coverage choices are more likely to meet consumer needs.
  • Reputation (15% of total score): Our research team considered market share, reviews from industry experts, and years in business to assign this rating.
  • Availability (10% of total score): Auto insurance companies with greater state availability and fewer licensing requirements scored highest in this category.
  • Customer Experience (15% of total score): This score is based on the number of complaints reported by NAIC and customer satisfaction ratings reported by JD Power. We also considered the responsiveness, friendliness and helpfulness of each insurance company’s customer service team based on our own buyer analysis.

*Data correct at time of publication.

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