Who Can Benefit From Insuring Multiple Cars Together?
Households or families with more than one vehicle are the main beneficiaries of multi-car policies. Whether it’s a family with several drivers or a single person with multiple vehicles, this type of policy can be convenient and cost-effective. Typically, a multi-car policy is suitable for:
- Families with multiple cars and drivers
- Couples or individuals with more than one vehicle
- Households with young drivers sharing vehicles
What Are The Advantages Of Multi-Car Policies?
One of the main benefits of insuring more than one vehicle under the same policy is the potential for savings. Many insurers offer discounts for each additional car added to the policy. But there are other advantages too:
- Simplified management: All cars under one policy, with a single renewal date, making life easier when it comes to keeping track of cover.
- Customisable cover: Each vehicle can have different levels of cover, so one car could have fully comprehensive insurance whilst another has third-party, depending on the driver’s needs.
- No-claims discount flexibility: Some providers allow you to protect the no-claims bonus for each car separately, so a claim on one vehicle doesn’t affect the others.
How Does Adding Multiple Vehicles Impact Premiums?
Whilst multi-car policies can offer discounts, it’s important to understand how premiums are calculated. Insurers might still assess each car and driver separately, considering factors such as driving history, vehicle type, and usage. Here's what can influence your premium:
- Vehicle type: High-performance or luxury cars could raise the premium for the whole policy.
- Driver history: If one of the drivers has points on their licence or previous claims, it may impact the cost of insuring all the vehicles.
- Annual mileage: The more you drive, the higher the risk, and this may affect the premium for each vehicle.
Can Each Car Have Different Levels Of Cover?
Yes, one of the key benefits of multi-car policies is the ability to tailor the cover for each vehicle. If one car is driven frequently and another is only used occasionally, you can choose different levels of protection to match their usage. For example, a family car might require fully comprehensive cover, whilst a second car that’s rarely driven could be insured with a lower level of cover, such as third-party only.
What Happens If A Claim Is Made?
Making a claim on one vehicle doesn't necessarily affect the premiums of the others. Some insurers allow each car’s no-claims bonus to be treated separately, so a claim on one car won’t always impact the discount on another. However, this varies between providers, so it's worth checking the policy details before signing up.
Is A Multi-Car Policy Right For You?
If you have more than one car in your household, insuring them under a single policy could simplify the process and offer potential savings. It’s important to compare options to look for the best deal, as some insurers offer more competitive rates for multi-car cover than others. Think about your individual needs, and whether the convenience and potential cost savings make it worth combining your policies.
Ready To Look for The Best Insurance For Your Vehicles?
If you’re looking to insure multiple cars and want to explore your options, now is a great time to compare quotes. See how much you could save by combining your vehicles under one policy and make managing your insurance simpler today.
Why not get quotes now?