Are you thinking of upgrading your insurance or adding another vehicle to your driveway? Whether you’ve already got a multi-car household or you’re going to shop around for a better deal, multi-car insurance could be an option for you and your family. Here’s why.
What is multi-car insurance?
Multi-car insurance policies allow you to have more than one vehicle insured on the same policy. Many insurance providers offer these policies, but there are certain rules and terms to follow.
You can typically keep several cars and drivers on the same policy. Most insurance providers stipulate that the drivers on the policy must be either:
- Immediate family members, or
- Living at the same address.
However, you must be listed as a named driver on any cars you don’t own if you would like to drive them under the policy.
Cost benefits of multi-car insurance
Cost savings are the most appealing benefit. That’s because you’ll get a discount for each car you add to a multi-car insurance policy.
It’s flexible too, so you won’t have to pay for any more than the cover that you actually need. You can choose between different:
- Cover levels: From third-party only to comprehensive cover, spend some time thinking about which level of cover best suits your household.
- Add-ons: You can change and customise the additional extras for each vehicle, so you could save on things like breakdown cover.
- Total excess: If you need to make a claim, the excess determines your upfront costs involved. For policies with more vehicles than just two, this may increase.
Who is eligible for multi-car insurance?
If your household has multiple cars, you’ll usually be eligible for multi-car insurance. Some providers accept non-related drivers who live at the same address. If you have penalty points on your licence, you’ll need to declare these and they may affect your eligibility.
The maximum number of cars you can insure is usually six, but some providers may have more flexibility on that number.
Immediate family members may be covered under your multi-car insurance policy regardless of where they live – all of these nuances depend on the individual policy and provider, so it’s worth doing your research.
What to think about
Various factors determine whether or not multi-car insurance is the correct choice for your family. It offers several benefits:
- It’s convenient: Keeping all your cars under the same policy streamlines the paperwork and payments.
- It could save you money: You’ll get a discount for each additional car on the policy.
- Protected savings: Each driver could get a protected no-claims bonus.
It’s just worth bearing in mind that since you’re covering multiple vehicles, you might need to pay a higher excess. Sometimes you’ll be locked in for 12 months and might need to pay for any changes you make while the policy is valid.
Ready to get started? Get online and compare some quotes now, taking the time to ask everyone in your household what they expect from their insurance.