How does multi-car insurance work?

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There are many different types of insurance available today, and finding one that offers you the right coverage for the best price can be difficult. This can become even more tricky when you own several cars that all need insurance.

That being said, there’s one type of policy that’s the perfect option in these cases – multi-car insurance.

And as with any type of insurance, it’s good to know how it works and what the process involves, before you opt for this policy.

Read on to find out more.

What is multi-car insurance?

Multi-car insurance is a unique type of insurance that allows you to insure multiple cars under one policy.

Whereas standard insurance policies provide coverage for your vehicle – and with multiple cars, you’d need to take out a policy for each – multi-car insurance gives all vehicles coverage, just with one policy instead of multiple.

How does multi-car insurance work?

Multi-car insurance works in a very similar manner to your standard insurance policies, it’s simply more efficient and manageable, with everything included in one policy.

The first thing you’d need to do is contact your chosen provider, and begin entering in your information to get your insurance quote.

Just like you would with a standard policy, you need to enter a variety of details on the cars you want included in the policy, such as the history, model, mechanics, etc., as well as your own information. You’ll also need to establish the type of coverage you want for your cars.

Once you’ve completed this, you should receive your insurance quote for the entire policy – it’s as simple as that.

When it comes to how many cars you can include on your policy, this might vary depending on your insurer, so contact them for exact information. Usually though, there’s a maximum limit of four cars.

Also, it’s worth noting that each of your cars must be registered in your name, and under your home address. This excludes any vehicles in other people’s names, or cars you’ve bought that reside in another state, for example.

Another key aspect of multi-car insurance, which also acts as one of the main reasons this policy is so popular among drivers, is that you can receive discounted premiums for your additional cars.

Each time you add a new car to your insurance policy, there will be a multi-car discount that’s applied to the premiums you receive, and this process is replicated with every car added. It also includes the very first car on the policy, but the discount won’t be applied until a second car is added.

There might also be instances where you want to change the coverage on one of your cars, and this can also be done very easily. Simply contact your insurance provider – or use their online platform if they have one – and adjust the coverage you want for each vehicle. This may impact your insurance premium price, so be sure to check when you make any necessary changes.

Coverage can be tailored to each vehicle, and doesn’t need to be the same for every car, despite them being on the same policy. For instance, more expensive cars you own can be given extra coverage, whilst less valuable cars can have the minimum coverage legally required.

As well as this, you can edit your policy if you should change or trade one of your cars for a new one, or add a new car entirely to the policy. You just need to contact your provider and give them the information on the new car you want added to the policy. As with your coverage, this change can also impact your insurance premium price.

Now you know how multi-car insurance works, is this the ideal policy for you and your many cars?

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