How Much You Can Save With Multi-Car Auto Insurance

The amount you'll save when purchasing a multi-car insurance policy varies by insurer — we compared rates from the top car insurance companies and discovered that Geico offers the best discount, offering up to a 25% discount for insuring multiple vehicles with them. However, we recommend obtaining multiple quotes because a multi-car discount is only one aspect of obtaining the best price on your car insurance.

Which Car Insurance Companies Have the Biggest Multi-Car Discounts?

We surveyed nine top insurance companies and discovered that they all provided a discount for insuring multiple vehicles. Some companies provided a specific percentage discount for insuring more than one vehicle, while others simply stated that a discount is available.

Geico had the best savings of the companies that offered a specific percentage discount: drivers can save up to 25% by insuring their vehicle through the company. State Farm also offered a substantial multi-car discount of 20% off.

We also discovered that Allstate, Farmers, Liberty Mutual, Nationwide, and USAA offered multi-car discounts; however, the insurers did not specify the amount.

Furthermore, you should take these percentage discounts with a grain of salt because the available discounts do not always begin with the same base price. Consider Company A offering you a 30% discount off the base price of $400 per month for insurance for two cars. Meanwhile, Company B only gives you a 10% discount, but it's starting price is $300 per month. Company B will have a lower effective price in this case.

A multi-car discount isn't the only way to save money on your car insurance. You may also be eligible for additional discounts, such as those for safe driving or customer loyalty, which may make one insurer a better deal than another. The only way to ensure you're getting the best deal is to get quotes from several insurance companies and then choose the one with the lowest price.

Other Benefits to a Multi-Car Insurance Policy

The ability to stack insurance coverages is another advantage of a multi-car insurance policy. Stacking coverage allows you to take advantage of the total amount of your coverage at any time in states where it is available. If you have two cars and stack your $50,000 uninsured motorist (UIM) coverage, you effectively have a $100,000 UIM policy protecting you at all times — usually at a lower cost than a non-stacked policy with the same total limit. The ability to stack certain coverages varies by state, but the most common options are UIM and PIP coverage.

A multi-car insurance policy also simplifies the payment process for your insurance. There is only one recurring payment to make and one policy renewal date to remember. This benefit does not directly save you money, but it can save you time and effort.

How Does a Multi-Car Insurance Policy Work?

Multi-car insurance policies, for the most part, function similarly to single-car policies. When you fill out the quote form, you'll tell us about the cars you own and who drives them. Some car insurance companies inquire as to who is the primary driver for each vehicle, which vehicle is the primary vehicle for each driver, or both. When you apply for car insurance, the company will automatically apply any multi-vehicle discounts to your quote.

Some coverages apply to all drivers on a policy, while others only apply to one vehicle. Liability coverage, for example, is shared by every vehicle (and every driver) on your policy. In the meantime, comprehensive and collision coverage can be customized for each vehicle. This way, you can have full coverage on your new Acura without having to pay extra for coverage on your teen driver's 15-year-old Toyota Camry.

Who Can I Insure With a Multi-Car Policy?

A multi-car insurance policy can be shared with anyone you live with. Your spouse, children, other family members, and even roommates are all included. In fact, it's a good idea to include anyone who lives with you and may occasionally drive your car on your policy. If your roommate causes a car accident and isn't listed on your policy, you won't be able to file a claim with your car insurance to cover the damage.

How to Get the Cheapest Multi-Car Insurance Quotes

If you simply want to add your new vehicle to your policy as soon as possible, you can call your insurance agent or go online and do so — it will only take a few minutes. However, purchasing a new car is an excellent time to shop around for multiple car insurance quotes. Car insurance companies are constantly changing how they evaluate rates, and your current provider may no longer offer the best deal now that you have multiple vehicles.

Car insurance companies have worked to simplify the process of obtaining quotes online, particularly for multiple vehicles. However, the process still requires a significant amount of repetitive data entry. You can expedite the process by gathering the following data ahead of time:

Information to Have Ready When Getting a Multi-Car Insurance Policy

• Car VIN Numbers
• Approximate weekly or yearly mileage for each vehicle
• Who drives each car the most
• Driver's license and Social Security number for each driver

You can save even more time by recording longer numbers, such as VINs and driver's license numbers, digitally and pasting them into the appropriate fields, rather than transcribing them by hand.

How Many Cars Can I Insure on One Insurance Policy?

Every insurance company we contacted allows you to insure multiple vehicles, but not every company will allow you to insure the same number of vehicles on an online quote. We discovered that Geico allows you to add the most vehicles (nine) of any major insurance company, but every company allows you to have at least four vehicles on your policy.

If you need to insure ten or more vehicles, you may be able to add additional vehicles to your policy by working directly with an agent or purchasing a commercial car insurance policy.