Car insurance is expensive so most people look for deals. Luckily, there are many discounts available for policyholders. These discounts might include safe driver’s discounts and a package deal for homeowners. One of the biggest ways to save is a multi-car discount. Knowing how much you can save on auto insurance rates with a multicar policy discount helps determine if it is worth combining other cars in the household.
Every car insurance company gives a different discount rate, and the actual discount amount depends on a number of factors. Those factors include the driving records, credit scores, and the type of coverage for both parties. Compare prices on multicar discounts with various agencies to find the best deal for your household.
The discount for multicar policy discounts can be as low as 5%. That sounds inconsequential, but depending on the premium amount, it can add up to a very significant amount of money. Some insurance companies go as high as 25%, which is a huge discount that can make a difference in obtaining affordable insurance for all the vehicles at your home.
Details for Consideration
Since each company offers a different percentage on a discount for multicar insurance, the only way to find out what the actual discount will be is to contact the agent. The agent will ask a number of questions to give you the total discount amount. You will need the make and model of the car that is being added to the insurance along with driver information.
If you are adding another person to the policy, you should be aware of some things. The other driver could make the insurance rates rise instead of fall. For instance, if the new driver is a teenager, his or her rates will be higher than someone who has been driving for years with no incidents. If the new driver has had their license for a number of years but has a bad driving record, it could also mean rates will be higher. It pays to be certain that the other driver is able to pay his or her own portion of the insurance before adding him or her to the policy.
Multicar/multi-driver discounts are just the beginning. After all car insurance discounts are given, the amount actually paid out each year for car insurance is drastically reduced. Take advantage of such discounts because it can mean a lot more money in your pocket.
AutoInsurance.Info provides consumers with important information to help them save money on car insurance.