We all know that car insurance is essential. It covers against any expense if a vehicle is damaged and insures against injury to the driver and passengers whilst travelling in the vehicle. We know how important it is but getting insurance quotes and remembering to renew policies can be a real hassle, especially if you have more than one car in your household. This is where multi car insurance policies can come in really handy. Multi car insurance is designed to cover multiple vehicles within one policy, meaning less paperwork and less hassle.
Single policy vs Multi Car policy
Single insurance policies cover named drivers for the use of one vehicle. The main driver will accrue no claims discounts and the policy will have a set excess amount. If a household has more than one car, and each car has a single policy, the car owners will need to take charge of renewing their insurance annually.
The benefits of Multi Car Insurance
Households with multiple vehicles, who choose multi car and van insurance, will avoid the hassle of renewing each policy individually. All the cars will be renewed at once, via the same policy. Policies such as multi car insurance at Hastings even include people who are unrelated. Multi car insurance policies also often include discounts, becoming more generous as additional cars are added. Admiral multi car insurance claims that customers can save over £356 annually by including all cars in one policy. In addition to this, insurers may offer additional loyalty benefits. For example, Tesco multi car insurance is cheaper for clubcard customers. On average, policies can include a maximum of five cars but a few companies will offer in excess of this. Direct Line multi car insurance allows you to insure 4 cars online but up to 10 if you take out a policy over the phone and LV multi car insurance will cover upto 6 cars and 12 drivers, as long as all of the cars are registered to the same address.
What to look out for
Although multi car insurance policies usually offer good discounts, it is still advisable to compare prices as two or more single policies may still be cheaper. This is particularly true if policyholders have varying degrees of driving experience or circumstances which may make premiums higher. For example, a 40 year old woman will have significantly cheaper premiums than her 17 year old daughter. The price becomes higher for the older woman but a multi car policy is likely to work out cheaper for the younger woman. However, it may be that families are happy to incorporate these differences to benefit their children. Looking at companies who offer competitive rates for younger drivers such as Go Skippy multi car insurance may be a good option in this scenario.
No Claims Bonus
Most companies will protect the no claims bonus of each driver, so that if one person has to claim, it won’t affect the no claims discounts of the other drivers. It is, however, worth checking that this is the case before accepting a quote. Esure multi car insurance offers to match the value of the highest no claims bonus for all the other drivers which is something you may want to look out for too.