If you have more than one car in your household, you need insurance on all of them. However, why should you have to worry about paying for multiple policies? If you’re able to, why not let a multi-car auto insurance policy insure you instead? 

Some people think that a multi-car policy only provides a one-size-fits-all solution for a lot of different assets. That isn’t true. You have a lot of options to tailor multi-car insurance policies to your vehicles’ unique needs. Therefore, coverage can provide enough protection, but also can save you money.

The Benefits of Multi-Car Insurance Policies

Multi-car insurance policies are exactly what they sound like. With one of these policies, you’re able to insure multiple cars with the same insurance policy. So, as long as you have two or more cars in your household, you will often qualify for this coverage.

With multi-car policies, you won’t have to worry about keeping track of the payments and maintenance on several policies. That can save you time and money, as one multi-car policy is often cheaper than several single-vehicle policies. You’ll have easily-defined coverage for numerous assets and drivers in one place.

Adjusting Your Coverage

When setting up your multi-car policy, you will have a degree of leeway in choosing the coverage limits, drivers and vehicles you want to insure.

• You can name multiple drivers, like your spouse or children on the policies.
• Policies will provide each driver with liability and uninsured motorist insurance that meets at least Maryland’s insurance requirements. You can, and should, increase this coverage.
• When adding optional coverage elements, like collision or comprehensive insurance, you can often choose to carry this coverage only on certain cars, rather than all of them.

Things to Watch For

Despite multiple perks, always think carefully about if it really is the best fit for you.

• You usually can only insure similar vehicles on the same policies. For example, you cannot insure RVs and motorcycles on the same policies as standard cars or SUVs. However, you can still often bundle these policies with a car insurance policy from the same insurer.
• High-value, antique or classic cars usually need specialty insurance coverage and limits compared to your everyday vehicles. Therefore, you might not find a multi-car policy beneficial if you need to insure these items.
• Sometimes, if you don’t own a vehicle, you cannot insure it on a multi-car policy. However, other insurers will allow you to do so if the vehicle’s owner is a family member resides in the same home as you.

Regardless of if you can afford multiple car insurance policies, you benefit from the convenience and savings offered by multi-car policies.

Also Read: Expensive Car? Consider High End Auto Insurance