If you’re like most people, you are suddenly looking for any way you can to save money. The pandemic has made just about everything uncertain and uncertainty makes people want to hold on to their money.
Taking a look at your current car insurance costs is a great idea, especially if you haven’t done a full review in a while. Nowadays, you are most likely driving less than you did before COVID-19 hit. Shouldn’t that mean your car insurance rates should come down? If your rates aren’t coming down the way you want them to, it might be time to consider different types of auto insurance.
If you live in a household with multiple people and cars, a multi-car auto insurance policy could start you down the road towards savings. This type of policy allows multiple vehicles to be insured under one policy.
So what are the advantages and disadvantages of a multi-vehicle policy? Let’s take a look.
Multi-car or family insurance plans
Here are some ways that a multi-car policy could help you and everyone in your household:
If each car and driver in your household has their own car insurance policy, it’s hard to know if each vehicle and driver has enough coverage to protect your house, or if they are paying too much. By combining your vehicles and drivers, you provide some continuity in coverage across all vehicles and you only have one insurance company to deal with. This makes it easier to know that everyone and every car is covered.
Having everyone on the same policy will be cheaper than insuring everyone with their own individual plans. Spreading the cost of insuring the new cars for the adults and the older cars for the kids helps your total monthly costs to be more affordable.
But what about the disadvantages? There is generally no downside to a multi-vehicle insurance policy, but there is one thing to consider.
Drivers with poor records
If one of the drivers in your household has a poor driving record, you may not want this driver on your multi-vehicle policy. A truly bad driving history will raise the rate for everyone on the policy. Check the numbers, but you may find that it’s a bad idea to include someone with many tickets or violations.
InsuranceWins is here to help you find the policy you need. We aim to bring you the best deals from the auto insurance carriers you know.
All you have to do is give us a few details and we’ll do the shopping around for you. InsuranceWins can lead you to a better deal on your car insurance.