Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Mar 19, 2020

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The lowdown...

  • It is possible to insure all the vehicles in your household under one policy
  • Auto insurers often give discounts to customers who insure more than one vehicle with them; this is a reward for bringing more business to them
  • You can save on auto insurance if you have a teenage driver in your house by purchasing a multi-policy coverage for all the vehicles in your household
  • Bundling your policies i.e. combining your auto insurance with your homeowner’s or condo insurance from one insurer can help you save on auto insurance costs
  • Compare as many quotes as you can to get the best rates possible

Looking for cheaper car insurance for your household? You need to think of smarter ways to purchase coverage and cut costs.

Most auto insurance companies will give you the opportunity to have all the cars and drivers in your household under one policy. With this option, you will be able to save on car insurance costs.

The discount you receive will be a reward for bringing more business to your auto insurer.

If the cars belong to other people, even if you all live in one house, most auto insurance companies require each individual to purchase a policy for his/her vehicle. However, you will still be eligible for a discount.

Auto insurance quotes vary from one insurance provider to the next.

Compare quotes from different insurers to get the best multi-car policy rates. Remember that cheap coverage isn’t always necessarily the best. Use our free rate tool to compare top insurers today.

Multi-Vehicle Insurance Policy Requirements

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  • You can qualify for a discount in the middle of your auto insurance coverage if you add another car to your policy. On the other hand, removing the vehicle from the policy to leave a single car ceases the discount immediately.
  • When it comes to multi-vehicle policies, rules vary. Some auto insurers require that the vehicles be owned by the same person or family to get coverage.
  • Some car insurers will restrict the number of vehicles under the policy to three. Exceeding the limit will lead to rejection. Some insurers will, however, allow customers to modify the terms of their policies to accommodate more vehicles.
  • To successfully purchase a multi-vehicle policy for all the cars in your household you’ll need to provide the drivers’ licenses, lienholder along with the VIN for all vehicles and drivers.
  • Finally, to get a multi-vehicle insurance policy, you’ll need to have more than one passenger vehicles in your household.

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How much would you save with cheap multi-car insurance?

This will depend on several factors. The level of discount will vary from carrier to carrier. Some car insurance companies actually prefer this kind of arrangement and would offer higher discounts for the same.

How much money you save will depend on the following factors:

  • How many vehicles you will be insuring
  • The number of drivers you’ll be having under the policy
  • The number, as well as the types of cars insured

How much will additional vehicles add to your policy?

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These types of policies allow drivers to increase the number of cars to a specified maximum. Every car that you add to the policy will raise your premium.

The amount by which your premium rises will depend on several factors such as the type of the vehicle you add. Vehicles with higher safety ratings get cheaper rates and vice versa.

The overall cost of adding a vehicle to multiple car policies is significantly less expensive than purchasing a separate coverage for it, despite the safety ratings or any other factor that affects auto insurance rates.

Insuring Multiple Cars Under One Driver vs. Insuring Multiple Cars Under Different Drivers

If you are looking to insure two cars under the same policy where you will be the only driver, you should expect to get about 50 percent in auto insurance discount compared to getting two separate policies for the vehicles.

Compare quotes from various insurers and note the difference in costs.

When it’s one driver, the risk is greatly reduced since you can’t drive both cars at the same time. However, when insuring multiple drivers, it will be a little more expensive.

If the cars don’t belong to the same person, it may not be possible to cover them under one multi-vehicle policy in some states due to auto insurance laws requiring the car owner and the policyholder to be the same person.

You can still purchase joint car insurance policies to get around this. It will not be as cheap, but you will still get similar discounts.

Whatever the case, you will still get a discount for purchasing multiple policies with the same insurer in different names such as multi-line, multi-policy, or second car discounts.

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Must the coverage be the same on each vehicle?

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It all depends! When it comes to liability coverage and uninsured/underinsured motorist protection or any other state-mandated coverage, state laws and auto insurance providers may require you to have the same level of coverage for your vehicles.

On the other hand, when it comes to optional coverage such as collision and comprehensive coverage, you are free to add them to any particular car.

The auto liability insurance limits are required to be the same to avoid confusion in case you file a claim.

The Advantages of a Multi-Vehicle Policy

  • You get to save on auto insurance due to the available discounts.
  • A multi-vehicle policy ensures that you have one payment and renewal date hence easier to manage.
  • You can stack uninsured/underinsured motorist protection if you have a multiple car policy.

Insuring all your cars under the same multi-vehicle policy is a good way to cut auto insurance costs if you own more than one car. If you have a teenage son/daughter, having their car under your policy would be even better.

Rates will vary across providers. Shop-compare as many quotes as you can by using our free rate tool below.