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Lower Your Insurance Rates By Insuring Multiple Cars
Author David Schneider | May 23,2007
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Is there anyone out there who doesn't like a deal? Of course not! Americans are always suckers for finding the very best price available on any and all kinds of items. This desire to always maximize every penny is no more relevant than in the often turbulent world of car insurance. With so many insurance companies out there all clamoring for your business, who can blame you for going the extra mile when it comes to saving a little of your hard-earned cash? Many people have discovered one way of achieving this goal in terms of their monthly auto rates: insuring multiple cars with the same insurer.
Yes, this is a tactic that has enjoyed a massive boost in popularity over the course of recent years. And yet, millions of your fellow citizens are not aware of how much money they could save by taking advantage of this simple yet effective strategy. So for their sake - and perhaps yours as well - let's take a look at how insuring multiple cars can have a positive net effect on your bank balance.
The math on this one isn't all that hard to calculate, so don't get intimidated. Bottom line: in many instances it is possible to insure two vehicles for the price of one. That's right, a savings of exactly 100 percent. While not every multiple car discount will be so generous, with a little detective work you can find an insurer willing to strike such a deal.
Now, bear in mind that there are quite a few factors to consider. Fist, what are the conditions of the vehicles you want to insure? Second, what are the conditions of the driving records for you and the other people you want included on the policy? For the sake of simplicity, let's assume that both cars are in good shape with all relevant safety features intact. Furthermore, we will assume that the drivers involved have clean records.
While not all insurers will offer a two-for-one discount even in the best of situations, you will still be able to grab substantial savings on the second car insured (say upwards of 80 percent or so.) Even better, some companies will even allow you to insure up to four vehicles on a single policy. Not only can this save you a lot of money in the long run, but it can really simplify the loathsome process of paying your premiums every month.
In most cases, multi-car insurance discounts are intended to make it easier for couples or families to spend a little less on their coverage. Let's say you have a policy that also includes your husband and his separate vehicle. If he should get a speeding ticket, there's no doubt that your total monthly premium will increase. However, your premium will still be lower than if your your husband was operating with his own individual coverage. So it's pretty clear that the multi-car discount is one car insurance option that is destined to pay off for those who take the time to look into it. |
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