Is it cheaper to add a second car to insurance? |

Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a hearty understanding of insurance products including home, animation, car, and commercial and working immediately with policy customers to understand their needs. She has since used that cognition in her more than ten years as a writer, largely in the insuranc …

Full Bio →

Written by

Leslie Kasperowicz

Farmers CSR for 4 Years

Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family ’ mho indemnity means, FCI Agency, for 15 years ( BBB A+ ). He is licensed as an agent to write place and casualty policy, including home, car, umbrella, and dwelling fire policy. He ’ sulfur besides been featured on sites like and Safeco. He reviews message, ensuring that antique …
Full Bio →

Reviewed by

Daniel Walker

Licensed Auto Insurance Agent

editorial Guidelines : We are a free on-line resource for anyone concerned in learning more about car policy. Our goal is to be an aim, third-party resource for everything car indemnity related. We update our web site regularly, and all capacity is reviewed by car policy experts .
Things to Remember

  • Most major car indemnity companies offer a multi-car discount rate to policyholders, with savings of up to 25 percentage .
  • A multi-car deduction is a tax write-off from the common cost of your premiums for owning more than one vehicle and insuring at least two of these vehicles with the same insurance company .
  • When you have an existing one-car policy and add a newly acquired vehicle to it, the premiums for each vehicle can go down .

car indemnity is an expending you can ’ metric ton avoid when you own a car. many families have more than one fomite to insure. But is it cheaper to add a second car to indemnity or should you purchase another car policy ? It is constantly cheaper to put all vehicles you own under the same car policy policy .
What is the car indemnity average for monthly costs for a single-vehicle policy ? Most people pay around $ 86 per month ; however, adding a moment vehicle to your preexistent car indemnity policy can provide you with a discount rate of up to 25 percentage .
There are many different discounts that you can qualify for when you buy insurance, but one of the most coarse is the multi-car dismiss. If you and your syndicate own more than one vehicle that ’ mho in the lapp family, you may be eligible for this premium subtraction .
ready to secure an low-cost car insurance policy for your second vehicle ? Simply enter your five-digit ZIP code into our release quote tool above to receive multi-car car insurance rates .

Is it cheaper to put two cars on a single auto insurance policy?

It is about always cheaper to put a second vehicle on a preexistent policy. policy providers want your commercial enterprise. As a honor for being loyal to the company, you ’ ll receive heavily discounted rates .
In the mesa below, see what major providers offer multi-car car policy discounts. If specifics about the savings rate is available, that datum has been included .
Multi-Car Discounts Available by Auto Insurance Company

Companies Multi-Car Discount Offered
21st Century Yes
Allstate No
American Family Yes
Ameriprise Yes
Amica Yes – 15%
Country Financial Yes – 15%
Esurance Yes
Farmers Yes
GEICO Yes – 25%
Liberty Mutual Yes – 10%
MetLife Yes
Nationwide Yes – 20%
Progressive Yes – 10%
Safe Auto Yes – 15%
Safeco Yes – 15%
State Farm Yes – 20%
The General Yes – 15%
The Hanover Yes – 5%
The Hartford Yes – 5%
Travelers Yes – 8%
Get Your Rates Quote Now #blank#

Compare RatesStart Now → As you can see, most major providers will reward you with hefty discounts when you add another vehicle to your existing policy .
In fact, most companies allow you to insure up to five vehicles per policy. The more vehicles listed, the bigger your rebate gets .

Why is it cheaper to insure a second car under a single policy?

There are two major reasons why adding a second cable car to your car policy policy is cheaper than purchasing two distinct policies. The first we already touched upon ; car insurance companies want as much of your clientele as they can get .

To entice consumers to give the company more business, many providers offer multi-car discounts and other savings opportunities. This is the second major cause why insuring two vehicles under one policy is cheaper .

Applying discounts to your policy is contribution of the rating march that personalizes your premiums. When you own more than one car and you add a second vehicle to your policy policy, a multi-car discount rate is much automatically applied .
By giving their clients a discount on an already existing policy, the insurance company can sell you more insurance and you can enjoy the total appliance .

When should I not add a second car to my auto insurance policy?

There are very few reasons why you might choose to not add your second vehicle to your preexistent car insurance policy. In some rare cases, it might be cheaper to insure two vehicles individually .

You can well determine this by comparison shopping for your two unlike vehicles using an on-line comparison creature, like what we feature on this page .

If you ’ re trying to insure a classic or collectible car, you might need to use a specific policy agency to in full protect your vehicle. Some major providers might not offer the right kind of policy protections for this type of vehicle .

Free Auto Insurance Comparison

enter your ZIP code below to view companies that have brassy car indemnity rates .

 Secured with SHA-256 Encryption
Secured with SHA-256 Encryption

How to Add a Second Car to Your Auto Insurance Policy

Adding a vehicle to an existing policy policy is relatively comfortable. Contact your local anesthetic agent and inform them you ’ d like to make the change .

normally, the second vehicle can be easily added at about any time, depending on the provider. Some companies even allow you to add your second fomite wholly on-line .

Be indisputable to have the take after information available when you go to add your second car to your car insurance policy :

  • The vehicle make and mannequin and year
  • The vehicle designation number ( VIN )
  • The license plate total
  • Your current car insurance policy number

What is a policy phone number on car policy ? It is the number often found on your indemnity wag to help identify you and your coverage level .
Before adding a second car to your current policy, consider shopping about and comparing rates from different providers. You might receive more low-cost rates for better coverage.

Does the auto insurance coverage need to be the same on both cars?

normally, you ’ ll be able to choose the coverage level for each vehicle on your policy independently. however, you will be expected to carry your state ’ second minimal legal car indemnity requirements on every car on your policy .
If you are not sure of what your state ’ second minimal car policy requirements are, take a expression at the table below to find out .
Minimum Legal Auto Insurance Requirements by State

State Minimum BI & PD Liability Limits Required Insurance Policies
Alabama 25/50/25 BI + PD Liability
Alaska 50/100/25 BI + PD Liability
Arizona 15/30/10 BI + PD Liability
Arkansas 25/50/25 BI + PD Liability, PIP
California 15/30/5 BI + PD Liability
Colorado 25/50/15 BI + PD Liability
Connecticut 25/50/20 BI + PD Liability, UM, UIM
Delaware 25/50/10 BI + PD Liability, PIP
District of Columbia 25/50/10 BI + PD Liability, UM
Florida 10/20/10 BI + PD Liability, PIP
Georgia 25/50/25 BI + PD Liability
Hawaii 20/40/10 BI + PD Liability, PIP
Idaho 25/50/15 BI + PD Liability
Illinois 25/50/20 BI + PD Liability, UM, UIM
Indiana 25/50/25 BI + PD Liability
Iowa 20/40/15 BI + PD Liability
Kansas 25/50/25 BI + PD Liability, PIP
Kentucky 25/50/25 BI + PD Liability, PIP, UM, UIM
Louisiana 15/30/25 BI + PD Liability
Maine 50/100/25 BI + PD Liability, UM, UIM, Medpay
Maryland 30/60/15 BI + PD Liability, PIP, UM, UIM
Massachusetts 20/40/5 BI + PD Liability, PIP
Michigan 20/40/10 BI + PD Liability, PIP
Minnesota 30/60/10 BI + PD Liability, PIP, UM, UIM
Mississippi 25/50/25 BI + PD Liability
Missouri 25/50/25 BI + PD Liability, UM
Montana 25/50/20 BI + PD Liability
Nebraska 25/50/25 BI + PD Liability, UM, UIM
Nevada 25/50/20 BI + PD Liability
New Hampshire 25/50/25 Financial Responsibility only
New Jersey 15/30/5 BI + PD Liability, PIP, UM, UIM
New Mexico 25/50/10 BI + PD Liability
New York 25/50/10 BI + PD Liability, PIP, UM, UIM
North Carolina 30/60/25 BI + PD Liability, UM, UIM
North Dakota 25/50/25 BI + PD Liability, PIP, UM, UIM
Ohio 25/50/25 BI + PD Liability
Oklahoma 25/50/25 BI + PD Liability
Oregon 25/50/20 BI + PD Liability, PIP, UM, UIM
Pennsylvania 15/30/5 BI + PD Liability, PIP
Rhode Island 25/50/25 BI + PD Liability
South Carolina 25/50/25 BI + PD Liability, UM, UIM
South Dakota 25/50/25 BI + PD Liability, UM, UIM
Tennessee 25/50/15 BI + PD Liability
Texas 30/60/25 BI + PD Liability, PIP
Utah 25/65/15 BI + PD Liability, PIP
Vermont 25/50/10 BI & PD Liab, UM, UIM
Virginia 25/50/20 BI + PD Liability, UM, UIM
Washington 25/50/10 BI + PD Liability
West Virginia 25/50/25 BI + PD Liability, UM, UIM
Wisconsin 25/50/10 BI + PD Liability, UM, Medpay
Wyoming 25/50/20 BI + PD Liability
Get Your Rates Quote Now #blank# #blank#

Compare RatesStart Now → To help you understand what each of the acronym and policy-types mean, we ’ ve besides created a table with common car insurance terms and definitions. Take a look at the details and definitions below .
Common Auto Insurance Terms and Definitions

Abbreviation Meaning Definition
BI Bodily Injury Covers bodily injury damage for the other driver in an accident you are found liable for.
PD Property Damage Liability Covers property damage for the other driver in an accident you are found liable for.
PIP Personal Injury Protection Covers your medical expenses, lost wages, and other damages when involved in an accident.
UM Uninsured Motorist Covers damages to your vehicle if you are hit by a driver without auto insurance.
UIM Underinsured Motorist Covers damages to your vehicle if you are hit by a driver with an insurance policy that does not meet the state’s minimum legal standards.
Get Your Rates Quote Now #blank# #blank#

Compare RatesStart Now → While you must maintain continuous coverage that meets your state of matter ’ randomness minimum standard on all of your cars, you can normally change your flat of collision and comprehensive coverage for each individual vehicle .

For exemplar, if you are financing a vehicle, you might be required by the franchise to purchase comprehensive examination and collision coverage. however, if you have a adolescent who drives an older, easily replaceable car that you own instantaneously, you might consider purchasing a basic liability-only policy .

You can besides personalize each car ’ s coverage further by choosing policy options like wayside aid programs, lease car coverage, and more .

Requirements for the Multi-Car Discount

The multi-car discount is one of the easiest and best discounts for families or individuals who own multiple vehicles. While the eligibility criteria vary from supplier to provider, most companies have similar cover rules .

It is good to know the criteria to be eligible for this discount before you assume that it will be mechanically applied to your policy .

here are the most common carrier requirements :

  • Each vehicle must be primarily garaged in the same family .
  • All vehicles must meet the definition of secret passenger fomite .
  • Each fomite on the policy must have at least liability coverage. If a cable car has only repositing coverage, it won ’ deoxythymidine monophosphate qualify .
  • Two or more vehicles must be insured with the lapp carrier either on a multi-vehicle policy or bundled together on single car policies .
  • Some companies will offer the multi-car discount if you carry motorcycle indemnity with the same carrier .
  • Some insurers require all cars to be in the insured ’ sulfur name and others will apply the discount rate for cars owned by family family members listed on the policy .

If you apply for car indemnity for two or more vehicles from the beginning, the insurance company will mechanically give you a discount at the time of your quotation mark. If you purchase a new fomite and add it to your policy, the discount will be applied to each vehicle to take the rates down .
Discounts are a bang-up way to save money on your car indemnity premiums, and you can stack the savings for evening lower monthly costs .

It ’ mho constantly worth asking about what discounts you and your kin qualify for, even beyond the multi-car savings opportunities .
If for some reason the carrier you do business with doesn’t sell multi-vehicle policies, you may have to give them your other policy number to get your discount on each of your single-car policies.
It ’ south besides authoritative to check every renewal when you have single-vehicle policies so that you can ensure the discounts don ’ thyroxine by chance fall off. This is rare, but it can happen .
As constantly, compare rates from multiple providers to ensure you ’ re getting your best rates on your two-car car policy policy .

How much can you save with a multi-car discount?

Every company has its own alone discounted rates. Some companies are more generous than others when it comes to deducting money for adding a moment cable car .

A few companies do not make the specific savings amounts publicly available. You must qualify for the dismiss to find out what your savings will be .

The typical measure of you ’ ll save with a multi-car rebate is between 2 and 25 percentage for bundling your two car indemnity policies. But the only way to see where you ’ ll save the most money by bundling your car policy is to shop around .
If you ’ re matter to in comparing premiums on your own, use an on-line rate comparison tool and get blink of an eye quotes nowadays. Adjust coverage options and see which carrier offers the best multi-car coverage at the most low-cost price .

Other Factors that Can Affect the Cost of Auto Insurance

Every insurance company determines rates in slenderly different ways. The aim of rate-making in the earth of car policy is to estimate how much the company must charge to cover both losses and expenses .
The crude premium is what an insurance company must charge an policy applicant to cover exposure and expenses while hush allowing for profits .
While each ship’s company sets its own rates, according to the Insurance Information Institute, indemnity premiums are highly regulated through the State Department of Insurance and must be adequately priced, not excessive, and can not be unfairly determined .
Because of this, the final rate that the company decides to charge must be deemed bazaar and reasonable by the state .
indemnity companies don ’ triiodothyronine merely charge you a gross bounty. Auto policy rates are besides all about the perceived gamble of the driver. If you have a distribute of claims and at-fault accidents on your commemorate, you might be placed in a higher-risk class than person with a clean record. This will cause your premiums to be higher than average, flush with a multi-car deduction .
To determine your gamble level, insurance providers consider many unlike variables. These factors include your age, ZIP code, drive record, and coverage level. The make and model of the fomite you drive may besides affect your premiums .
It ’ s most common for companies to use class rate, experience rating, and merit evaluation methods to determine how much to charge you when you ’ re applying for coverage .
Class rating is used when estimating how much to charge in a specific region or for a specific vehicle. This is most normally used for standard car indemnity .
For a class rate to be effective, there must be copious statistics available that aid to identify the probability of a claim .
Merit and experience ratings avail insurance companies dive deeper when determining the allow rate for an applicant .
When using have evaluation, the company looks back on a driver ’ mho personnel casualty history and accident history to see how safely a person drives. Merit rat is used in conjunction with class rate to use personal information to give you premium credits .
To ensure you choose the best provider for you and your family, constantly compare rates from multiple different providers.

You are now an expert on getting brassy rates for your second car ’ s policy policy. By using the like provider for both vehicles, you ’ ll receive discounted rates .
Are you ready to buy multi-car car policy ? Find out which indemnity company will provide you with the most low-cost multi-car car indemnity quotes by entering your five-digit ZIP code into our free quotation tool below .

Leave a Reply

Your email address will not be published. Required fields are marked *