key Takeaways
On average, multi-car discounts save drivers 19 % or $ 486 per year when insuring two cars on one policy.
Allstate offers the biggest share multi-car discount rate, but GEICO has the cheapest multi-car rates overall .
Insuring multiple vehicles on the same policy can allow you to stack coverages and discounts. It may besides allow you to have one deductible. Loading …
The Cheapest Car Insurance Companies for Two Cars and Two Drivers
In a family with two cars and two drivers, you may find that the cheap car policy company offers the biggest multiple car deduction. To get the best savings, comparison car policy quotes for two cars and two drivers on one policy. MoneyGeek found that the two publicly available indemnity companies with the cheapest rates for multi-car indemnity are :
- GEICO: $1,789 per month
- Allstate: $1,940 per month
While Allstate offers the most considerable discount for multi-car policies at 22 %, GEICO has slightly lower rates overall. At $ 1,349, USAA actually has a lower multi-car rate than both of these providers. however, policies from this supplier are only available to current and former military members and their families.
The Cheapest Multi-Car Insurance Quotes – Annual
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- company cost of Multi-Car Insurance cost of Insuring Two Cars individually discount rate
- USAA
$1,349
$1,524
-12%
- GEICO
$1,789
$2,174
-18%
- Allstate
$1,940
$2,500
-22%
- State Farm
$2,007
$2,414
-17%
- Nationwide
$2,103
$2,541
-17%
- Travelers
$2,270
$2,871
-21%
- Progressive
$2,288
$2,925
-22%
Read more: The Best Car Insurance Companies for 2022
- MetLife
$2,439
$3,055
-20%
- Farmers
$2,704
$3,314
-18%
These rates are averages for a marital couple with two identical Toyota Camrys, so the bum car indemnity company for you may be unlike. The sample distribution premiums are not official multiple car discounts advertised by the insurance company and may differ from what is offered.
The Best Car Insurance Company for Multiple Cars
even if an insurance party offers the lowest price, that doesn ’ thyroxine constantly mean they are the best. The best policy companies have high customer service scores and superior fiscal constancy with low-cost rates. however, in this shell, the companies with the two-lowest rates are besides MoneyGeek ’ s exceed picks for best multi-car policies. MoneyGeek recommends GEICO and Allstate as the best car policy companies for two or more cars and drivers. These companies offer the lowest rates for multi-car policies along with full-bodied discounts .
GEICO GEICO offers 16 discounts, including the multi-car discount, which is the second-highest number of discounts for a car indemnity company, as reviewed by MoneyGeek. With some of the cheapest rates, superior fiscal force and decent satisfaction ratings, GEICO is a competitive company for drivers with two or more cars .
Allstate Including the discount for insuring multiple cars, Allstate has 14 dismiss offerings. Like GEICO, Allstate has superior fiscal intensity to pay claims with average rankings for customer atonement. Allstate has a wide scope of policy offerings, so you may be able to save even more by bundling your indemnity products.
Why You Should Insure Multiple Cars on One Policy
There are a few reasons why insuring multiple cars with the same indemnity company on one policy is a full theme .
- Savings Potential: Adding a second car to an existing insurance policy is cheaper than getting two individual car insurance policies. The average savings of a multi-car policy is about $500 per year.
- Convenience: Handling all insurance issues with the same company is more straightforward than dealing with multiple companies.
- Single Claims Deductible: Some insurance companies offer one claims deductible for multiple cars. In this case, if you damage both vehicles on the policy, you’ll only pay one deductible to fix both.
- Stacking Coverages: You may be able to stack coverages, which combine coverage limits for multiple cars on the same policy, offering increased protection if you are involved in an accident.
MONEYGEEK EXPERT TIP You can tailor policy coverage per vehicle, even when you ’ re insured with the same party. Unless you have two identical cars, you may not need the same coverages for both. A cheaper car may only require liability indemnity, while full coverage might be a better choice for an expensive cable car.
The Best Way to Get Accurate Multi-Car Insurance Quotes
Though getting multi-car indemnity quotes is alike to getting a quote for precisely one car, there are some key differences. Gather the needed information before getting quotes, so you ’ re fix to compare prices with multiple insurance companies. 1
Gather Information
With two or more drivers, you ’ ll need personal information for both, including full names, garaging addresses of the cars, driver ’ sulfur license numbers, dates of birth and marital statuses. necessary information for both vehicles includes the VIN, current mileage and trim package. 2
Decide Your Coverages
Your coverage needs may vary with each car insured. Determine what coverages are necessity before moving onto the next step. MoneyGeek recommends purchasing more than your submit minimum liability policy to protect your finances in the event of an at-fault accident. 3
Get Quotes
Whether you gather quotes online or through an agent, get at least three from different policy companies. Use the lapp coverage limits with all companies, even if you choose different coverages for each cable car. 4
Compare Quotes
After getting your quotes, compare them to see which is the best. Review price, coverage and dismiss offerings, fiscal stability and customer reviews to help make your decisiveness. 5
Purchase a Policy
once you ’ ve determined the best policy company, it ’ mho clock to purchase a multi-car indemnity policy. Your policy company can walk you through the steps of buying cable car indemnity on-line after you receive a quote. If you ’ ra working with an agent, they can help you finalize your purchase. Loading …
When You Shouldn’t Insure Multiple Cars Under the Same Policy
There are some cases where it may not want to insure two or more cars on one policy. For example, it may be cheaper to get a second base indemnity policy for your car if you live with person with a bad drive record. Owning a classical car or other forte fomite may require a separate policy, specially if you want alone coverage offered by these insurers. To know if you are getting the best share in these situations, consider getting quotes for multi-car and person policies to see which is the best option.
Methodology
MoneyGeek car indemnity prices are based on data and information provided by state departments of indemnity and Quadrant Information Services. We calculated our multi-car discounts by finding the difference in price for a 40-year-old marry couple insuring two Toyota Camrys on the same policy versus the same couple insuring the like cars on policies. Our driver profile is for person with a clean drive record and a policy with liability limits of 100/300/100 and $ 1,000 deductibles for comprehensive and collision indemnity. About the writer
Mandy Sleight is a professional freelance writer and licensed indemnity agent. She has her property, casualty, life sentence, and health licenses and has been working in the industry since 2005. Mandy has worked for well-known policy companies like State Farm and Nationwide Insurance, and most recently as the Operations Coordinator for a start-up employee benefits company. Mandy earned her bachelor of Science degree in Business Administration and Management from the University of Baltimore and her Master in Business Administration from Southern New Hampshire University. She uses her huge cognition of the indemnity industry and personal finance combined with her writing setting to create easy-to-understand and engaging content to help readers make bright choices with their budget and finances.
Read more: The Best Car Insurance Companies for 2022