Yes it is possible to use one auto insurance policy to cover more than one car. The answer is a multi-car insurance policy plan.
Multi-car insurance policies provide the same auto insurance coverage options as individual auto insurance policies, including liability, collision, and comprehensive coverage. However, the premium and coverage limits may vary depending on the number of cars insured and the driving history of the drivers listed on the policy.
It is a cost effective option for families with more than one vehicle as these multi-car policies offer a discount on overall premium. Many insurance companies offer multi-car policies that can cover all the vehicles owned by a single family or household.
Tips to finding the best multi-car insurance for you
- You will have to compare the services and quotes from several insurance providing companies to be able to determine the best coverage to suit all your car needs.
- Consider factors such as the deductible, coverage limits, and customer service when selecting an insurance provider.
- It is important to ensure that all of the vehicles covered under the policy are properly listed and insured.
- Consider the different needs and risks associated with each vehicle and to make sure that the policy provides adequate coverage for each vehicle.
It’s also important to note that the cost of a multi-car policy will depend on factors such as the type of coverage needed, the make and model of the vehicles, and the driving record of the drivers listed on the policy.
Steps to follow to cancel your multi-car auto insurance policy
- Review your policy: Check the terms of your auto insurance policy to see if there are any cancellation fees or penalties. You may want to wait until the end of the policy period to avoid any fees.
- Contact your insurance provider: Call your insurance company or agent to let them know that you want to cancel your policy. Be sure to have your policy number and personal information on hand.
- Provide the reason for cancellation: The insurance provider may ask for the reason why you are canceling your policy, so be prepared to explain your decision.
- Provide any necessary documentation: If the insurance provider requires any documentation to cancel your policy, such as a signed cancellation request, be sure to provide it.
- Confirm cancellation: Ask the insurance provider to confirm the date your policy will be canceled, and make a note of it. Be sure to confirm that any automatic payments are canceled, and return any insurance cards or documents.
- Obtain new coverage: If you still need insurance coverage, be sure to obtain a new policy before canceling your current one to avoid any gaps in coverage.
It’s important to note that canceling your auto insurance policy may result in higher premiums if you need to obtain insurance coverage again in the future. If you are considering canceling your policy due to high premiums, you may want to consider shopping around and comparing quotes from other insurance providers before making a final decision.
Companies that offer multi-car insurance policies
There are a good number of companies that offer multi-car insurance policies to individuals and families and they include:
- Admiral: Admiral is a UK-based insurance company that offers multi-car insurance policies. With Admiral’s multi-car policy, you can insure up to five cars on one policy and receive a discount for each car added.
- Geico: Geico is an American insurance company that also offers multi-car insurance policies. Geico’s policy allows you to insure up to four cars on one policy and can save you up to 25% on your premiums.
- State Farm: State Farm is another American insurance company that offers multi-car insurance policies. With State Farm’s policy, you can insure up to two cars on one policy and receive a discount for each car added.
- Direct Line: Direct Line is a UK-based insurance company that offers multi-car insurance policies. With Direct Line’s policy, you can insure up to 10 cars on one policy and receive a discount for each car added.
Other companies that offer suitable multi-car policies are Progressive, Allstate, Nationwide, Esurance, Farmers Insurance, Liberty Mutual, The Hartford, Travelers Insurance etc.