What exactly is multi car insurance? This is an insurance policy that is bought for a certain number of cars owned by a family and who lives in the same residence. Unless they reside at the same address, the policy cannot be valid. Insurance companies have their own offerings for this kind of insurance and some of them will cover up to a number of five cars of a family living together.
Insurance companies will also offer you discounts for a multi car insurance, as you are giving them business in bulk. However, it must be noted that multi car insurance may not be the cheapest policy that you are buying. It is therefore imperative to shop for quotes just like you would if you were going to get a single car policy. Unless you shop for quotes, you will never know whether you are saving or losing on the chosen policy.
Apart from this, you need to consider various other aspects of multi car insurance before you decide that the policy is right for you. There are certain limitations to a multi car insurance and therefore you must look through the policy details very thoroughly so that you do not have to regret your decision later. When you take this policy, make absolutely sure who is going to be driving which car, as all drivers cannot drive all the cars and neither can they interchange. If they do drive all cars at different times, the final policy cost will differ and this will cost you much more in premiums. Also keep in mind that if one of the drivers wants to change their vehicle, he/she must immediately inform the insurance company.
Other facts that need to be cleared are that if any of the drivers has a claim against them, then only they should be affected by it, not all the other drivers being covered under the policy. See that all renewal dates do not coincide because when you pay for it in an annual payment, it is going to cost you a lot of money. If you can afford it, well, but if you cannot then break it into installments would be wiser although you would be paying more when compared too annually. Do not forget to ask your insurers for discounts, as several car insurance companies will offer them to you.