Multi car insurance – is it worth it?

When it comes to insuring your cars, is it worth taking out multi car insurance rather than single policies for each car you own?

You may have heard about multi car insurance from friends, family members or even in commercials, but do you really know what it covers and if it could be beneficial to you?

Follow us, as we delve into the nitty gritty of what multi car insurance is and if it really is worth taking out for multiple cars at your home.

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What is car insurance?

Car insurance is a policy you place on each vehicle you own. You can choose which policy covers you wish to place on your cars, tailoring them to your vehicle needs.

Policies can help with repairs, replacements and can cover the cost of damage to other drivers or someone else’s property, as well as vehicle towing. Essentially, a car insurance policy is a reassurance of a helping hand if ever you need to cover the cost of damage to your vehicle, and protects you financially if you’re liable for someone else’s injuries and medical costs, as well as damage to their property.

What is multi car insurance?

Before we find out whether multi car insurance is worth it, firstly, let’s look into what multi car insurance actually is and what it covers.

Multi car insurance, in simple terms, is an insurance policy that covers two or more cars. Each car within the policy has its own coverage but is under the umbrella of one agreement. Each car can still have its coverage customized to the needs and wants that you desire, tailoring it to you and your car.

How do multi car policies work?

As you’d sign up for a single car policy, a multi car policy is just as easy – the only difference is, you’re adding another car to the policy quote details.

When you’re looking at quotes online with various insurance providers, you’ll need to add all the cars you’re looking to cover within the same policy. The number of vehicles you can cover under one policy may vary from provider to provider, with some capping it to a maximum of four cars.

Another thing you’ll need to consider, if you’re applying for a multi car insurance policy, like with Lemonade Car, is the state you live in, as this may affect your policy.

Customizing your policy

When it comes to your multi car insurance, each car under your policy has its own personalized coverage, allowing you to add more cover to one car than the other, If you wish to. This is to best suit your needs and requirements for each vehicle.

Are there any perks to holding a multi car policy?

Of course, we want to know if it truly is worth putting multiple cars on one policy, rather than having separate policies for each car you own. With this in mind, we’ve found some perks and advantages that come with taking out a multi car policy over single car policy, which include:

• One quote for your entire policy – No need to go through the quote process for each vehicle you wish to cover.
• The same renewal date – You’ll only need to remember one renewal date for all cars you own, rather than multiple renewal dates for multiple cars you own.
• Less paperwork – With fewer policies, comes fewer documents. The fewer documents needed to print, the more paper you save. The more paper you save, the more trees you save, which in turn makes your insurance more environmentally friendly!

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So, is multi car insurance worth it? Only you can decide what is best for you.