Quite a few motorists keep more than one car. Some people have a few of them. People may think that adding another automobile onto an existing policy will double the premiums. However, this is not what happens in most cases. You may save as much as thirty percent on insurance costs of the second car added.
By adding the second automobile you are letting the company know that you have one more car to drive around. This will spread the risks between two cars and reduce the premium. By the way, you can only drive one of them at a time. Just knowing that you may be driving one or the other will be enough to offer you savings on the overall costs.
Also, you are offering one more business to your current insurer. It counts for something as well. Companies offer discounts even when you bring your home insurance over to them.
Do you have to own all the vehicles in the policy?
Most automobile insurance providers will be happy to add your partner’s and blood relatives’ autos onto the policy as long as they live in the same address. Also, you may be able to add RVs as well with some companies and still get sizeable discounts.
When you are bringing all your family automobiles under one policy you should look into which way would be best overall. First of all, you may need to give up one company and move all to the other one. This will give you more options and opportunity to pick between two good providers you have had experience dealing with. The other point to consider is who is going to be the lead driver on the policy. Sometimes, having the female partner as the lead driver and the male partner as the listed driver can save money.
Another important point to keep in mind is that you do not have to have exactly the same coverage for both vehicles insured. One can have full coverage and you can only have liabilities on an older one in the policy. Cover variation is possible and better to think that way. You still buy what you want for each of them and save money as well.
There may be other ways of saving money on auto insurance as well. Agents and brokers will be able to explain the options available. For example, you could stack your Uninsured driver coverage. When you have two cars you may not need to sets of coverage for the same risk. Instead you can increase the coverage and set it up in a way that it will cover both of your cars. This option may not be available everywhere and with every company.
However, you will be able to lower your rates and still get the level of coverage you need for each automobile. It is always a good idea to explore your options especially when you need to control your budget. Getting several auto insurance quotes and comparing them is another way of economizing a few hundred dollars.