Some level of car insurance is mandatory in most states, and with good reason. In case you cause or are in an accident, car insurance can prevent you from having to pay costly out-of-pocket fees, as well as potential legal expenses to the other driver’s personal injury lawyer. While the benefits of an auto insurance policy are quite clear, having multiple cars and/or drivers in one household can cause monthly premiums to rise exponentially. Consider the following when shopping for insurance for multiple cars in your household.
Does your current carrier offer a multi-car discount?
If you already have one car insured with a particular carrier, ask if the carrier offers a multi-car discount. Many do and will work with you to plan out your payments.
Have you shopped around recently?
When you own one or more new vehicles, it is a good time to do some comparison shopping, even if your current carrier offers a multi-car discount. It is possible that another carrier will offer you better rates, and some will even offer incentives or additional discounts for switching from your current carrier.
Are there any teens in your household?
New teen drivers are notoriously expensive to insure, because they are statistically deemed to be high risk drivers Many carriers will offer discounts to teens that earn grades of B or higher, so you may want to use improved grades as an incentive before buying your teen his or her own car. Also, when purchasing a car for teenagers, don’t let them talk you into a flashy, new sports car. Stick with something simple that has an excellent safety rating. Finally, it is often less expensive to add your teen to your policy, rather than purchasing a separate one for him or her.
Have you taken a defensive driving course?
All drivers in your household should take a defensive driving course. Many can be completed online at your own leisure. If you do a course you’ll be able to prevent personal injury and costly damage repairs by preventing accidents altogether. Carriers typically offer a 10% discount for successfully completing a defensive driving course.
Do you own any older or classic vehicles?
If so, there are carriers who specialize in classic cars and offer substantially less expensive rates if these vehicles are kept in a garage and only driven occasionally. If your older car does not qualify as a classic, you may want to consider eliminating any comprehensive or collision coverage, as this type of insurance may end up costing you more than the actual value of your car.
Have you asked your carrier about other discounts?
Many carriers offer discounts for married couples, drivers who have never been in an accident, members of the military, etc., but you have to ask for them. Talk to an agent to see what you or your family members may qualify for. Just asking can get you a lot of help and let your insurance know what you’re looking for.
Owning multiple vehicles does not have to turn into an expensive endeavor. You simply need to do a little research and crunch some numbers to find the best deal.
“Brooke Chaplan is a freelance writer and blogger. She lives and works out of her home in Los Lunas, New Mexico. She loves the outdoors and spends most her time hiking, biking and gardening. For more information contact Brooke via Twitter @BrookeChaplan.”