Multi-car insurance discounts

Save on your car insurance by covering multiple cars with one provider.

Just like getting a discount for bundling your policies together, you can save money by covering all of your family’s vehicles with one insurance provider. If you have more than one driver in your household or more than one car in the driveway, there’s a good chance you qualify.

How do multi-car insurance discounts work?

Multi-car insurance works when you add more than one car to your insurance policy. It can help both you and your insurance provider streamline everything from coverage options to the billing process. And since you’re bringing more business with more coverage, you’ll likely get a discount on your premium.

With a multi-car insurance discount, you’re either insuring multiple cars on one policy or you have multiple cars on separate policies under the same provider.

This kind of discount doesn’t typically compound each time a vehicle is added, but is applied as a flat rate or percentage on each vehicle you add to your policy.

How much can I save with this discount?

How much you’ll save with a multi-car discount ranges from 10% to 25%. It depends some different factors that may or may not affect you — and we’ve outlined some of them below.

• Age. The younger you are, the more you can expect to pay for your vehicle insurance coverage — and the more you can expect to save by bundling vehicles under a single policy. 10% of $2,000 is more than 10% of $1,500, after all.
• Vehicle types. Insuring a Ferrari, a Donzi ski boat and a fleet of snowmobiles is going to cost a fortune whether you bundle them all or not — and if you own any luxury or exotic vehicles, you may not be able to bundle them with other cars or vehicles at all. For example, the majority of standard car insurance companies in the US might refuse to cover a Ferrari altogether, and a white-glove provider like Chubb — they cover classic cars, exotics, and luxury vehicles — may not offer a multi-vehicle policy discount.
• Provider. Most providers offer this kind of discount, but once again, how much of a break you can expect will vary from one company to the next.
• Drivers involved. If you’re the only driver on the policy, your individual records and numbers are all that will factor in. But as soon as you involve a teenage driver, an elderly driver or someone with a poor driving record or other issues in their background, you might see this discount’s benefits vanish with an overall rate increase.

Insurance providers with multi-car discounts

Not all insurance providers offer multi-car discounts — and discounts vary by state. Here’s a list of providers to look into to see if you qualify for a multi-car discount.

• Nationwide. While no discount amount is listed on its website, you can expect savings of at least 10% from Nationwide.
• Allstate. Discounts from Allstate vary by state and by coverage, but you can expect the industry average of 10% to 25% if you qualify.
• Farmers Insurance. Farmers offers a multi-car discount, but it’s unclear how much. It’s likely you’ll save at least 10%.
• Progressive. Progressive offers a discount of about 10% for covering multiple vehicles on one policy.
• Geico. Enjoy generous discounts from Geico and save up to 25% for covering multiple cars.
• USAA. Though no specific discount value is given, you can expect savings of at least 10% from USAA.

Is this discount only for standard vehicles?

No, most providers allow you to bundle and save with motorcycles, boats, RVs, ATVs, even snowmobiles and jet skis.

Contact your provider to find out more about what kinds of vehicles are covered, and how those factors can affect your overall costs.

Can I still get different levels of coverage for separate vehicles?

Yes you can, even if they’re on the same policy. It’s worth noting many providers will require you to maintain the same liability coverage levels on all vehicles under your policy, just so there’s no confusion about which vehicle has which liability coverage.

But for all optional coverage, like comprehensive and collision insurance, you can pick and choose what you add to each vehicle. After all, it makes sense to put collision and comprehensive coverage on your BMW or your spouse’s Mercedes, but why would you pay for that level of coverage on your high school aged child’s $2,000 car that gets them to school and back?

With a multi-vehicle policy, you have options that allow you to cover your different vehicles as needed, whether you’re insuring a boat, an RV, a luxury sedan, or a golf cart. To learn more about the kinds of vehicles your insurer covers, and what your options are for covering those different vehicles, contact your agent or provider.

Bottom line

If your household has multiple vehicles, it’s likely that you can cover all your vehicles and get a multi-car discount with your provider. And while a 10% discount might not sound like a lot, you may qualify for other discounts as well. And that can add up.

Shop around and compare any time you plan to make changes in your car insurance to find the best deals.

Frequently asked questions

• How do I know if my provider offers a multi-car discount?

  The easiest way to find out is to ask, but if you’re using any large car insurance provider, the odds are they do. Most households with multiple vehicles can expect discounts automatically when bringing multiple vehicles under one policy.

• My provider doesn't offer the discount where I live. Now what?

  If your provider doesn’t give the discounts you want, why stick around? Comparing plans and rates is the best way to save money on auto insurance coverage. Take your time and shop around — or see what other discounts they could offer. You might be surprised to find you can save money for being a homeowner, having a teen driver in the house with fantastic grades, working in education or healthcare or having a clean driving record.