Is it worth getting a multi-car insurance policy? | RateCity

• The policy can be convenient if you have children and want to provide economic support. Car insurance premiums for young adults up to 25 years of age are slightly higher than for those in the 26-69 age range. Young drivers are inexperienced, and insurers tend to feel that this increases the chance of an accident. So it may be preferable to get a family car insurance package. If you have separate cars or vans for work, daily commuting, and recreation, it may be better to arrange the paperwork under multi-vehicle insurance, including car and van.
  
  
• Even if you insure two cars under one policy, each car receives different treatment. Therefore even if one car is involved in an accident, it will not affect the driving record of the other vehicle. If you have no claim bonus for one of the cars, it will remain intact.
  
  
• As it is a single policy, you do not have to remember different renewal dates. You may renew the entire scheme at once. In most cases, you will be able to add more eligible cars up to a limit of five. It’s best to check with multi-policy insurance companies to clarify the details.

Yes, there’s a good chance you can get discounts. Many insurance providers offer discounts when you are insuring more than one vehicle, and you can compare rates before applying. In most cases, you will get a discount of between 5 and 15 per cent, but you may compare before finalising. There are other discounts you can access, so remember to speak to your insurer in detail.

You may be able to take advantage of no-claim bonuses. Suppose you are careful on the road and have a good driving record. You will not need to make claims. That improves your chances of getting higher discount rates. Also, you may get a better discount rate if you take out travel or home insurance with the same insurer. Often insurers hold onto loyal customers with more than one policy by giving them better discount rates. If you renew the same policy for many years or install safety features in your car, you may be eligible for additional discounts.