Multiple Car Discounts

Do you own more than one vehicle? Are you planning to purchase a new car in the near future? Would you like to buy your teen a used car, but concerned about the cost of insuring it? If you answered yes to any of the above, this article is for you. Here you will find tips to help you obtain discounts on your car insurance.

Car insurance is a competitive market. Most insurance companies are going to great lengths to obtain and retain your business. They want to reel you in and once they have you, they’d like to keep your business. This is important to know so you can obtain the best car insurance deal possible.

Nearly every car insurance carrier offers multiple car discounts. Believe it or not, in some cases the cost of insuring two cars can be the same price as insuring one. Even stranger, the cost of insuring one car is oftentimes more expensive than covering two cars.

A lot depends on the make and model of the cars being insured. The cost to insure two Ferrari’s or Mercedes Benz will be more than the cost to insure two 20-year old Pintos. If you’re purchasing an older model vehicle as your second car and are able to pay cash for it, chances are you can get by with purchasing liability insurance. This alone can save you hundreds of dollars off your car insurance premium.

However, if you are financing the second car, you will be required to carry full coverage insurance on the car until you have the note paid in full.

The more cars you insure, the bigger your discount will be. Some companies will slash the cost of your car insurance by 25 percent or more when you insure multiple cars. This can add up to significant savings over the course of time.

You can obtain multiple car discounts if you personally own two or more cars. You can also obtain a multiple car discount if you are covered by a family plan that covers you, your spouse, and any children of driving age who reside in your home.

Typically, car insurance companies will only provide coverage to your children until the age of 25. Even if they are still living at home with you, car insurance companies will require anyone over the age of 25 to obtain their own individual policy.

If you are considering obtaining a second car, contact your insurance company and inquire about their multiple car discounts. Also shop around for competitor’s rates to make certain you obtain the best deal possible.

It’s important to remember that the lowest insurance rates are not necessarily the best. Never purchase car insurance from a company who offers ridiculously low rates through an Infomercial. Chances are the company is involved in low-balling; a common practice among insurance companies with shady reputations.

Low-balling means the insurance company will provide you with an exceptionally low rate. After you have signed on with them, they send out a letter claiming they made an internal mistake and inform you that your rates will now be $200 more than originally quoted.

In order to avoid the low-balling scam, always purchase car insurance through a reputable insurance company. Stick with well-known names and companies with solid reputations.