Multi-Car Discount
A multi-car discount is offered by virtually all auto insurance companies. It applies to all coverage on the policy and may save you between 10% and 20% off of your premium. The basic requirement is that there must be more than one vehicle insured on the same policy. Other requirements vary by company and may include:
1. The vehicle is owned by and principally operated by the policyholder or a member of his/her family.
2. The vehicle is garaged (kept) at the same address as the other vehicle.
3. The qualifying vehicle is not a trailer.
There are even some carriers that will give the discount if one vehicle is a home and the other is garaged at college with a child of the policyholder.
As the definition of “family” changes in our society the insurance industry has reacted. It has been seen where companies which previously required ownership of both vehicles by the policyholder abandon this rule and permit a multi-car discount when two adults are living together, both with their own vehicle. In the past, not only would they not get the discount, it was difficult to find a company willing to insure them on the same policy.