How Much You Can Save With Multi-Car Auto Insurance

The amount you'll save when buying a multicar insurance policy varies by company. When rates from the top car insurance companies were compared, the best discount came from Geico. They offer savings of up to 25% for insuring multiple vehicles with them. But you should get several quotes, as a multicar discount is only one way of getting the best price on your car insurance.

Which car insurance companies have the biggest multicar discounts?

Most major insurance companies offer a discount when you insure multiple cars. Some companies listed the specific percentage you'd receive, while others simply stated that a discount exists.

Of the companies that gave a percentage, Geico had the best savings: Drivers can save up to 25% by insuring multiple vehicles through the company. State Farm also had a big multicar discount of up to 20%.

Company		Discount
	Geico	Up to 25%
	State Farm	Up to 20%
	Progressive	12%
	Travelers	Up to 8%

Allstate, Farmers, Liberty Mutual, Nationwide and USAA also offer multicar discounts but don't specify how much.

Additionally, you should take these percentages with a grain of salt, because the available discounts aren't necessarily starting from the same base price.

A multicar discount isn't the only way to get a cheaper car insurance policy. You may be eligible for other discounts, such as for good driving or customer loyalty, that might make one company a better deal than another. The only way to be sure you're getting the cheapest price is to collect quotes from several insurance companies and purchase the one with the lowest overall cost.

Other benefits of a multicar insurance policy

Another benefit of a multicar insurance policy is the ability to stack insurance coverages. For states where it's available, stacking coverage allows you to take advantage of the total amount of your coverage at any time.

Which coverages can be stacked varies by state, but the most common options are UIM and personal injury protection (PIP).

Having a multicar policy also streamlines the process of paying for your insurance. You only have to make one recurring payment and track one policy renewal date. This benefit doesn't save you money, but it can save you time and effort.

How does a multicar insurance policy work?

A multicar insurance policy works similarly to a policy covering only one car. When filling out the quote form, you'll provide information about the cars you own and who drives them. Some car insurance companies ask who the primary driver is for each car or which vehicle is the primary one for each driver — or both. Car insurance companies will automatically apply any multi-vehicle discount to your quote.

Some coverages are shared by all drivers on a policy, while others apply only to one vehicle. For example, liability coverage is shared by all vehicles (and all drivers) on your policy. Meanwhile, comprehensive and collision coverages can be set differently for every vehicle. This way, you can fully protect your brand-new Acura without paying extra for coverage on your teen driver's 15-year-old Toyota Camry.

Who can I put on a multicar insurance policy?

You can share a multicar insurance policy with anyone who lives with you. This includes your spouse, children, other family members and even roommates. It's a good idea to list on your policy anyone who lives with you and may occasionally drive your car. If your roommate crashes your car and isn't listed on your policy, you probably won't be able to make an insurance claim to cover the damage.

How to get the cheapest multicar insurance quotes

If you want to get multicar insurance as quickly as possible, call your insurance agent or go online to add your new vehicle to your policy. It'll only take a few minutes. However, buying a new car is an excellent time to shop around for quotes from multiple insurance companies, because they constantly change how they evaluate rates. So your current company may not offer the lowest price now that you have multiple cars.

Car insurance companies have worked to make getting online quotes easier, especially for multiple vehicles. But the process still involves a lot of repetitive data entry. You can speed up the process by collecting the following information ahead of time:

Information to have ready when getting quotes for a multicar insurance policy

You can save even more time with longer numbers like VINs and driver's license numbers by recording them digitally and pasting them into the appropriate fields, rather than typing them out each time.

How many cars can I insure on one policy?

Every insurance company that was checked for quotes allows you to insure multiple vehicles, but not every company will allow the same number of cars on an online quote. Geico lets you add the most cars (nine) of any major insurance company, but every company allows you to have at least four cars on your policy.

If you need to insure 10 or more vehicles, you may be able to add more cars to your policy by working with an agent directly or buying a commercial car insurance policy.