How to Insure Multiple Cars on a Single Policy

At Esurance, we make it a breeze to insure more than one car on the same policy. In fact, we often reward you for it. We'll explain the Multi-Car discount, which is available in most states, and detail how additional cars can impact your car insurance policy.

how multiple cars can alter your insurance rates

As an Esurance customer, you can add up to 4 cars and trucks on a single policy. Specific makes and models can increase your policy rate to varying extents, although the increase is sometimes small.

Some cars are considered safe, but their post-accident repairs may be relatively expensive. Hybrid models can fall into this category because of the complex and specific parts required to make their engines operate.

Since each car is different, the only ways to gauge how your rides will affect your rate are to check with your insurer or get a new quote.

Vehicle safety discounts

One way to help offset rate increases — other than sticking to Top Safety Picks — is to drive cars that are loaded with safety features. Insurers love safety features — so antilock brakes, anti-theft devices, and daytime running lights are a few features that could score you a safety device discount. Check with your insurer to see if your cars help you qualify.

Multi-Car discount

We know shelling out big bucks for the newest and safest car isn't always an option. With the Multi-Car discount from Esurance, the more cars you're looking to insure, the more you'll be able to save.

If the discount is available in your state, we'll automatically add it to your policy when you add multiple vehicles. Simple as that.

your coverage options when you insure multiple cars

As a general rule, you want the most coverage you can comfortably afford in case the unexpected happens. Whenever you add a car or truck to your policy, take a look at your current coverage selections to see if they need updating.

Adding comprehensive and collision coverage

The value of the cars you insure will affect these coverages, which protect your vehicle or replace it in the event of a serious accident.

With any car, there's some risk for a fender bender, water damage, a major accident, or theft or vandalism. Comprehensive and collision coverages offer financial protection from these incidents (and others, like animal-related collisions). They're typically optional unless a loan or finance company requires them.

Each coverage can pay up to the actual cash value of your car, minus the deductible you select. So if you add a $60,000 car to your policy, comprehensive and collision coverage can cost more than they would for a $6,000 car.

Find out more about comprehensive and collision coverage.

Adding uninsured/underinsured motorist property damage coverage
These coverages are designed to help pay for repairs after you're hit by an at-fault driver who lacks the liability coverage necessary to cover repair costs. A 2012 report from the Insurance Research Council estimated that 12.6 percent of U.S. drivers were uninsured, making this coverage that much more valuable.

Find out more about uninsured/underinsured motorist coverage.

Liability coverage

Liability can help pay for post-accident expenses for others after you're found at fault in a crash. Depending on the vehicles you're adding, consider whether your liability limits are where you want them. Some cars and trucks can cause more damage in an accident than others.

Find out more about liability coverages.

Adding alternate coverages

You may be interested in customizing your coverages even further for certain cars. If you have a teen driver, for instance, emergency road service (ERS) could provide added support in case your child gets stranded. And if you've tricked out one of your cars with gadgets and add-ons, you might want to get customized parts and equipment coverage.

Additional coverage options vary by state. You can see what's available in your neck of the woods in our state car insurance pages.

Coverage stacking

In some states, you may have the option of increasing your level of protection through stacking. What is stacking? Essentially, it lets you boost your coverage amounts based on how many cars you're insuring.

For example, say you had limits of $50,000/$100,000 on your uninsured motorist protection. If you added a second car to that coverage, you might be able to double that to $100,000/$200,000.

This varies by state, so if you're interested in stacking, check with your insurer to see if it's a possibility.

start your multi-car insurance quote

Now that you know how to tailor your policy after adding new cars (and some of the benefits of doing so), there's no reason to wait. Find out what your new and improved policy will cost by getting your free, personalized quote.

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Source: http://docphy.com/business-industry/personal-finance/insurance/insure-multiple-cars-single-policy.html