If you have a family or you belong to a group, it is quite normal to have more than one car. In that case, most people opt for multi-car insurance which is a great option. It offers insurance up to five cars. As far as the benefits are concerned, multi-car insurance policies offer the same benefits as do single car insurance policies.

However, it becomes quite convenient to deal with an insurance plan which entertains multi-cars. Instead of having to deal with multiple cars separately, you can simply get one plan for all cars which makes it easy to handle the policy. The only requirement for getting a multi-car insurance policy is that all vehicles must be registered at the same address. There is a lot more you must know if you are planning to get a multi-car insurance plan. Here we go:

Cost Effective

You can save a lot of money by getting multi-car insurance. This makes multi-car insurance desirable; as getting an insurance plan for multi-cars offer great discount on the premium. Also, if you insure a number of cars, the chances are that the discount offered to you on premium can be increased. So, the more, the merrier. With multi-car insurance, you can save up to 20% on premium payment.

Ease of Insurance

Imagine you have more than one car and then you have to rush to the insurer, again and again, to get all cars insured. Doesn’t it sound like a bit of a hassle; to go through the whole procedure from the start? Instead, you can get multi-cars insured under the same policy. This will save you from putting in extra effort and resources. With separate car insurance, you will have to carry out all the paperwork and formalities from scratch. We know that you don’t like the sound of it.

One Renewal Date

With multi-car insurance, the bright side is: there is one renewal date for all car insurances. This way, you get to pay the premium on one day instead of having to go again and again. However, on the flip side of the coin, we see that paying a premium for all cars on one date might be a bit of a shock for your pocket. If you have separate car insurances for multiple cars, you can spread out the payment for different policies, so that car insurance doesn’t come as a financial shock.

High-Risk Drivers

High-risk drivers are those who have a record of getting into accidents. If you have someone, in your family or group, who is a high-risk driver; the chances are that the premium for all cars will be raised. This is the biggest baggage of multi-car insurance. One bad driver affects the cost of the whole insurance policy. Also, some companies have a policy not to cover high-risk drivers.

Discount variation

Different insurance companies have different policies. If you are getting a multi-car insurance for less number of cars, say two cars; it is highly likely that you won’t be offered that much great of a discount. In that case, you should consider getting car insurance policies for both cars separately.