Is it cheaper to have 3 cars on insurance?

A multi-car discount generally reduces liability, collision and comprehensive coverage costs by 10 to 25 percent, according to CarInsurance, com. When you take out car insurance for multiple vehicles, many insurance companies will allow you to bundle them into a single policy for a discounted rate. You can also combine three or more drivers, although families with just two drivers can still qualify for a three-car discount. It may be cheaper to insure three cars in a single policy, as many insurance companies offer discounts for this situation.

While including more cars in a policy may increase overall rates, it can be cheaper than taking out separate policies for all three cars. A multi-car insurance policy is any policy that covers more than one vehicle. It can mean cheaper car insurance because of the multi-car discounts offered by insurance companies when you insure more than one vehicle with the same policy. Insurance companies consider teen drivers to be at greater risk, and this is understandable given that teen drivers are three times more likely to be involved in a fatal car accident than adult drivers.

Strategies you can apply to get cheap car insurance include choosing lower levels of coverage or limited coverage limits, opting for a higher deductible, and combining car insurance with homeowners or renters coverage. Cheaper car insurance companies offer discounts for multiple vehicles, and it's more convenient to have a premium and a payment date. With an overall rating of 9.1, Progressive is the choice of many car owners because it often has some of the best prices for high-risk drivers. Having three cars to insure, driven by three different drivers, allows you to combine them all into a single policy with most insurance companies.

Car insurance rates can vary from company to company, so even if the multi-car discount is a smaller amount, the overall rate might be better. Be sure to compare the online quotes of several car insurance providers to determine which ones might offer you the best rates to cover more than one vehicle. As always, comparing auto insurance quotes from various providers and asking your insurance agent lots of questions are smart strategies for finding the best rates. Major auto insurance providers have their own specialized, branded telematics insurance programs that often come in the form of apps.

Car insurance companies offer different rates depending on several factors, such as your credit history and driving habits. You can also find other discounts on auto insurance that could exceed the benefits of the multi-car coverage option offered by a given insurer.

Kara Munsell
Kara Munsell

Infuriatingly humble coffee buff. Passionate burrito junkie. Unapologetic social media ninja. Avid music geek. Passionate bacon ninja. Subtly charming tv trailblazer.

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