Cheapest Multi-Car Insurance Companies – A multi-car insurance policy can be a cost-effective and appropriate way to cover multiple cars. By bundling several vehicles into one policy, you can often get significant savings through discounts offered by insurers. Typically, you can add about three (3) to five (5) vehicles in a multi-car package, making it a smart choice for households with multiple cars to insure.
Farmers provides a distinguished multi-car discount, but GEICO often emerges as the most budget-friendly choice for many. However, to find the best-personalized savings, it is important to compare quotes from numerous providers.
What Are Multi-Car Insurance Policies?
Multi-car insurance policies can simplify the process of paying your premiums by letting you make a single payment rather than managing multiple payments and due dates. However, it is important to know that adding a high-risk driver to your policy could increase your overall premium. In addition, it can be challenging to determine the precise discount offered by each provider for insuring multiple vehicles.
To find the best rates, it is always a good idea to compare car insurance quotes from different providers and ask your insurance agent a lot of questions.
Multi-Car Insurance Coverage Types
Multi-car insurance policies work correspondingly to policies for single cars. However, there is a difference in how coverage types are shared among the vehicles on a multi-car plan. The table below shows what standard car insurance covers:
| Covers you and your passengers? | Covers your car? | Covers other drivers and their property and passengers? | Required? | |
| Collision Insurance | No | Yes | No | Not by law, but usually by most leaders |
| Uninsured Motorist Coverage | Yes | Yes | No | In 19 states and Washington, D.C. |
| Medical Payments Coverage | Yes | No | No | In Maine only |
| Liability insurance | No | No | Yes | All states except for Virginia and New Hampshire |
| Comprehensive Insurance | No | Yes | No | Not by law, but usually by most leaders |
| Personal Injury Protection | Yes | No | No | In 12 no-fault states, with Oregon and Delaware |
Bodily injury liability insurance, medical payment protection (MedPay), property damage liability coverage, and uninsured motorist coverage are shared. On the other hand, collision coverage and comprehensive coverage can be applied separately to get the most affordable multi-car insurance policy. This flexibility is an excellent feature if you need to insure both a new car and a higher-mileage vehicle that you do not want to protect with full coverage.
The Cheapest Multi-Car Insurance Companies
If you are a driver who is looking for car insurance discounts for multiple vehicles, we recommend considering providers like Erie Insurance, Country Financial, USAA, Geico, and Nationwide. These companies provide some of the most affordable policy rates for both full- and minimum-coverage car insurance. Moreover, they provide various discounts, including savings for insuring multiple vehicles.
Please note that the rates mentioned below are for a married driver who is 35 years old, has a clean driving record, and has good credit. If you have a good driving record, you may get even lower rates. It is essential to remember that discount rates differ by insurance company and policy. Therefore, it is advisable to request multi-vehicle discounts when getting quotes from the top-rated car insurance companies that are mentioned below.
- Erie Insurance
- Nationwide
- USAA
- Country Financial
- Geico
Erie Insurance
Erie Insurance provides some of the lowest minimum coverage rates of about $390 per year or $33 per month, making it a cost-effective choice for drivers in 12 states and Washington, D.C. While the company’s service area is limited, it has high customer satisfaction scores, excellent industry ratings, and nine discount opportunities, including a multi-vehicle discount.
Nationwide
Nationwide provides two usage-based insurance programs, along with 10 other discount opportunities, including a multi-car discount. The company also offers additional benefits and coverage, like accident forgiveness and vanishing deductibles. With low average full-coverage rates of about $1,433 per year or $119 per month, Nationwide is an excellent choice for drivers in 47 states.
USAA
USAA is known for offering low rates to military members and their families across the country. The company’s minimum-coverage rates are competitive, but its full-coverage rates of about $1,512 per year or $126 per month may not be the best choice for drivers seeking that level of coverage. However, well-qualified clients can take advantage of the company’s multi-car discount and the 13 other discount options.
Country Financial
Country Financial provides affordable monthly car insurance payments for a lot of different driver profiles, particularly high-risk drivers. The company’s average minimum coverage price of about $356 per year or $30 per month makes it an excellent budget-friendly option. Country Financial also provides 13 available discounts, including a multi-car discount. Presently operating in 19 states, the company offers insurance products like usage-based insurance, comprehensive and collision coverage, and a lot more.
Geico
Geico is a reputable insurance company that provides minimum coverage in all 50 states at an affordable rate of about $461 per year or $38 per month on average. The company has excellent ratings in the industry and offers an easy-to-use mobile app for its clients. In addition, they provide 16 different discounts, including multi-car and usage-based insurance discounts.
Final Thought
In conclusion, if you are looking for the cheapest multi-car insurance, you will need to do some comparison shopping. Not all insurance providers offer the same discounts for covering multiple vehicles, so it is important to ask a lot of questions before making a purchase.
