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Geico, Allstate, and Liberty Mutual offer the best multi-vehicle car insurance discounts with up to 25% savings.
These companies excel in pricing and policy flexibility, making them stand out as the the cheapest car insurance for multiple vehicles.
| Company | Rank | A.M. Best | Multi-Vehicle Discount | Max Cars per Policy |
|---|---|---|---|---|
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#1 | A++ | 25% | 9 Cars |
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#2 | A+ | 25% | 4 Cars |
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#3 | A | 25% | 4 Cars |
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#4 | A++ | 20% | 4 Cars |
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#5 | A+ | 20% | 4 Cars |
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#6 | A | 20% | 4 Cars |
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#7 | A | 20% | 5 Cars |
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#8 | A+ | 12% | 8 Cars |
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#9 | A++ | 10% | 6 Cars |
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#10 | A++ | 8% | 4 Cars |
These three companies would allow a family to save money without losing too much quality, and Geico can provide the best rates for good coverage and discounts.
What You Should Know
- Geico, Allstate, and Liberty Mutual offer up to 25% off for multi-car policies
- Multi-vehicle discounts cater to households with more than one car
- These providers combine great rates with comprehensive coverage
Get the first start to get lower rates on car insurance. Enter your ZIP code to find out how much you might save.
Understanding Multi-Vehicle Car Insurance Rates & Savings
For families that own multiple vehicles, multi-vehicle car insurance is an easy, cost-effective solution to cover multiple cars under one policy and reduce your total insurance cost. The table shows the monthly insurance rates for various top companies before and after multi-vehicle discounts.
| Insurance Company | Before Discount | After Discount |
|---|---|---|
|
$218 | $196 |
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$199 | $125 |
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$181 | $159 |
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$173 | $122 |
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$230 | $205 |
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$222 | $200 |
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$173 | $151 |
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$246 | $134 |
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$151 | $107 |
|
$155 | $109 |
Geico reduces multi-vehicle auto insurance rates by $50 a month with this discount, while Allstate and Liberty Mutual save drivers around $25 monthly. State Farm provides the most significant discount, slashing monthly rates by $112.
This chart shows monthly multi-vehicle car insurance rates from top providers, categorized by driving records such as one ticket, one accident, and one DUI. It highlights how car insurance companies for high-risk drivers adjust rates based on your driving history.
Prices vary from $84 to $248 per month, highlighting how driving history impacts rates and why comparing the best insurance for multiple cars is key to saving with a bundled policy.
Multi-Vehicle Rates & Top Company Comparisons
This table shows the average monthly cost of full coverage car insurance based on the number of vehicles included in a single policy. Insuring one vehicle costs $158 per month, while two vehicles cost $317 and three vehicles cost $467 monthly.
| Number of Vehicles | Monthly Cost |
|---|---|
| One Vehicle | $158 |
| Two Vehicles | $317 |
| Three Vehicles | $467 |
Multi-car insurance for five cars can significantly reduce per vehicle costs, as bundling under one full coverage policy offers noticeable savings and makes it a smart and cost effective choice for families insuring multiple vehicles.
Top car insurance companies offer a wide range of monthly rates depending on whether you choose minimum or full coverage. USAA provides the most affordable options, with minimum coverage at just $100 and full coverage at $333 per month.
| Insurance Company | Minimum Coverage | Full Coverage |
|---|---|---|
|
$150 | $500 |
|
$133 | $458 |
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$158 | $517 |
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$117 | $400 |
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$167 | $542 |
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$125 | $383 |
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$142 | $417 |
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$133 | $433 |
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$142 | $450 |
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$100 | $333 |
Geico and Nationwide also offer competitive full coverage rates at $400 and $383 respectively, making them strong choices for budget-conscious drivers.
On the higher end, Liberty Mutual charges $542 for full coverage, followed by Farmers at $517 and Allstate at $500. These rate differences highlight the importance of comparing providers to find the best value for your coverage needs.
Requirements for Securing Multi-Vehicle Car Insurance Discounts
To qualify for multi-vehicles discounts, you will need to insure at least more than one vehicle under the same policy. The vehicles must be insured in the same policyholder name to qualify for the discount.
Be sure you meet these conditions to maximize your savings on multi-car policies, though, and always compare offers to see whose offer is best. Insurers differ in their approaches to multi-vehicle discounts, and having a less-than-perfect driving record may still allow a driver to qualify for a discount.
To effectively reduce the cost of car insurance, review your insurance policy and discuss options with your insurer. Discover more hacks to save money on your car insurance rates in our helpful guide.
Benefits of Multi-Vehicle Car Insurance Policies
Multi-vehicle policies are intended to cater for families with more than one vehicle and any number of drivers from huge savings on your policy to easier management of your policy.
Read on for five benefits of multi car insurance policies:
- Cost Savings: You may receive considerable savings with multi-car insurance, with the rate dropping to 25% on premiums when insuring several vehicles simultaneously.
- Simplified Management: Switching to managing just one policy for multiple vehicles reduces paperwork and allows for easier renewal.
- Unified Renewal Dates: Each vehicle on a policy will share a standard renewal date, facilitating easier management of policy renewals.
- Flexibility in Coverage: These policies allow customization of coverage levels for different vehicles, such as choosing comprehensive for newer models and liability for older ones.
- Loyalty Rewards: Renewing your multi-car insurance policy with the same provider can lower insurance deductibles and enhance coverage.
Consider these potential advantages to decide if this cost saving solution fits your household and budget. A multi-car discount with State Farm can offer some of the most significant savings when insuring multiple vehicles.
Other Ways to Save on Multi-Vehicle Car Insurance
Multi-car discounts aren’t the only way you can cut insurance costs if you own more than one vehicle. Here are a few practical tips to help you save:
- Good Driving Record: If you have never had accidents on your record, you will pay less for insurance because it is certain that insurers reward drivers with no or few mishaps.
- Continuous Coverage: Keep up coverage on a regular basis. Many insurers offer lower rates for continuous coverage, seeing it as an indication of responsible behavior.
- Accident Forgiveness: Some insurance companies have accident forgiveness programs where your insurance rates will not be raised after your first at-fault accident.
- Defensive Driving Courses: Taking a state-approved defensive driving course can get you a discount on multi-vehicle auto insurance.
- Vehicle Safety Features: Discount for insuring vehicles with features like anti-lock brakes, airbags, and electronic stability control.
If you all have vehicles to insure, the AAA multiple-vehicle discount or multiple-car discount with Progressive can lower your insurance costs while ensuring that each car is properly insured.
These strategies make it easier to manage policies and could be streamlined in such a way as to help save money on full coverage for multiple vehicles.
Discounts From The Top Multi-Vehicle Car Insurance Companies
Top providers like Geico, Allstate, and Liberty Mutual offer the best multi-vehicle car insurance discounts with up to 25% savings.
These discounts simplify policy management and reduce premiums for those insuring multiple vehicles with comprehensive insurance policies. It's an efficient way to lower insurance costs without losing coverage.
Enter your ZIP code in our free comparison tool to see how much you’ll pay for car insurance.
Frequently Asked Questions
What is the cheapest way to insure multiple vehicles?
The cheapest way to insure multiple vehicles is by bundling them under one multi-car policy, which often includes discounts unavailable on individual policies. Additionally, online comparison tools to compare quotes can help secure the most affordable rates.
Is it cheaper to have two separate car insurance policies or one multi-car policy?
Due to insurer discounts, one multi-car policy is typically cheaper than two separate policies. However, it's crucial to compare both options, as costs can vary based on individual circumstances and insurer offerings.
Use our free comparison tool and enter your ZIP code to find out how much car insurance costs in your area.
How does multi-car insurance work?
Multi-car insurance lets you insure multiple vehicles under one policy, simplifying management and often lowering premiums. Insurers discount each additional vehicle, making it a top way customers save on car insurance rates.
Can I get a multiple policy discount if the policies are in different names but within the same household?
Some insurers offer multiple policy discounts even if the policies are under different names within the same household, as long as the individuals are related or have significant connections, like roommates or partners.
What is the maximum discount on car insurance available for multi-vehicle policies?
The maximum discount available for multi-vehicle car insurance policies can reach up to 25%, depending on the insurer and the specific conditions of the policy.
Which insurance company offers the most discounts for multi-vehicle policies?
Geico, Allstate, and Liberty Mutual offer the most comprehensive discounts for multi-car policies among providers, which are tailored to various customer needs (Read More: Allstate vs. Liberty Mutual Car Insurance.
When would a multi-car insurance policy not make sense?
A multi-car insurance policy may not be ideal for vehicles needing different coverage, like classic cars, or if driver risk profiles vary greatly, making separate policies more cost-effective.
Which companies offer the best multi-car discounts?
Top carriers like Geico, Allstate, and Liberty Mutual offer huge multi-car insurance discounts. Each is known for competitive prices and extensive coverage options, with both known as well-rounded multi-vehicle household players.
What are the benefits of a multi-car insurance policy?
The main benefits of a multi-car insurance policy include cost savings through discounts, including different car makes and model insurance rates, and streamlined policy management with unified renewal dates. This approach simplifies budgeting and reduces administrative tasks.
What are discount rates in insurance, and how do they apply to multi-vehicle policies?
Insurance discount rates refer to the percentage reduction applied to your premium based on qualifying factors such as multiple vehicles insured, safe driving records, or policy bundling. These rates significantly lower the cost for policyholders with various cars.
What age has the lowest premium rate for vehicle insurance, and how does this affect multi-vehicle discounts?
Generally, drivers aged 25 to 60 often receive the lowest premium rates due to their experience and lower risk profile. Including such drivers in a multi-vehicle policy can reduce premiums through age-related discounts.
Is it expensive to insure multiple cars under a single policy?
Best car insurance companies that can insure six vehicles to a household in one policy offer savings by covering multiple cars under one policy rather than separate ones. This method is more cost-effective due to multi-vehicle discounts, ideal for families or households with several vehicles.
How much is car insurance for two cars per month?
On average, insuring two cars under one full coverage policy costs around $317 per month.
What is the best bundle insurance company for combining home and auto policies?
Liberty Mutual has a strong reputation for bundling home and auto policies, offering customers significant discounts and integrated coverage for customers insuring more than one asset.
How many cars can you have on a multi-car policy?
The number of cars covered under a multi-car policy can vary by insurer, typically up to five vehicles. Check with your provider to understand their limits and confirm when your insurance policy will cover your insurance claim.
Is car insurance cheaper if you have multiple cars?
Yes, most insurers offer multi-vehicle discounts that lower the per-car rate when you insure multiple cars under one policy.
Where can I find cheap multi-car insurance?
To find the cheapest multi-car insurance, get quotes from different insurers and use online tools to see side-by-side coverage and rate comparisons. Explore your car insurance options by entering your ZIP code and finding which companies have the lowest rates.
How much is car insurance for three cars per month?
The average monthly cost to insure three vehicles with full coverage is about $467 when bundled on one policy. For more insights on saving and coverage options, explore A practical guide for understanding car insurance to make smarter policy decisions.