Multi-car insurance – how to insure 2 cars and save money

If you have more than one vehicle registered to your home address or you regularly drive more than one car you may be able to save money with a multi-car insurance policy. In this article, we look at multi-car insurance including what it covers and how to buy multi-car insurance. We have partnered with Quotezone* so that you can search and compare quotes from over 120 UK car insurance providers.

What is multi-car insurance?

Multi-car insurance is designed to cover more than one vehicle registered at the same address (although some providers may insure vehicles at different addresses) and could save you money compared to two separate car insurance policies. How many cars can be added to a multi-car insurance policy varies depending on the provider but you will usually be offered a discount for each additional vehicle insured on the policy. With some providers, you may also be able to combine car and home insurance policies for further discounts.

There are two types of multi-car insurance policy; a single multi-car policy (sometimes referred to as a combined multi-car policy) where multiple vehicles are added to the same car insurance policy often with the same level of cover for each car or a linked policy where you have separate car insurance policies and you can have different levels of cover for each car as well as different policy start dates.

As with regular car insurance, you can choose to insure your vehicle fully comprehensive, third party fire and theft or third party cover. We explain how each type works in our article 'What are the different types of car insurance?'

What does multi-car insurance cover?

Multi-car insurance offers the same amount of cover as a separate car insurance policy; the main difference is that more than one vehicle is insured on the policy. There are two main types of multi-car insurance; a single policy and a linked policy. A single multi-car insurance policy insures multiple vehicles and multiple drivers under one policy and the level of cover is usually the same for each vehicle. A linked policy links car insurance policies on different cars often with different levels of cover and even different policy start dates. A linked policy can be good if you want to insure family members with differing levels of driving experience.

As with standard single policy car insurance, you can also enhance your multi-car insurance premium with different levels of cover such as breakdown cover, legal cover, car key cover, and no claims discount protection.

How to buy multi-car insurance

If you want to compare multi-car insurance policies, a quick and easy way is via a comparison site such as Quotezone*. Comparison sites allow you to compare policies from different providers to find a policy to suit your needs. You may not always get the best deal when using a comparison site, however, as they are not always whole of market. Alternatively, you can visit the provider directly and it may also be worth enquiring with your existing home insurance provider to see if you can get a deal by combining your home and car insurance policies.

How much does multi-car insurance cost?

How much you pay for your multi-car insurance policy varies depending on a number of factors including the vehicle you are insuring, the ages of drivers on the policy and the area that you live in. Other factors that can influence the cost of your car insurance can be found in our article, 'How much does car insurance cost?'.

In addition, how many cars you add to the policy can affect the cost of your multi-car insurance policy as some multi-car insurance policies offer discounts for each car you add to the policy meaning the more cars you add to the policy the more discount you may receive.

Multi-car insurance providers

Multi-car insurance policies are not always available with every car insurance provider. In this section, we list some of the providers that offer both multi-car insurance as a single combined policy and as a linked policy. This list is not extensive and you may also be able to get a multi-car policy with other providers.

Admiral

• Multi-car discounts on each car insured
• One renewal date
• Each policy-holder has their own no claims bonus so it won't be affected if another policy-holder makes a claim
• Immediate family members can be added even if they live at different addresses
• Offers Multi Cover where you can get a discount by combining your car, home, van and landlord insurance policies

Read our review of Admiral car insurance.

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AXA

• Save 15% on your car insurance when you insure an additional car
• Separate policy and renewal dates
• All cars need to be registered at the same address
• 90-day European cover

Read our review of AXA car insurance.

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Aviva

• Save 10% for every vehicle added to the policy
• All cars need to be registered at the same address
• Insures vehicles under one single policy
• One renewal date
• Keep separate No Claim Discount

Read our review of Aviva car insurance.

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Churchill

• Insure up to 10 vehicles in your household
• Separate renewal dates
• No Claims Discount is not affected by other vehicle claims
• 24/7 accident recovery helpline for comprehensive policies

Find out more about Churchill's Multi-car insurance.

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Direct Line

• Insure multiple vehicles at the same address
• Multi-car policy discount with each car added
• Different car insurance policies and payment dates
• No Claims Discount not affected by a claim on another vehicle

Read our review of Direct Line car insurance.

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LV=

• Save at least 12.5% on every car added to your policy
• Add up to 6 cars and 12 drivers to one policy (all cars must be registered at the same address)
• Choose different cover levels
• Each driver has their own no-claim discount
• Offers Multi-cover insurance where you can get a discount for combining your car and home insurance

Read our review of LV= car insurance.

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Hastings Direct

• Discount for each car insured
• Insure multiple vehicles at the same address
• Same renewal date
• Each policyholder can build up their no-claims discount
• EU cover up to 90 days per trip away

Find out more about Hastings Direct Multi-car insurance.

Do I need multi-car insurance?

Multi-car insurance may be a good option if you have multiple cars at the same property and you are looking to save money on your car insurance premiums. If you are friends that share the same property or if you are parents whose child has recently gone to university a multi-car insurance policy may also be good for you.

When choosing a multi-car insurance policy you should also check which type of policy the provider offers as some insure cars on the same policy with the same renewal date whereas others link the policies to get multi-car discounts but each policy is different with different renewal dates and cover types.

One thing to consider, however, is that a multi-car insurance policy may not always be the cheapest option so it is better to compare individual policies as well to see if you are saving money.

Pros and cons of multi-car insurance

Pros of multi-car insurance

• Can save money by combining car insurance policies
• Can save time and paperwork by having all drivers insured under one policy
• The renewal dates for every car can be the same, depending on the insurance provider

Cons of multi-car insurance

• Cars may have to be registered at the same address
• May not always be cheaper than individual policies
• You could end up paying more if younger or inexperienced drivers are insured on the policy

How to save money on car insurance

How much you pay for your car insurance policies varies depending on numerous factors including the driver's experience, age, address and the car you drive. Below we share some ways you can save money when taking out a multi-car insurance policy but more information can be found in our article '10 tips to save money on your car insurance'.

• Pay annually - paying your car insurance premium annually can save money as some insurers add a credit charge to policies when you pay your premium monthly. Watch our video for an explanation on why insurance is more expensive if you pay monthly.
• Increase the policy excess - agreeing to pay a higher policy excess can help to reduce your car insurance premiums but this is the amount payable in the event of a claim so don't increase it to an unaffordable amount.
• Shop around - one of the easiest ways to save money is by comparing car insurance prices from multiple providers to find a policy that suits you. A quick way to do this is via a comparison site such as Quotezone*.
• Choose different cover - with a multi-car insurance policy it may be possible to choose different car insurance policies for each car and doing so could help to cut the policy price e.g one car insured fully comprehensive and another as third party.
• Declare accurate mileage - when insuring your vehicles you need to ensure you accurately declare the mileage you drive as lower annual mileage can save you money on your premium. You need to ensure it is correct however as not doing so could mean you invalidate your policy.

 

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