Multi-Car Insurance: Help A Reporter Out (HARO)

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Brenda Robinson
Brenda Robinson
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June 23, 2022

1:53 am


Reporter: Brian O’Connell
Spokesperson/Interviewee: Josh Damico, VP of Insurance Operations at Jerry
Deadline: 5:00 PM EST – June 1, 2022

Please explain multi-car insurance policies? What are they and how do they work?

A multi-car insurance policy includes multiple vehicles at the same address on the same policy. It often brings significant savings and is beneficial for a few different reasons. When you insure more than one vehicle on the same policy, you may qualify for savings that can add up to thousands of dollars depending on how many vehicles you insure and who drives them. In some states, you also have the ability to stack your uninsured/underinsured motorist coverage, meaning you can combine your limits for use on a single claim. Additionally, some insurers may also offer a single combined liability limit for all vehicles on the policy instead of individual liability limits.

Different insurers have different requirements to qualify for a multi-car insurance policy and associated discounts. All cars on a multi-car policy must have the same bodily injury liability, property damage liability and uninsured motorist coverage limits. However, you can have different coverage limits when it comes to collision and comprehensive insurance. This may make sense if one of your cars is older and you’d like to have different comprehensive or collision deductibles for each vehicle.

Though the rules vary depending on the insurer you choose, companies typically allow you to insure up to four or five vehicles on a single policy. If the family members living in your household have different insurance policies, insuring all vehicles under one policy can be a great way to save money.

  • To get the best price and the right coverage, ask your potential insurance provider about your requirements. Here is a list of questions you can ask them:

  • Does the coverage need to be the same on each vehicle?
  • How much coverage should I carry based on my state minimums?
  • Can I add other family members’ cars to my policy?
  • Can I insure a car and a motorcycle on the same policy?
  • Can I still get a home and auto insurance bundle discount?
  • Can you have two car insurance policies?

What are the key insurance issues and challenges for vehicle owners with more than one vehicle – and why?

If you have separate auto insurance policies for each vehicle you own, you may have to deal with multiple companies and multiple insurance agents for your coverage. This leads to paying more than one premium, dealing with multiple sets of paperwork, and having to renew your policies for each vehicle separately. All of these issues can be time-consuming and tedious to complete or remember.

On the other hand, you likely won’t be able to carry different liability limits on multi-car policies. For example, if you prefer to carry a lower liability limit on one vehicle and higher on another, a multi-car policy usually doesn’t allow you to customize liability coverage.

What are your best tips for multi-car owners looking for the best multi-car policy?

Comparing multi-car insurance quotes from various insurance providers is the best way to make sure that you’re getting the best rate. ​​The biggest mistake is not shopping around, whether that’s for multi-car policies or individual coverage. By assuming the company they’re currently with will offer the best deal because of loyalty, you’re likely to be missing out on significant savings.

If you do decide to shop around, the easiest way to do this is through a free service like Jerry, which automatically shops and finds the best policy at the lowest rate. And if Jerry finds a coverage option you like, the company can handle all the paperwork to switch and help cancel your old policy for you.

Posted in Car & Automotive, Help A Reporter Out, Interviews, Public Relations
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