Do you own two or more cars in your family? Do you own a fleet of cars as per your business requirements? If yes, this article is for you. Here, we are going to talk about multi-car insurance and why it can help you. Insurance is very important, as it provides you enough coverage for losses that you may have to face during unfortunate incidents. When you have the option of paying for a single policy, why should you pay more for individual car insurance policies? This is what we are going to discuss here:
Multi-Car Insurance – Meaning
A multi-car insurance is a single policy that provides insurance for many cars. The best thing about this policy is that it costs you less than what you have to pay for individual policies, as the insurance company provides you with a discount on the same. For example, if you have three cars, you can take one single multi-car insurance policy than three separate policies for increased cost savings and ease of operation.
Benefits of multi-car insurance policy
- Ease of operation
When you take an insurance policy, you will have to fill out a form and submit a lot of documents about your, to the insurance company. You also need to renew the premiums at a particular time every year, so that you are fully covered always. In the case of individual car policies, you need to fill up quite a few forms, submit multiple sets of documents and remember the renewal dates of each policy. This is where a multi-car insurance policy can be a huge blessing for you. It eases up the entire insurance process for you. In this policy, the paperwork involved is very minimal, and there is only the renewal date that you need to keep track of.
- Cost savings
An insurance company provides a reasonable discount on the premiums of a multi-car insurance than individual car insurance policies. The insurance company stands to gain considerably when you register many cars with them as part of the same policy. Therefore, most of the service providers do not hesitate to transfer a share of their profits to their customers, in the name of discounted premiums. There is only rule that you have to fulfill when you opt for this policy – all the cars should be registered at the same address.
- More discounts with every car that you add
If you are a big family or a big business that owns many cars, you can get the most from your multi-car insurance policy. As you keep adding more cars, you will get good discounts as the insurance company is more than happy to provide coverage for a large fleet of cars. Irrespective of whether you have multiple drivers or you have a single driver for all the cars, you are eligible for attractive discounts from the company as part of the loyalty that you show to the company.
Talk to your insurance service provider right now and understand the terms and benefits of a multi-car insurance policy, before you get one for yourself. You will be pleasantly surprised at the cost savings that the policy offers you.