3+ years producing insurance and personal finance content
Main architect of the Insurify Quality Score
Courtney’s deep personal finance knowledge extends beyond insurance to credit cards, consumer lending, and banking. She thrives on creating actionable content.
5+ years in insurance and personal finance content
Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.
Mark FriedlanderDirector, Corporate Communications
Corporate communications director for Insurance Information Institute
20+ years in insurance and communications
As Director, Corporate Communications for Triple-I, Mark serves as the non-profit’s national spokesperson, sharing information and education on a wide array of insurance issues.
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If you need to insure more than one vehicle, a multi-car policy is likely the cheapest way to do so. Luckily, most car insurance companies offer multi-car policies and provide a discounted rate on them of up to 38%, according to Insurify research.
Here’s how to find the best multi-car policy for you.
Quick Facts
The average cost for a two-car liability policy is $188 per month.
COUNTRY Financial is the cheapest insurer for two-car policies, at an average of $72 per month.
The best way to find a cheap multi-car policy is by comparing insurance quotes online.
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How multi-vehicle car insurance policies work
Multi-car policies work just like single-car policies: You decide on coverage types and coverage limits for the cars you want to insure. Then, your insurance company will cover damages and injuries for claims for all cars you insure with the policy, up to the policy limits.
To get a quote, you just need to provide:
The makes and models of each car on your policy and possibly their vehicle identification numbers (VINs)
The types of coverage and coverage limits you need
Information for each driver on your policy, including driver’s license numbers and dates of birth
To qualify for a multi-car policy, your cars need to be registered to the same address and may need to belong to the same person, depending on the insurer. Insurers may limit the maximum number of vehicles allowed on a single policy — usually five or fewer. You can insure each of these vehicles at different comprehensive and collision coverage levels, too, but liability limits are usually the same across all vehicles.
Disclaimer: Table data sourced from real-time quotes from Insurify's 50-plus partner insurance providers and quote estimates from Quadrant Information Services. Actual quotes may vary based on the policy buyer's unique driver profile.
The national average cost for liability insurance for a two-car policy is $188 per month, according to Insurify’s proprietary data. But the exact rate you’ll pay depends on a number of factors, including:[1]
Where you live: Areas with heavy traffic typically have higher insurance rates.
The cars you drive: Newer or more expensive cars usually cost more to insure.
Your coverage limits: The higher your coverage limits, the more you’ll pay.
The number of drivers on your policy: The more people you insure, the more expensive your policy.
Driving history: Drivers with clean driving records typically pay less than people with at-fault accidents, speeding tickets, or DUIs.
Your credit score: Drivers with good credit usually pay less than drivers with bad credit.
Multi-car insurance discounts by company
The easiest way to save money while insuring more than one vehicle is by using a multi-car or multi-vehicle discount. Keep in mind that some companies don’t offer a multi-car discount, so review the policies of various insurance companies before purchasing a policy.
In the table below, you’ll find discounts for purchasing a multi-vehicle policy from various top insurance companies.
Remember that you’ll also have access to discounts beyond the multi-car discount. You should try to get all the discounts you’re entitled to — the more discounts you get, the less you’ll pay for coverage. Here are a few to look out for:
Multi-policy (bundling)
If you purchase another policy — like homeowners, renters, umbrella, or life insurance — with your auto insurance, your insurer will likely apply a discount for both.
Good driver
Drivers with no at-fault accidents or moving violations in the past three to five years typically get a good driver discount to lower their premiums.
Defensive driving course
Some insurers apply discounts for drivers who complete an approved driver education course.
New car
Not many insurers offer discounts for people who drive new cars, but you may be eligible for a new-car discount if you’re the vehicle’s first owner and it’s a newer model year. The requirements vary by insurer, so it’s a good idea to call an agent and ask about the details.
Car safety features
If your vehicle has standard safety features, like anti-lock brakes, airbags, and daytime running lights, you could qualify for a discount.
Students
Many insurers offer students and young drivers a discount on their car insurance policy if they earn good grades and submit their transcript to the company. College students may also be eligible for a student-away-at-school discount if they attend a college that's a certain number of miles away from home.
Anti-theft devices
Car-theft deterrents include automatic-locking doors, steering wheel locks, brake locks, and after-market kill switches. These types of devices for your car can reduce your insurance premiums.[2]
Military, employer, or affiliation
If you’re in the military, work as a teacher, or are an alumnus of eligible universities, you may be able to get car insurance discounts with certain insurers.
Benefits of insuring multiple vehicles on one policy
When you have several cars to insure, it’s almost always worth buying a multi-car policy. They usually offer the lowest cost while also making it easier for you to manage your policy.
One payment: Multi-car insurance allows you to manage all your different policies in just one place, simplifying the process.
Shared deductible: If more than one of your cars is damaged in a single accident, you’ll only have to pay one deductible, saving you time and money.
Insurance stacking: Some states allow drivers to stack uninsured and underinsured motorist coverage limits in the event of a claim. If you have uninsured motorist limits of $50,000 per person and $150,000 per accident on two vehicles, you can stack those limits to double the amounts to $100,000 per person and $300,000 per accident.
Significant discount: Multi-car discounts are one of the best car insurance discounts available, with some companies providing up to 38% off your total policy cost. Some companies might call this discount a loyalty discount.
When you shouldn’t insure multiple vehicles on one policy
While taking advantage of a multi-car policy almost always saves you money over time, it may not make sense for every household to insure multiple vehicles on one policy. Here’s when you may consider insuring your vehicles under different policies:
You have a classic or vintage car. If one of your cars is a hot rod, antique, or classic vehicle, you may need a completely separate policy to insure it. Classic-car coverage may have different requirements, such as for storage, how often you can drive it, and an agreed-upon value that your current insurance company can’t meet.[3] You may want to buy an auto policy from a company that specializes in insuring classic cars in this case.
Someone in your household has a poor driving record. Insurance companies consider the vehicle’s primary driver’s record when setting premiums. If another driver in your household has a poor driving record, their past mistakes on the road can increase your rates. In this case, you can purchase two separate auto policies to keep your rates low.
Your child doesn’t live with you anymore. You typically have to register cars at the same address to insure them under the same policy. When your child is at school, they can stay on your auto policy as long as their primary address is your address. However, after graduation and moving into their own place, your child needs their own auto insurance policy.
Multi-car insurance coverage types
When you buy multi-car insurance, you can customize coverages for each car on the policy. Here are the coverage options auto insurers typically offer:
Liability
This covers damages and injuries you cause to other parties in an accident, up to the policy limits. Most states require every driver to purchase liability insurance to legally drive.
Comprehensive
Usually part of a full-coverage policy, comprehensive insurance provides coverage for vehicle damages in non-collision events. This coverage includes damages from severe weather, falling objects, theft, and vandalism.
Collision
While liability insurance covers damages and injuries to other parties in an accident you cause, collision covers your own vehicle’s damages from an accident, no matter who caused it. This also includes single-car accidents and hitting stationary objects, such as a tree, fence, or light pole. Collision also covers rollover accidents.
Uninsured/underinsured motorist
Some states require this coverage, and it kicks in when someone without insurance — or without enough insurance to pay for damages and injuries — causes an accident. UM/UIM coverage can also pay in case of a hit-and-run, or pedestrian accidents.
Personal injury protection (PIP)
Also a requirement in no-fault states, PIP provides coverage for your passengers’ injuries and lost wages after an accident, regardless of who caused it.
Medical payments (MedPay)
Another insurance requirement in some states, MedPay is similar to PIP in that it provides coverage for your and your passengers’ injuries after an accident, even if you caused it.
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Car insurance for multiple vehicles FAQs
If you’re shopping for a multi-vehicle insurance policy, this additional information may help as you’re researching different companies.
How many cars can you cover on one auto insurance policy?
Most auto insurance companies have a limit of five cars per policy, meaning you can insure up to five vehicles on a single multi-car policy. However, every insurance company has its own rules and policies. Some allow more vehicles per policy, and some allow fewer.
What’s the best car insurance company for insuring multiple vehicles?
The best car insurance company for insuring multiple vehicles depends on several factors. Where you live, the cars you’re insuring, your driving history, your budget, and your personal preferences all help determine which company is the best fit. Always consider the quality of the company before deciding to buy a policy, not just the cost.
Can vehicles have different insurance coverage options?
Not if they’re on the same policy. Generally, liability and other state-mandated coverages have to be the same across all vehicles on one policy. However, you can have different comprehensive and collision coverage options for the different vehicles on your policy.
Is it cheaper to insure multiple cars?
In most cases, yes. It’s often cheaper to insure multiple vehicles under one policy, since many insurance companies offer a multi-car discount. For example, the average cost of liability-only insurance in the U.S. is $170 a month, so insuring two cars with separate policies at this rate would be $340 a month, or $4,080 a year. But with a 25% multi-car discount, the rate for insuring two cars drops to $255 a month, or $3,060 a year.
Courtney Mikulski is a Senior Editor at Insurify with more than three years editing and producing personal finance content. She's experienced with insurance, credit cards, consumer lending, and banking products. Courtney works to provide easy-to-understand and actionable advice to readers looking for their next insurance provider. Her previous work with Bankrate, Reviews.com, and The Simple Dollar, helped readers make smarter financial decisions. When Courtney isn't working, you can find her hanging out with her cat or on a bike ride with her husband. She earned a bachelor's degree in journalism at Ohio University in Athens, Ohio.
5+ years in insurance and personal finance content
Ashley is a seasoned personal finance editor who’s produced a variety of digital content, including insurance, credit cards, mortgages, and consumer lending products.
Mark FriedlanderDirector, Corporate Communications
Corporate communications director for Insurance Information Institute
20+ years in insurance and communications
As Director, Corporate Communications for Triple-I, Mark serves as the non-profit’s national spokesperson, sharing information and education on a wide array of insurance issues.
