Car insurance for multiple vehicles
Most auto insurance companies allow you to insure multiple vehicles. Auto insurance protects you financially if you’re involved in an accident. If you get in an accident without insurance, you may be liable for costs, including property damages, medical expenses, legal fees, and more. Liability coverage can help cover all or some of these costs.
Having liability insurance can also keep you on the right side of the law and insurers you might want to apply to in the future. A lapse in coverage can occur if you fail to make on-time payments or your insurance company drops you for any reason. You may sometimes be eligible for a grace period if your insurance coverage lapses. Insurance companies are required by law to provide ample notice for you to make a payment before canceling a car insurance policy — typically 10 to 20 days.
You’ll face severe consequences if you’re caught driving without insurance, regardless of the reason. Possible outcomes include:
Impounding of your car
Insurance coverage requirements and registration guidelines vary by state. Contact your state's department of motor vehicles for more information on state minimum auto insurance requirements.
Variations by state
Almost every state requires drivers to have some level of car insurance coverage. Liability insurance isn’t mandatory in New Hampshire, but drivers must pay for any injury or property damage caused by their vehicles. In Virginia, you can opt out of minimum coverage requirements if you pay a $500 uninsured motorist fee each year, but you’ll bear full financial responsibility if you’re at fault in an accident.
Florida only requires liability coverage for property damage but also requires drivers to carry personal injury protection (PIP) coverage.
All U.S. states require vehicles to be registered and titled with the state’s transportation agency or department of motor vehicles. Motor vehicle registration and title fees vary by state.
Check Out: Vehicle Registration Rates by State
Parked car insurance
What if you have a vehicle sitting in storage or don't plan to drive for an extended period? Do you still need car insurance for stored vehicles? Not necessarily, although if you’re leasing or financing the vehicle, some lenders may require you to keep collision and comprehensive coverage as a condition of the auto loan.
One option to consider is parked car insurance, also known as comprehensive-only coverage. Parked car insurance helps pay for vehicle damages due to certain events, like vandalism, theft, fire, hail, or a fallen tree. Getting comprehensive-only coverage for your vehicle can help you save money on a vehicle you aren’t using while still protecting it against damages.