If you have more than one vehicle in your household, multi-vehicle insurance could well be the right choice for you. According to a recent study, eight out of 10 UK drivers own at least two cars. Moreover, research from 2020 found that around 8.8 million UK households had two cars, with figures rising. This same number of households could be benefiting from multi-vehicle insurance each year.
If you’re wondering what multi-vehicle insurance is, how it can benefit you and when to consider it, we’ve laid out all you need to know in this guide.
So, what is multi-vehicle insurance?
Multi-vehicle insurance is (exactly) what it says on the tin: it’s a car insurance policy that provides cover for multiple vehicles rather than just one. This policy allows you to insure up to six cars, to be exact.
Under one single policy, you can cover all your vehicles – like cars, vans and motorcycles – meaning you only have one renewal date and set price to worry about each month or year. And although the vehicles all fall under the same policy, they each have their own level of cover.
Multi-vehicle insurance can be tailored to each of your vehicles. Since this policy allows each vehicle to have its own level of coverage, you have the flexibility to decide things like how much excess you’d like to pay on each vehicle. Each vehicle will also have its own no claim discount (NCD), so the NCD on other vehicles won’t be affected if one of your cars is involved in an accident.
If you want multi-vehicle cover for one specific vehicle type, for example, motorbikes only, you can choose a more specific policy like multi bike insurance options to cover all the motorcycles registered to your address.
How it works
Similar to ordinary car insurance policies, multi-vehicle insurance offers protection for you, your vehicles, and other drivers included in the policy. We’ll break down how it works in more detail.
Just like any other car insurance policy, multi-vehicle cover lasts for one year and can be paid in full or spread into monthly instalments across 12 months, if this is an option with your insurer.
Regardless of who a car or vehicle belongs to, any car that is registered to your address can be insured by multi-vehicle cover. Thus, anyone who lives at your address and owns a vehicle registered to your address can be insured on the same policy. If your household has several registered vehicles within its proximity, this cover can be extremely beneficial, less time-consuming, and potentially cheaper than paying for separate insurance policies.
When should I consider a multi-vehicle insurance policy?
When it comes to insuring your beloved automobiles and vehicles, you’re faced with a myriad of options and add-ons – as well as many factors to consider. If your household has more than one vehicle registered to its address, there is no denying that multi-vehicle cover could be the best option for you.
Of course, if you have two cars, having two separate policies might not be too much hassle – but having multiple vehicles to insure and keeping on top of different payments and renewal dates can become very stressful. Multi-car insurance cover allows you to streamline the insurance process and insure all of your cars under one policy with one fixed price and renewal date. Sounds convenient, right?
You should opt for multi-vehicle insurance if you want the most convenient way of insuring multiple vehicles registered to your address. Who wouldn’t love to have their entire household covered under one policy? As well as this, your insurance could end up being cheaper when you choose this cover as opposed to setting up a separate insurance policy for each vehicle registered to your address.
It could be worth comparing the price of insuring all your vehicles individually with the best quote you find to insure all your vehicles under a multi-car insurance policy.
Who is eligible for multi-vehicle insurance?
Anybody who lives in the same household as you is eligible for multi-vehicle insurance coverage – they don’t have to be family. If you live with a friend or partner, multi-vehicle insurance can provide insurance coverage for both of you. This benefits families and couples with more than one car or driver in their household.
Together, you could save money, save time, and enjoy a stress-free approach to insuring your vehicles in one policy. If you’re unsure of your eligibility for this type of insurance policy, check with credible insurers online or look for a quote.