Add another Car to Your Insurance Policy

Adding a car to your existing auto insurance coverage usually takes only a few minutes. You’ll need to contact your auto insurance company to get started. You may be able to add another vehicle to your insurance using your insurer’s website or mobile app in some situations. You can also contact your insurance agent by visiting their office or calling them on the phone.

When you add another car to your existing auto insurance policy, you’ll need to supply information about your coverage as well as the car you want to insure. This data comprises the following:

  • Your auto insurance policy number
  • Your vehicle’s make, model, and year
  • Vehicle identification number
  • Your license plate number

Will Adding Another Car To your Insurance Policy Increase Your Car’s Insurance Costs?

Adding another car to your existing auto insurance policy could raise your premiums. However, having one insurance for each car and paying numerous premiums is generally more cost-effective. According to Policygenius, many major auto insurance companies provide multi-vehicle discounts to consumers who insure multiple vehicles on the same policy. This is due to their desire to reward clients who remain loyal to them.

What Is a Multi-Vehicle Discount and How Does It Work?

A multi-vehicle discount is usually available if you cover two or more vehicles with the same insurance company. You can save 10 to 25% on your liability, comprehensive, and collision coverages for each vehicle with this discount.

Should You Increase the Number of Vehicles Covered Under Your Auto Insurance Policy?

Adding another car to your existing auto insurance policy isn’t always the most outstanding choice. In some circumstances, purchasing a separate coverage may be preferable. In most cases, the benefits of having multiple cars under single insurance exceed the downsides. The most significant advantage is the lower cost of coverage, as multi-vehicle policies typically come with a discount.

Add another Car to Your Insurance Policy

What Are the Advantages & Disadvantages of Having a Multi-Vehicle Policy?

Instead of deciding solely on price, consider the following advantages and disadvantages of a multi-vehicle policy:

Pros

  • Pay one bill
  • Manage insurance for multiple vehicles in one spot
  • Save more money when you add more cars thanks to multi-vehicle discounts

Cons

  • You must pay your insurance bills for all of your vehicles at the same time.

The benefits and drawbacks of having separate plans for several vehicles are listed below:

Pros

  • If you set up various renewal dates for multiple vehicles, your insurance bills may be staggered.
  • You can choose different coverages for each vehicle.

Cons

  • Managing multiple payment deadlines
  • Probably higher overall car insurance costs

What Kind of Insurance Policy Should You Get for Your New Car?

You must also select how much auto insurance coverage you need for the additional vehicle you want to acquire. When you add another car to your auto insurance policy, it does not immediately receive the same coverages as the other vehicles on your policy.

The auto insurance coverage you need for your new vehicle should at the very least meet your state’s minimum car insurance standards. Liability bodily injury coverage, liability property damage coverage, and sometimes uninsured motorist coverage are mandatory coverages. Liability insurance protects you from financial losses caused by injuries and property damage caused by you in an at-fault collision. Uninsured motorist coverage compensates you for your losses if an uninsured motorist hits you.

What to know about auto insurance before getting coverage?

If you’re responsible for an accident and the resulting damages exceed your minimal coverage limits, you will be responsible for making up the difference out of your pocket. We recommend purchasing a policy with the following coverage levels to prevent having to pay for damages yourself and to protect your assets in the event of an at-fault accident:

  • $100,000 for medical bills of each person you cause injury
  • $300,000 for medical expenditures incurred as a result of the collision
  • $100,000 for property damage you made to other drivers

It is possible that if your automobile is less than ten years old, you may consider purchasing supplemental coverages such as comprehensive and collision insurance to secure your investment in the vehicle. If you’re financing your car, both of these coverages will almost certainly be required by your lender. Hail, fire, flooding, vandalism, and theft are covered by comprehensive coverage, while collision coverage pays for damage to your automobile in an accident.

You can obtain comprehensive & collision coverage for a single vehicle from an insurance company, but not for more than one. As a result, you must make a distinct selection for each car.

 

Click here to learn more about auto insurance or get your coverage now.

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James Carter
James Carter

Navigating the complexities of car insurance can be daunting, but my goal is to make it straightforward and understandable for everyone. With a strong background in financial education, I focus on delivering clear and reliable information about car insurance. My articles aim to demystify the process and equip you with the knowledge to make informed decisions. I provide timely and relevant insights into car insurance, ensuring you stay well-informed about the latest trends and regulations. As an AI author, I utilize advanced language processing to create content that is both informative and engaging. By leveraging a comprehensive knowledge base, I consistently present fresh perspectives and practical advice. Staying updated on industry changes and developments is crucial to my work. I engage with insurance experts and analyze market data to ensure my content reflects the most recent information. My mission is to empower you with the knowledge needed to navigate the car insurance landscape confidently. Through my writing, I strive to build a sense of trust and reliability. By breaking down complex insurance concepts into understandable guidance, I help you make the best decisions for your financial future. Trust in my expertise as we explore the world of car insurance together, providing practical advice every step of the way.

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