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What’s the Cheapest Way to Insure a Second Car?

If you have multiple people in your household or at least multiple cars, you can save money on your automobile insurance policy. Adding additional vehicles to your plan with the same company is one way to score less expensive rates, but there are other things to consider as well. Whether your teenager is just starting to drive and getting their own vehicle, you have just gotten married, or you have moved back in with family members if you need to insure a second car here are some tips.

A Multi-Car Insurance Policy is Typically Cheaper than Separate Policies

In the United States, many households have more than one vehicle. If you are one of these households, it is generally cheaper to get insurance for all of your cars under a single policy, rather than multiple policies. All automobile insurance companies offer multicar insurance policies. By letting customers bundle their cars together and save money, the insurance company gets more business. They want more business, so they offer you incentives. This is one of many discounts that car insurance providers offer their customers to entice them to purchase a policy.

Company 6-Month Premium
State Farm $1,966
Allstate $1,137
Progressive $746
Liberty Mutual $879

Multi-Car Policies Aren’t Always Cheaper

There are situations when a multicar policy is not the best option. If one driver on the plan has multiple at-fault accidents in the past number of years, adding them to a multicar policy could increase the rates overall. In situations where this is the case, some people opt to sign an agreement with the insurance company that commits to them “The company/family will not lot that driver behind the wheel of a covered vehicle.” Unless this happens, the premiums in your household may be higher, so long as that person is living there. That said, in most cases, a multicar insurance policy will help you save money overall.

What Are the Requirements for Multi-Car Insurance Discounts?

In order to qualify for multicar insurance discounts, you will need to meet your car insurance companies’ requirements. Each insurance provider has different requirements for getting insurance on multiple vehicles. Some of the possible conditions can include:

  • Having all vehicles garaged or parked at the same location
  • Cars must not be a mix of commercial and passenger vehicles
  • All of the vehicles must at least have liability coverage; storage coverage is not enough
  • Companies may or may not allow motorcycles to be part of a bundle
  • Some companies require that the same driver owns all of the vehicles on a policy, and others do not

Ask About Secondary Vehicle Discounts for Low Mileage and Low Usage

There are times when people add a second vehicle to their car insurance policy because they rarely drive it and it makes sense. If you are using a separate vehicle over the weekend, for example, you might not put that many miles on the car. In cases like this, some insurance companies provide discounts because of the low usage rate of the vehicle. By putting a smaller number of miles on the vehicle, you are statistically less likely to make an insurance claim. Be sure to ask your insurance company about this option if it might apply.

Ask About Classic Car Discounts

Another reason that people get insurance for a second vehicle is that it is a classic car. Because these vehicles typically have lower miles on them and owners of classic cars generally take fantastic care of them, you may qualify for cheaper insurance for your classic car. Ask your insurance agent or provider about the classic car insurance that they offer. You may even be able to get additional discounts on your multicar policy.


Getting a multi-car policy with one insurance company is more convenient. There is one premium to pay each month, one set of paperwork, and one company to contact if things go awry. It is also convenient to renew your policy on one date, as opposed to multiple dates. In most cases, people who get a multicar policy with one company save money on their premiums. Some companies are stricter than others and only allow a certain number of vehicles to be on one policy. There are other ways to insure a second vehicle, but generally speaking, a multi-car insurance plan is the least expensive.

The discounts people get for adding an additional car to their insurance policy are among the most common that customers get. They are also one of the most valuable, along with bundling multiple insurance types with the same company. When it comes to purchasing automobile insurance, savor the most money you can by taking advantage of discounts like these. Free quotes are available right here.

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