Do you own more than one car and are you paying too much for car insurance?
There may be a way for you to save money on your policy. Multi car insurance is
a single policy that covers multiple cars at the same address. You can have as
many cars as you like on a multiple car insurance policy. They must all be in
the same family and at the same address. It is cheaper for the insurance
companies to put all of the cars under one policy than to have several
individual policies. There is much less overhead such as paper work and admin
costs. In many cases when the insurance company saves money they will happily
pass the savings on to you.
You can get multi car insurance policies in both third party and comprehensive packages. Comprehensive will pay for the damages to your car and to the other driver’s car if you cause an accident. The people in both vehicles will be covered. Third party only pays for the damages to the other driver. Their medical and property damage will be paid for. Comprehensive is actually a better policy since it does pay all damages. The expense of getting a car repaired out of pocket can be too much for most people.
Comprehensive is more expensive however. You can get third party for a lot less.
New cars are usually required by the financial institution to have comprehensive on it. If you have multiple cars on one policy and one needs to have comprehensive, which means all of the cars will have to be covered with comprehensive. If you own older cars that don't have much value you are paying more than what you need. This is a good time to check the cost of individual policies. It may be cheaper for you to have the car with comprehensive on its own policy. You can then put the other cars together under third party cover on a multi car policy.
You will want to check quotes for all methods available to you. It will pay off for you to spend a few minutes getting and checking quotes on individual policies and multi car policies. Check the price of comprehensive and third party to see which is best for you. You may decide you want all your cars on one policy. It will save you money and it is convenient. When you have several different policies you will have several different due dates and bills to pay. You will have to keep track of each due date on your individual policies.
When you have multiple car insurance there will be one due date to worry about. Now you will have to decide if you want to pay your insurance a year at a time or if you would rather make instalment payments. For many people instalments are easier financially. They cannot come up with the funds to pay for the year's policy. When you have instalments your insurance will be a little more expensive but it won’t amount to a lot. Get the insurance policy where all your cares are on one and you will be able to save.
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