Multi car insurance
Get multi car insurance when you want to insure more than one car at the same address.
Many families now need to insure two or more cars – either because one person owns more than one car or because several cars are owned by members of the same family. Multi car insurance is an answer to that need.
Approaches to multi car insurance
Multi car insurance means different things to different insurance companies – some companies put more than one car on the same policy, some offer a discount for a second, or subsequent, car insurance policy. LV= goes one stage further than that and actually offers a multi insurance discount if you take out any combination of LV= insurance products, not just multi car insurance.
Whichever approach is taken with multi car insurance, all the vehicles need to be registered at the same address, which means that it may be possible to benefit from multi car insurance for you, your spouse and your children – and, with some companies, possibly even friends, if they live at the same address.
As with any car insurance policy, the premium and any discount with multi car insurance depends on age, gender, driving experience and history, car model and engine size etc.
Will I save money with multi car insurance?
It’s possible that you could save money with a multi car insurance policy. But it doesn't always work out cheaper than buying individual policies, so it’s worth checking the pros and cons.
Things to check when considering multi car insurance
No claims discount
- Do you get a matched no claims discount if you take out a policy for a second car or add a car to a multi car insurance policy?
- Does an accident by one driver in one car affect another driver’s no claims discount?
- Do you get a matched no claims discount if you take out a policy for a second car or add a car to a multi car insurance policy?
Renewal dates
If all renewal dates of separate policies are aligned or a multi car insurance policy is paid annually, this could be a considerable sum. You may be able to spread your payments but this may cost you more in total. And you may lose out at the start of a multi-car insurance policy if you bring the start or renewal date of existing separate policies into line.
The cost of changes
Are there any charges if you change your car during the multi car insurance policy term?
Driving other vehicles
You may be able to drive only cars where you’re a named driver on the multi car insurance policy.
As with all insurance, it makes sense to check that the multi car insurance policy covers what you want it to – at a value-for-money price. With the flexible options at LV=, we think you’ll find what you’re looking for.
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