Your guide to understanding multi car insurance

5 minutes

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Do you live in a multi car household? If so, you're not alone.

Did you know one in three UK households now own two or more cars? Whether you're a couple with a car each, live in a shared house with friends, or your grown-up children live at home and run their own vehicles, you're part of a growing trend.

The good news is that at LV= we offer discounted multi car insurance for households with more than one car.

What is multi car insurance?

Multi car insurance is a convenient way to insure up to six cars registered to the same address on a single policy. 

Although the cars are all on the same policy, each one has its own level of cover. It means you can decide how much excess you want to pay on each vehicle and you'll build up your individual no claim discount (NCD) as normal. This means if one car is involved in an accident, the no claim discount on the other cars won’t be affected.

Plus, you can choose additional cover options to add to each policy, allowing you to tailor the cover to suit your needs.

Why should I take out multi car insurance?

A multi car insurance policy lets you insure two or more cars on one policy, so it’s much more convenient than having more than one policy.

Here are three good reasons to take out multi car insurance:

1. Your insurance could be cheaper 
You’ll usually be offered a discounted price if you take out insurance on more than one car with us. So, you could find that your overall insurance costs go down with a multi car policy from LV=.
2. It's more convenient
Insurance for all the vehicles included on the policy will renew on the same day. This takes away the stress of trying to remember which car needs to be renewed and when. You'll also only have one insurance company to deal with, making the process much more straightforward.
3. The whole household can be covered
At LV= we provide multi car insurance for up to six cars and 12 drivers, so even the biggest households can be covered. It’s an ideal way to make sure all cars have the right level of cover.

How does multi car insurance work?

If you already have insurance cover in place for all the cars in your household, you may be wondering how they all come together on a single policy with one renewal date.

Well, the good news is that you won't need to cancel any policies in order to take out multi car insurance. At LV= you can start a multi car insurance policy with one car and add other cars from your household as they come up for renewal.

What’s the process for organising multi car insurance?

To best demonstrate how multi car insurance works, here’s a good example:

  • Ann's car is due for renewal now and she's decided the most cost-effective way to get everyone insured is with a multi car insurance policy.
  • Ann fills out an online form with the details of the four cars and drivers who will eventually be on the insurance policy. This includes her, Steven, Megan and Holly. Each of their cars has a different excess level, no claim discount (NCD) and insurance extras.
  • When the other cars come up for renewal, they’re automatically added to the insurance policy. Steven's car comes up for renewal three months after Ann's, and Megan's and Holly's cars two months after that. So Steven, Megan and Holly are only charged for the months they’re included on the policy, until Ann's next renewal date. On this date all the cars and drivers are included in the renewal.
  • Ann gets her multi car discount from the date she takes out the insurance and the others get their discount when they join the policy.
Multi car insurance is a convenient way to insure up to six cars registered to the same address on a single policy. 

What about electric cars?

It’s possible to add an electric car to a multi car insurance policy, even if the other vehicles have petrol and diesel engines. The level of cover and any optional extras you choose will affect the overall cost of the policy.

At LV=, our electric car insurance covers specific things such as recovery to the nearest charging point in the UK if you run out of charge , charging accessories such as cables, wall boxes and adapters, as well as covering batteries, even if they are leased separately from the car.  You will still get these benefits if you insure an electric car together with a petrol or diesel car on a multi car policy.

Is multi car insurance right for me?

Our multi car insurance is very flexible and can suit lots of different households, whether you want to simply insure two cars on one policy or make it easy for a few people to drive the same car. If any of the following apply, multi car insurance could be for you:

Families with several cars on the drive
You only need to deal with one insurance provider once a year. Easy.
Couples who use each other's car
At LV= up to six cars can be insured and 12 drivers named on the policy.
Student with a car away from home
As long as the car is registered at the same address as the other vehicles on the policy, the car can be included.
Friends sharing a house
You don't have to be related to take out a multi car insurance policy.

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All content is approved by our in-house advisory board of experts.