According to recent research three out of
ten households in the UK now have more than one car. Yet multi-car insurance for
households is a fairly new product on the UK insurance market. This may seem
strange, as many households have owned multiple vehicles for many years now.
However, until recently, all vehicles were insured by separate policies, and
often by different insurance companies.
This was partly due to insurers being worried they would lose customers if the
premiums became too high. However, numerous insurers realise that people want
the convenience of quality cover along with reasonable premiums. So the insurers
have now set up a newer discount system to provide coverage for multiple car
households. These multi-car policies have become quite popular among families,
flatmates, and students.
However, research has also revealed that
nearly a third of UK households with multiple vehicles may be paying too much
for their insurance cover. Some may be paying as much as 60% over the odds for
their car insurance. This is mostly due to the lack of proper research being
conducted before the cover is purchased or renewed. Many people merely perform
minor comparison shopping, and so do not find the best deals. They simply assume
that all multi-car policies and insurance companies are alike. Other people
don't bother to do any comparison shopping at all when renewing or purchasing
Whether you're purchasing cover for one or
several vehicles, there are certain steps you should take. These steps are:
?· Be aware that not all insurance companies determine the premiums in the same
manner - and be aware of which insurance groups each driver and vehicle may be
classified as. Most companies consider age, gender, credit history, driving
record, residence, occupation, education, and health, as well as mileage driven
and type of vehicle for each driver being insured.
?· Be aware that not all insurance companies offer the same discounts, nor do
they always tell you when you qualify for a discount. Always ask about all the
possible discounts before purchasing or renewing your insurance policy, or use a
good price comparison engine.
?· Be smart - Research all your various insurance options, both on-line and
offline. Be sure to compare the prices, quality, and benefits being offered, and
ascertain if they adequately meet your requirements.
?· Compare multi-car policies to single car policies. Owing to the vehicles'
makes & models, age of drivers, or other factors, it may, or may not, be better
to insure the vehicles or drivers separately rather than as a group on one
?· Don't be afraid to ask if the insurer will transfer vehicles onto the
multi-car policy before their insurance renewal date becomes due.
?· Don't be afraid to ask for advice from family and friends, they may have found
some excellent insurance deals already.
It may become confusing trying to determine which deals are the best. Sometimes
it's hard to do comparison shopping when the companies are offering different
types of discounts. Finding out which insurance groups you belong in may be hard
to do as well. If you need help doing any of these steps, then contact a
reliable multi-car insurance specialist or broker.
whizzcarinsurance.com 2013 All Rights Reserved