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Multi-Car Insurance Tips

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 their insurance.

Purchasing tips

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 policy.

? 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.

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