Multi-car insurance- does it really save you money?

May 1st, 2010

You would think that a multi-car insurance policy would save you money but in actual fact it could be cheaper to buy individual policies, according to swiftcover.com. They put it to the test and compared the price of two popular cars on a multi policy with the cost of insuring them separately. They found that multi car policy users could be paying up to twice as much for their car insurance!

Over the past 30 years the number of households with more than one car has grown and in 2008, 32% of households had access to two or more cars, so it’s no surprise that multi-car insurance sounds appealing to many. But before you rush into buying your insurance, it’s a good idea to compare the prices of different policies first- you could save yourself a lot of money.

Entry Filed under: family, advice, insurance