Multi-Car Insurance

Topic: Multi-Car Insurance (Read 3579 times) previous topic - next topic

Multi-Car Insurance

March 11, 2009, 10:19:30 AM

Just curious if anyone has found an Auto Insurance Company that has a good Multi-Car Policy? I am not satisfied with my current company (State Farm). The rates seem good, however on the three vehicles with just liability, I am paying 3 times as much as if I were to only drive one of them. This may obviously make sense at first to some (3 cars = 3 times the cost), but to me it is a scam as I only drive one at a time. Two-Thirds of the Insurance Premium for these three vehicles is charged only so that I have the option of selecting which one I want to drive without having to call each day to tell them which vehicle I am driving. Being that these three vehicles only have liability, they are only a liability (risk to the insurance) when they are moving, and only one is moving at a time! I don't expect to have a multi-car discount cover the cost entirely, but it seems like it should get a lot closer...something like $500 per year for the three would be a lot nicer than the $320 each.

So, anybody had good luck with their insurance on the multi-car front?

I asked about insuring one vehicle Monday-Wednesday, another Thursday-Saturday and the Last one for Sundays only. I was told this can be setup, but I would get PILES of cancellation and other notices (bill adjustments, policy declarations and reinstatements) each week that would drive me insane. Maybe I should do this to make an example out of how ridiculous (or non-flexible) they are....

Any help or suggestions (other than selling some cars) would be greatly appreciated. Perhaps a company that is all online with instant coverage selection, as far as selecting which car I am going to drive tomorrow, is all I need.

Thanks,

Cooter

Multi-Car Insurance

Reply #1 – March 11, 2009, 11:22:42 AM

Ask about a "broad Form" I had one for years. None of my cars were insured unless "I" was driving them, it insures you , not the car. With a broad form I could drive somebody else uninsured car and it was insured with liability while I was driving it.

http://www.vernfonk.com/asp/glossary.asp

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Broad Form
A Broad Form covers the named insured to drive any owned or non owned vehicles (subject to restrictions). For liability insurance, be it one or twenty cars - it's the same price.

THAT'S what your asking for, now finding an insurance company that still wrights it might be a problem. When I had mine I let it laps, they would not renew it stating "they didn't do broad form anymore and I only had mine as long as I did due to it being grandfathered in." so they wouldn't re-wright it.

Multi-Car Insurance

Reply #2 – March 11, 2009, 01:32:57 PM

I would suspect the cost is due to the fact that more than one car could be on the road at a time, such as if you loaned it to a friend, spouse driving it, etc.

I have 2 cars insured and get a 5% multicar discount. You can also get discounts for having homeowners and other insurance all with one company. Some companies give discounts to members of groups like AAA.

It pays to check around, make some calls, check online, etc. I did some checking this year and by changing I saved over $350. Progressive has some good prices online, however they did not offer insurance that suited my needs. I called 3 places and 2 were within $75 of each other. Both ladies I spoke with seemed very efficient, and thorough. I chose the lower price, but would have paid a few bucks more to the other place had they struck me as more attentive. My thought being I want some one to assist me not just when buying, but should I ever have a clian.

Bottom line you need to check around. Base you decision on price, service, and convenience.

Multi-Car Insurance

Reply #3 – March 11, 2009, 02:07:48 PM

Thanks Jim, I'll look into the availability of Broad Form.

And mjbtbrd, I tend to agree with your first sentence of why this is this way. However, seems like they would offer some sort of exclusion (this vehicle is only insured if me or my wife are in it), or in my previous example only charge per number of eligible drivers and similar policies. For example, I actually insure 5 vehicles, but these vehicles have 3 different levels (1 full, 1 storage, and 3 just liability) of insurance. So I would argue that I should only be charged for 4 at most due to only having 2 eligible drivers. I probably will do some checking around, but probably only to find if such a in-use program exists.. as price per car, convenience and service are currently hard to beat. Thanks mjbtbrd.

Anyone else with any suggestions?

Cooter

Multi-Car Insurance

Reply #4 – March 11, 2009, 02:20:00 PM

Try as mjbtbrd stated to see if you can get more discounts. I have had State Farm for 20 years with no complaints. I have multiple cars insured with them and do get a multi-car discount and a multi-line disc as my house is with them also. All the non daily-driver cars here are also insured with them but I get a low rate on them since they are limited use so depending on your situation that might save you a bit. I have a 17yr old son so I know all to well about the wonderful world of high cost insurance. It was oddly enough cheaper to keep his bird insured all winter in the garage then to take it off and add him to one of our other vehicles. Good luck with your search and post if you find a good deal.

Multi-Car Insurance

Reply #5 – March 11, 2009, 03:00:07 PM

My wife and daughter work for liberty mutual, I"ll hit them up with what you ask. I take it you live in MI., every state is different.

Multi-Car Insurance

Reply #6 – March 11, 2009, 05:25:42 PM

This is Kitz's wife I work for Liberty Mutual Insurance Company. The rates you have if they are $320 per vehicle is not a bad rate. If the cars are registered they have to be insured. Are there any other drivers on the policy? You should have a multi policy discount, the first vehicle should cost you more than the other two on the policy. The policy you have with State Farm are all cars on one policy or are they listed separate?

Multi-Car Insurance

Reply #7 – March 11, 2009, 06:17:52 PM

Jim Miller's suggestion is excellent. The only other thing you might try, is "suspending" coverage. Companies have different policies regarding this. Allstate (not an endorsp00get) covers all of my vehicles, but I only keep two active (state-mandated liability) at a time to keep the costs down.

Multi-Car Insurance

Reply #8 – March 11, 2009, 10:01:23 PM

Thanks for all the replies. To answer the questions from Kitz's Wife, the vehicles (actually 5 of them) seem to have their own policies based on when they started to be insured with State Farm (something about preserving a point score for the cheapest rate). They are however grouped together to get the multi-car discount. I agree that the 320 a year for each of the liability rides is a good price, it just hurts to pay it when only one is driven at a time. Last Month I did move one of three liability rides into storage insurance, and I plan to continue this alternating coverage game seasonally. But if the broad policy exists and works out for cheaper (what I am hoping for), or if I find an Insurance Provider that makes it extremely easy to add and drop coverage online I'll probably switch companies. I'll post up if I do switch/find something better. Thanks again, Cooter

Multi-Car Insurance

Reply #9 – March 11, 2009, 11:39:34 PM

Between my dad and I, we insure five cars with Erie Insurance Group (three for him, two for me). You could ask them for a quote. I pay a lot, but that's because living so close to Philly I have God's own coverage for myself in case I get hurt (when a drunk with 3 liters of booze and cocaine in his minivan totaled my dad's Blazer--and told three cops that he "would kick their asses", we jacked our coverage through the roof). Without all the extra coverage, they seem pretty reasonable (especially if you also get homeowner's, umbrella, etc. with them).

Multi-Car Insurance

Reply #10 – March 16, 2009, 01:28:53 PM

Thanks again for all the replies.

So far all the quotes I have received don't justify a change, and it appears that the best route is to just add and drop coverage when I want to drive certain vehicles. This still sucks because I am getting less coverage for more money (keeping just liability, so I can drive them, costs more than storage insurance, but storage insurance is what these types of vehicles need most often!) only because I can't readily change the coverage without getting inundated with weekly notices and updates. I am working with State Farm to get the switching coverage process handled better. The Broad Form Type of coverage (having just liability follow me and my wife to whatever vehicle we are driving) appears to only be available on "antiques and classics" and the oldest (1985) isn't old enough yet (needs to be 25 years old).

Regards,

Cooter

Multi-Car Insurance

Reply #11 – March 16, 2009, 03:48:20 PM

There's a post around here about classic ins. I don;t have time to find it now. I have it on mine your allowed 5000 miles a year you don't need special plates, full coverage to $8000 is only $128 a year for full coverage. so if you can split them up some how, your set.
American classic ins., If you need a phone # I'll get it for you?

Multi-Car Insurance

Reply #12 – March 16, 2009, 05:05:51 PM

Quote from: Jim_Miller;260810

Ask about a "broad Form" I had one for years. None of my cars were insured unless "I" was driving them, it insures you , not the car. With a broad form I could drive somebody else uninsured car and it was insured with liability while I was driving it.

How could that work in situations where a car covered in this manner were unoccupied when struck by another uninsured vehicle/motorist? Seems you'd be out of luck. How would this work with glass coverage? Most windows get broken when no one is around...

Multi-Car Insurance

Reply #13 – March 16, 2009, 07:26:48 PM

Quote from: V8Demon;261961

How could that work in situations where a car covered in this manner were unoccupied when struck by another uninsured vehicle/motorist? Seems you'd be out of luck. How would this work with glass coverage? Most windows get broken when no one is around...

Aside from the fact it is strictly liability I have no idea, this was 10 years ago for me. I have to have full coverage on financed cars these days. When I did have the broad form I never made a claim on it.
I assume:

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where a car covered in this manner were unoccupied when struck by another uninsured vehicle/motorist?

The car is NOT insured in this manner.. the individual/person is. So that uninsured driver just struck your uninsured car.

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Seems you'd be out of luck.

"LIABILITY" your out of luck anyway.

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How would this work with glass coverage? Most windows get broken when no one is around...

again "LIABILITY" I would assume you have a broken window and are out of luck just as if you had liability on the car and somebody broke your window.
unless of course your parked car broke somebody's window, then I suppose even worse you would have to pay for the window your parked car broke.

Definitions of liability on the Web:

the state of being legally obliged and responsible
indebtedness: an obligation to pay money to another party

Multi-Car Insurance

Reply #14 – March 16, 2009, 08:20:20 PM

wow you guys have lower minimums then us. I think our minimun is like 25,000 where yours is 8. Also, in utah both drivers get a ticket in an accident. If you have insurance and they dont, you get both tickets. Even if your sitting stopped at a light and they run into the back of you. You would get a improper look out ticket, and they would get one for causing the accident.

Around here your only chance would be storage insurance. I pay $130 a month for just my tbird with minimum coverage.