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Multi-car insurance

A multi-vehicle car insurance policy lets you insure 2 or more cars with the same insurer, and it can earn you a discount.

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By

Alexandra Koster

Edited by

Gary Ross Hunter

Updated

Fact checked
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It's quite common for one household to have multiple vehicles, so why not insure them all together and reduce your premiums and your paperwork?

How does multi-car insurance work?

Multi-vehicle car insurance refers to insuring more than one vehicle under the same policy and merging the payments. This comes with two major benefits:

  • You may get a discount
  • It reduces the paperwork

In most cases, you can customise each car's cover, meaning that you can still ensure you're getting the right level of insurance for your needs.

To get multi-car insurance, you usually just need to ensure all cars are at the same address.

Are there any other discounts available?

You might be able to bring your costs even lower by stacking other discounts on top of your multi-car discount. Here are some other ways to save:

  • No-claims bonus. Some insurers will give you a driver rating that improves every year that you don't make a claim. As your rating increases, so do your discounts. However, once you do make certain claims, your rating will go back down and your discounts will too.
  • Multi-policy discounts. Some insurers will offer you a discount if you take out a different type of insurance alongside your car insurance. This can include home insurance, life insurance, travel insurance or health insurance.
  • Loyalty discounts. Some insurers will apply discounts if you've been with them for a long time. For example, NRMA will give you a 5% discount if you've had the same policy with them for at least three years. It increases the longer you stay and the more products you have with them.
  • Safety discounts. Safe driving means less risk for the insurer, and many insurers will reward you for that. You might be able to score discounts for parking in a garage, installing a car alarm and even taking driver safety courses.

FAQs

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To make sure you get accurate and helpful information, this guide has been edited by Gary Ross Hunter as part of our fact-checking process.
Alexandra Koster's headshot
Publisher

Alexandra Koster was Finder's publisher for car, home and pet insurance. She has a Tier 1 certification in General Insurance, as well as a Bachelor of Arts in Film and Cultural Studies from the University of Sydney. Her hobbies include reading Product Disclosure Statements and deciphering complicated insurance lingo to help people save on their insurance so that they can spend their money on better things – like dogs. See full bio

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