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Multi Car Insurance Policies

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Hi Everyone.  Does anybody have experience of using Multi- car insurance policies over a longer period.  I’m not familiar with this option even though it’s been available for quite some time.  Our I nsurance renewals are not far ahead, and it appears that significant savings - about 40% cheaper than two individual policies, can initially, be made.  I would expect that the initial premium payable will increase for a second year renewal, as is often the case.

Has anybody found there to be any pitfalls or drawbacks having 2 cars on a Joint policy.  I am being very cautious here as when something appears too good to be true I like to check it out further.  It’s not something that I’ve ever really considered before, both of us having worked hard and long to obtain no claims discounts.

Thanks in advance. 

Edited by NRW
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Hi @NRW I have been looking to this recently,

 

for context the best quote I had individually was £740 a year for the R my girlfriend pays about £450 a year for insurance also so a combined cost of £1190.

 

I got a quote from Admiral using their multicar policy just yesterday and the results are good. They quoted £525 for the R and £380 for my girlfriends Citroen DS3... so combined cost of £905... so by combining the savings are almost £300 per year.

 

Seems a no brainer to me. 

 

Dan

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13 minutes ago, Djs2394 said:

Hi @NRW I have been looking to this recently,

 

for context the best quote I had individually was £740 a year for the R my girlfriend pays about £450 a year for insurance also so a combined cost of £1190.

 

I got a quote from Admiral using their multicar policy just yesterday and the results are good. They quoted £525 for the R and £380 for my girlfriends Citroen DS3... so combined cost of £905... so by combining the savings are almost £300 per year.

 

Seems a no brainer to me. 

 

Dan

 

Sounds like they wanted your business 😎

 

One thing to keep in mind, if you and your gf were both with different insurers, it makes sense for Admiral to give you a better multi quote than you were being offered individually, snatching up 2 new customers for themselves. 

 

This could be the same for you @NRW

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Yes. We’ve had multi-car discounts from Privilege in the past and they were often willing to match or beat cheaper quotes at renewal time; IIRC it was ~£100 cheaper than having two separate policies.  I was with privilege for 5-6 years but then they went silly with renewal quotes and would no longer price match. 

 

Mine is due for renewal next month and I’ll be going to Admiral as  they are mod friendly and offer the multi-car discount. 

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I have used multi car discount for years.

 

originally with Admiral but now with LV.

 

the reason for the switch to LV was Admiral trying to add £300 quid to my annual renewal.

 

yes they dropped it and price matched LV, however it was the fact they tried to rob me of real cash.

 

Also LV tend to be Mod friendly.

 

with Admiral, the Wales office is totally wank, the Canadian Office is far more pragmatic.

 

we usually have 2 cars on it, but at times this has been 3 cars.

 

at present it's 2 cars parked on drive in Wolverhampton, with Business insurance for both, upgraded replacement cars, legal cover and other stuff, comes in circa £500 for both cars our R and my wife's Civic Sport.

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15 minutes ago, Gavras said:

in circa £500 for both cars our R and my wife's Civic Sport.

Thank you.  Similar sum for us..  Yes, a no-brainier financially but I was looking for any catches there might be. ..if any. 👍

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4 minutes ago, NRW said:

Thank you.  Similar sum for us..  Yes, a no-brainier financially but I was looking for any catches there might be. ..if any. 👍

Main thing is to check what is and is not covered, legal protection, replacement car type, excess amount on screens, if can use designated VW repair centre, all the usual stuff.

 

also remember if more than 1 car, one of them may have a far lower mileage, if so make sure you ensure it's included.

 

over the years, I have found that it's the extra bits that separate a cheap insurance from one that may be slightly higher but gives better service cover.

 

 

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I have 3 cars with Elephant. 

 

The first car attracts the biggest discount, in this case my R which costs me £181 at renewal in March. Its also insured as stage 1 map. 

 

This is the 3rd year of multi car, initially starting with two then adding the octavia when I lost my company car. 

 

You insure the first car and then the next ones get added as and when they're due so if car 1 is started in march and then car 2 in July you pay for 8 months on car 2 and so on. 

 

This saves around £500+ per year as cheapest I could get R on its own was about £550. 

 

They also seemingly cocked up when I added octavia on as despite telling me it was an additional car in addition to R so no no claims and proof of 4 years claim free in company car, at renewal they put 20 years no claims on the same as R so that only costs me £280 for 15k miles and business use!

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Trying to sort this with Quote Me Happy at present.

 

im already with them and SWMBO has just moved to them. For some reason they can’t link the same surname and address so not  giving discount. 
 

Further mails to them tomorrow, as on line insurer onlyand can’t call them

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10 minutes ago, jrw said:

my R which costs me £181

I just have to sit and keep repeating this.   Think that’s the least I’ve ever seen, and for Stage 1!  
Thank you for the details. I’ll be spending some time online searching soon.

I’m still looking for pitfalls, drawbacks, catches, but not yet succeeding.

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1 minute ago, NRW said:

I just have to sit and keep repeating this.   Think that’s the least I’ve ever seen, and for Stage 1!  
Thank you for the details. I’ll be spending some time online searching soon.

I’m still looking for pitfalls, drawbacks, catches, but not yet succeeding.

Hence why I've renewed for last two years! 

 

37, full no claims, no accidents or endorsements. Driveway insured, 6k mileage with commuting and business and WS postcode. Had to take swmbo off this year as she has 3 points which nearly doubled the price! 

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46 minutes ago, NRW said:

I just have to sit and keep repeating this.   Think that’s the least I’ve ever seen, and for Stage 1!  
Thank you for the details. I’ll be spending some time online searching soon.

I’m still looking for pitfalls, drawbacks, catches, but not yet succeeding.

 

I don't think you'll find any pitfalls Neil.

I have one piece of advice for your online searching. Whatever else you do, try LV.

 

I have been with Aviva for about 5 years (2 car multicar cover) and thought/assumed that the price was reasonable.

It has crept up over those 5 years (about £20-30 per yr iirc), but last week the annual renewal came through at £96 more than last year! I had heard lots of good things about LV (on here and elsewhere) so decided to give them a try. I spent about 20 mins on their web site (which is very good btw) and couldn't quite believe my eyes when the quote popped up at the end: £312 less than Aviva for exactly the same cover! (£434 vs £746). Definitely the most productive 20 mins I have spent during lock-down!

 

Just shows what a lottery car insurance can be. I think you get 'taken for granted' after a few years with one company (the same happened to me with Direct Line prior to Aviva), so shopping around at renewal time is worth doing whatever type of policy you have...

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7 minutes ago, PhilC22 said:

Just shows what a lottery car insurance can be. I think you get 'taken for granted' after a few years with one company (the same happened to me with Direct Line prior to Aviva), so shopping around at renewal time is worth doing whatever type of policy you have...

Thank you Phil for this. At one time, with a DL policy, I used to get a quote as a new customer with DL  prior to renewal. Usually the New customer quote was lots cheaper. I’d then arrange cover by phone, taking the lower figure for cover. Those days have now gone.😂  I’ll give LV a go thanks.

Agree 100% about shopping around a bit. The savings can represent quite a decent hourly pay rate through the savings👍  
 

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55 minutes ago, jrw said:

 

This saves around £500+ per year as cheapest I could get R on its own was about £550

 

Yeah mine was £540 this year, and £600 after adding legal expense cover and courtesy car added options.

 

But I'm 35, modified stage 2 and I was happy as I feared it would be way higher with the shit that's going on atm, so I was celebrating

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I've been MC with Admiral for years Neil, and no complaints. Had a couple of non fault incidents over that time and all sorted really quickly. Amazingly so in one incident where was rear ended in start/stop traffic on M1 around Luton, around 90 mins later and still on way home I got a call from them, saying the other driver was also insured with them, admitted fault and Admiral started repair paperwork there and then.

 

Only thing I've found that you might want to consider, each renewal I do go and get an online quote, like for like and instances where I've found cheaper (every other year on average) They've price matched.

I have my own NCB, as does SWMBO, given we insure under same terms, me with the Golf, her with a Fiesta, it can work out cheaper to switch who is the main policy holder on car, maybe worth a try.

Admiral don't charge extra for a tune of <25% power.

 

Be well and stay safe

J.

 

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