Multi car insurance?

[jwasbury]

Hey folks,

Like many of you, I suffer from multiple car syndrome. I'm looking at acquiring a 4th for my 2 driver household (not counting the race cars). I insure through State Farm. I can qualify for "low mileage" on some of these vehicles, but the incremental liability insurance cost seems very high given that we only have 2 drivers. Wondering if there is any sort of "fleet" insurance available for people like us with more cars than drivers. Collector car insurance doesn't work because we will use all our cars for commuting duty.

[speeder]

The bane of my existence. I'll be watching this thread.

[RKDinOKC]

Yep, as a single person with 3 cars the "multiple car discount" does not seem to take into consideration that I can only drive one at a time.

Personally think it would be a much better model to insure the driver(s). Then have the policy incude all the cars you own with the premium based on covering the most expensive car to replace/repair/risk etc. Then additional cars would not increase that premium unless their value/repair/risk is higher than the main car (highest replacement/repair/risk) being covered.

Example: Basic insurance rate is based on my driving record, tickets, accidents etc. And I have a new car. Then my premium would be my base plus whatever the insurance is on the new car. Then later I get a cheap economy car to drive back and forth to work. And since it's value and costs to replace or repair is much less than the new car, it is just added to my policy and covered under the current premiums. Then because I save so much getting back and forth to work I trade my new car in on a much nicer new car. Then my premiums would go up to cover the difference between the newest new car and the old new car. Or I decide the cheap economy car is all I need and sell the new car then my premium goes down the difference betwee the repacement/repair costs of the new car and the cheap economy car.

Of course you couldn't let anyone else drive your cars unless the were added to your policy adding the base for their driving record to your premium.

[stevej37]

I also have State Farm Ins. My yearly prem for the two 911's is $104 per car.
It's just liability, but that's my choice. Very happy with that rate. Drive either of them whenever I please...except for when the salt trucks are out!

[RKDinOKC]

There are enough morons out there moving vehicles around that I don't even consider carrying only liability on anything.

[A930Rocket]

We went with Geico after State Farm dropped us due to 2-3 claim in a 1 year period. No claims before that for 15 years.

Geico is 1/3 the cost of State Farm.

[stevej37]

Sometimes it's about like choosing a cable/sat provider. Go with the cheapest, and be prepared to switch after the first couple years...doesn't pay to be a loyal customer.

[Brando]

Check out Wawanesa: Welcome to Wawanesa Insurance - Wawanesa USA - California

For 2 vehicles (when I had the Cayman) it was ½ of what AAA wanted (2200/year), full C&C, GAP, etc. No mileage limits.

After dropping the CS the rate plummeted. Happy with them so far.

[stevej37]

Originally Posted by Brando

Check out Wawanesa: Welcome to Wawanesa Insurance - Wawanesa USA - California

For 2 vehicles (when I had the Cayman) it was ½ of what AAA wanted (2200/year), full C&C, GAP, etc. No mileage limits.

After dropping the CS the rate plummeted. Happy with them so far.

He's in Jersey

[rockfan4]

Originally Posted by stevej37

be prepared to switch after the first couple years...doesn't pay to be a loyal customer.

+1. I shopped around a couple of years ago and one of the firms - AmFam, Farmer's, I forget which one, offered a "new customer discount". I asked what would happen after that expired, and the agent told me the rate would go up.

I'm also interested in this topic, as we have 2 drivers and 4 vehicles, 2 with manual transmissions so the girlfriend won't drive either of them.

[VINMAN]

We have HiPoint ( Prudential...) We have 4 vehicles on it, only 2 drivers. The "multi-car" discount is a negligible joke.



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[jwasbury]

Originally Posted by stevej37

I also have State Farm Ins. My yearly prem for the two 911's is $104 per car.
It's just liability, but that's my choice. Very happy with that rate. Drive either of them whenever I please...except for when the salt trucks are out!

That's crazy cheap compared to NJ. The incremental cost of collision and comprehensive insurance is not too bad...the liability is the killer. I got quoted $1600 per year to add 4th vehicle (1995 benz E300D). Includes full coverage and I carry a good deal more than state minimum level of coverage since I do have assets to lose if somebody sues me. State Farm rates were/are competitive. Perhaps I need to change. Had Geico and they were more expensive than either State Farm or Progressive.

[john70t]

It never hurts to talk to a ins broker, or two, and review your options.

[onewhippedpuppy]

Originally Posted by A930Rocket

We went with Geico after State Farm dropped us due to 2-3 claim in a 1 year period. No claims before that for 15 years.

Geico is 1/3 the cost of State Farm.

This. I have three vehicles on Geico and have used them for years. Best customer service of any national company that I have ever dealt with, consistently short wait times and you speak with an American that can actually help you. Rates don't go up yearly like most companies. Wife had an accident last year (not her fault), I had a ticket this year (first in 10+ years), no changes in rate. I think we have been with them since 2008, were briefly lured away by a bundled rate with homeowners that was drastically increased within a year.

Both Porsches are on Leland West, dirt cheap with the PCA discount and they allow you to drive them to work. Agreed value means you won't get screwed on a claim.

[HarryD]

I have my 4 cars and home with State Farm. I have minimum liability on each policy and an Umbrella to raise my liability to a much higher level.

This gives me the coverage I want with a much lower cost. Check with your insurance guy about this approach.