Multi-policy and Multi-vehicle Discounts

Insurance companies offer an array of discounts to their clients. Although not all companies offer the same discounts, some discounts are offered by almost all companies. Along with reduced premium rates for a good driving record, a vehicle that has certain safety features, and a good credit history some insurance providers offer multi-policy and multi-vehicle discounts.

Multi-policy discount basics

A multi-policy discount is a discount that's offered when a policy holder has more than one policy with the same insurance company. For instance, if you own a home and have homeowner's insurance, then the same insurance company may offer you a discount on your auto insurance for holding both policies with them. This discount is often also given when you have a life insurance policy with the same company as well.

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Multi-vehicle discount basics

As with the multi-policy discount, many insurance providers will offer a discount on your auto insurance policy if you insure multiple automobiles with them. This is a much more common discount among insurance providers. In order to qualify for this discount, all the vehicles to be insured must be owned and used by the same person and/or their relatives that reside in the same household as the insured.

These discounts are not always available in every state. It depends on what the individual insurance companies' policies are. Some companies that offer the multi-policy and multi-vehicle discounts may include Erie insurance, Progressive, Allstate, and Allied (a branch of Nationwide Insurance.) The amount of savings will vary with each company, but you could save as much as 10% on the multi-policy and multi-vehicle discounts.

The multi-policy and multi-vehicle discounts are certainly one way to lower your annual insurance premiums. Take the time to shop around for an insurance company that offers these types of discounts. You can start by requesting a free multi-policy or multi-vehicle auto insurance quote right here!