The PROS and CONS of MultiCar Insurance
- 6 years ago
This video is about the PROS and CONS of multi-car insurance. Multicar insurance is being sold hard but is it all it seems?
------
▶️ ON OUR WEBSITE & "MONEY MATTERS" BLOG
- The Pros and Cons of multicar insurance: https://www.solution-loans.co.uk/blog/pros-cons-multi-car-insurance/
- How telematic black box car insurance works: https://www.solution-loans.co.uk/blog/how-telematic-black-box-insurance-young-drivers-works/
- How to avoid sky high car insurance premiums if you are a young driver: https://www.solution-loans.co.uk/blog/young-drivers-sky-high-car-insurance/
- How to find a really good secondhand car: https://www.solution-loans.co.uk/blog/find-really-good-second-hand-used-car/
------
▶️ SOCIAL
Like us on Facebook: https://www.facebook.com/SolutionLoanUK
Follow us on Twitter: https://twitter.com/solutionloansuk
Follow us on Instagram: https://www.instagram.com/solutionloans/
Website: https://www.solution-loans.co.uk/
Subscribe to our YouTube channel: https://bit.ly/solutionloansYT
------
▶️ VIDEO TRANSCRIPT
The Pros and Cons of Multi Car Insurance. Multicar insurance is a great option for families and groups. Multi car policies normally offer all of the same benefits as a regular policy but extend it to multiple cars.
The PROS of MultiCar Insurance
You can save several hundred pounds by insuring numerous cars under one policy. With a multi car insurance policy you only have one set of paperwork to complete. Multicar insurance works better when there are more cars. You could save up to 20% if everyone in the household is insured on one policy and you have more than two cars. The only requirement for multi car insurance is that the cars are registered at the same address.
The CONS of MultiCar Insurance
All the cars will suddenly have the same renewal date. So, if you’re considering switching to a multi car insurance policy, make sure you factor this into your budget. It’s worth shopping around as some multi car insurance policies don’t offer particularly impressive discounts. Depending on factors such as where you live and how many cars you have, individual policies might still be cheaper. The insurance premium you pay is based on a risk assessment of everyone being covered. If you have someone in the household who counts as high risk this can really push the premium up. Separate insurance policies might be the smarter way forward. Some insurance companies simply spike the price for high-risk drivers. Others won’t offer any cover at all if a driver has problems such as driving under the influence.
So, you'll need to weigh up the PROS against the CONS for your personal circumstance.
------
▶️ ON OUR WEBSITE & "MONEY MATTERS" BLOG
- The Pros and Cons of multicar insurance: https://www.solution-loans.co.uk/blog/pros-cons-multi-car-insurance/
- How telematic black box car insurance works: https://www.solution-loans.co.uk/blog/how-telematic-black-box-insurance-young-drivers-works/
- How to avoid sky high car insurance premiums if you are a young driver: https://www.solution-loans.co.uk/blog/young-drivers-sky-high-car-insurance/
- How to find a really good secondhand car: https://www.solution-loans.co.uk/blog/find-really-good-second-hand-used-car/
------
▶️ SOCIAL
Like us on Facebook: https://www.facebook.com/SolutionLoanUK
Follow us on Twitter: https://twitter.com/solutionloansuk
Follow us on Instagram: https://www.instagram.com/solutionloans/
Website: https://www.solution-loans.co.uk/
Subscribe to our YouTube channel: https://bit.ly/solutionloansYT
------
▶️ VIDEO TRANSCRIPT
The Pros and Cons of Multi Car Insurance. Multicar insurance is a great option for families and groups. Multi car policies normally offer all of the same benefits as a regular policy but extend it to multiple cars.
The PROS of MultiCar Insurance
You can save several hundred pounds by insuring numerous cars under one policy. With a multi car insurance policy you only have one set of paperwork to complete. Multicar insurance works better when there are more cars. You could save up to 20% if everyone in the household is insured on one policy and you have more than two cars. The only requirement for multi car insurance is that the cars are registered at the same address.
The CONS of MultiCar Insurance
All the cars will suddenly have the same renewal date. So, if you’re considering switching to a multi car insurance policy, make sure you factor this into your budget. It’s worth shopping around as some multi car insurance policies don’t offer particularly impressive discounts. Depending on factors such as where you live and how many cars you have, individual policies might still be cheaper. The insurance premium you pay is based on a risk assessment of everyone being covered. If you have someone in the household who counts as high risk this can really push the premium up. Separate insurance policies might be the smarter way forward. Some insurance companies simply spike the price for high-risk drivers. Others won’t offer any cover at all if a driver has problems such as driving under the influence.
So, you'll need to weigh up the PROS against the CONS for your personal circumstance.