You should also consider including optional add-ons for collision and comprehensive insurance if the car you own is less than ten years old. The insurance company may not provide you with all the features you want, or it may not provide any classic car insurance. A multi-car insurance policy refers to an insurance policy that covers more than one car stored or parked at the same address. You'll miss out on a multi-car insurance discount if you divide your policy coverage between two insurers.
However, it's best to confirm this with your car insurance company, as premiums will be adjusted based on the insurance rates in the zip code where your child stays while in school. The only way to know that you are taking out the best insurance policy for several cars is to get quotes from different insurers and choose the one with the lowest price. When you add a car, talk to your agent to see if you'll get additional discounts for adding a new car to your current insurance policy. For example, if your adult child lives with you and you insure your car with the same insurance company as yours, some insurers will offer you multi-car discounts on both policies.
Collision coverage pays costs equivalent to the cash value of the car for damage suffered after a collision and also covers damage caused by floods, fires, hail, vandalism and theft. Some insurers offer discounts only if the covered cars are in the same house and are insured by people who reside there. Auto insurance companies have worked to facilitate the process of getting quotes online, especially for several vehicles. Florida residents are generally entitled to several discounts on cars, as long as both vehicle owners live in the same household, are related to each other, and each driver is designated as insured in the policies.
Some insurers will offer residents a discount for several vehicles at the same address, although you may have different car insurance plans. Geico allows you to add the most cars (nine) from any major insurance company, but each company allows you to have at least four cars in your policy. However, there is the advantage that if you insure your car and motorcycle with the same auto insurance company, you could be entitled to a discount of up to 20% on multiple policies. Auto insurers and state regulations generally require that the coverage limits of all the cars included in their contract be the same to avoid misunderstandings about the liability limitations of all their cars in the event of an accident.