What is Multi Car Insurance?

Glossary - Letter - M

Multi Car Insurance: Definition

A multi car insurance policy is an auto insurance policy that covers multiple vehicles located at the same address. Often insurers offer a multi car discount if all the vehicles located at the same address are insured with the same company.

Multi Car Insurance Policy: Recommendation

Given high car insurance rates in many provinces, and in Ontario in particular, a multi car discount can represent significant savings. For example, if an insurer offers a 15% multi car discount on both car insurance policies and you have two vehicles with quoted insurance premiums of $1,900 and $2,200 per year, your savings from multi car discount will add up to $615 annually. You should definitely consider this discount when searching for a car insurance policy for your household.

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