At some point in each of our lives you may find your self looking for car insurance for multiple people. Whether it your wife, child or even another family member, combining policies can actually help you save money.
Car insurance companies such as State Farm, 21st Century insurance and Geico all offer discounts if you add on additional members to your auto insurance policy. You can expect to get anywhere from 5% to 20% off your current monthly payment. So why do car insurance companies offer this deal?
By combining policies, there is a great chance you are bringing over a new customer to your car insurance provider. With this in mind, they offer you and the new customer a discount to ensure you get them another customer. If they can secure a new customer they can essentially double your worth as a customer.
Where you may run into an increase is when you bring on a teenager. Car insurance underwriters often do not give discounts to teenagers as they have the highest risk. You will often find teenagers have the highest premiums around. So if you have a teenager getting ready to get their license, maybe have them contribute to their monthly insurance costs!
The best advice you can take from this post is if you are looking to put multiple drivers on one insurance policy, you should shop around and get multiple quotes from insurance providers. Different companies will offer discounts depending on where you live and how many drivers you have. So keep your options open and find the cheapest car insurance out there!
