How Much Does It Cost to Add a Car to Insurance?

You may be asking how much does it cost to add a car to insurance? The easiest and cheapest way of adding a new car to insurance may be to add it onto your existing insurance policy. This may be preferred option from the administration point of view as well. You may not want to deal with separate policies, renewal dates and insurers.

Adding a car to an existing insurance policy is one of the options available to motorist. However, it depends on your personal circumstances if it is the best option or not. You can read on this further down.

This does not have to be an automobile. It may be possible to add a vehicle to insurance like a truck or even RV with some companies. Depending on where you live it may be possible to add your partner’s car onto your policy or have a joint policy to insure all your vehicles together. Check this with your insurer or broker.

Adding a Car to Insurance vs. Buying a New Policy

Otherwise, you may be able to claim discounts for a separate policy by mentioning that the car is in the household of a current policyholder. Another option may be that you keep separate policies for all your autos. In that case, ask if the insurer can offer you discounts for each policy. Most companies are happy to offer discounts for a second vehicle you insure with them in the same household.

This would be extra helpful when your state requires the vehicle and the insurance documents to be on the same name. Some states may not have any flexibility who can insure a car and it must be the registered keeper. And if you don’t want to own a joint policy insuring cars separately would be the way to go.

In any case, you should always get alternative quotes from other insurers. You can find cheap full coverage auto insurance on the market or from insurers on our quote panel. Just because your current insurer offered you a very good deal on your family sedan doesn’t mean that it will offer a competitive quote for any type of vehicles. You can only know how competitive they are if you compare auto insurance quotes.

As for the price of coverage you are looking for you should read this article titled; what is the cheapest car insurance. It explains the costs of basic coverage and compare it with full coverage.

Reasons for Adding another Car to Insurance Policy

There are many reasons why you may need to add a car onto your policy. This could be a temporary or permanent arrangement. If you want to arrange a temporary car insurance coverage you may have to add it on your coverage until next renewal and cancel later on if you do not need it anymore. Here are some of the reasons why you may need to add a vehicle to insurance policy already in place.

–          Getting married or living with a partner is the most common reason for wanting to add a car to insurance policy.

–          Buying a car for a teenage child is another reason. This may be a lot cheaper option than buying a separate policy for him/her. You may have to own the car to be able to insure in some states. State legislation may not allow you to insure a car that is owned by your daughter/son.

–          Purchasing a truck, RV, classic car will require coverage for them. For example, insuring a classic car by itself may be expensive but adding another car to insurance policy may be reasonably cheap. The insurer will have no problem seeing that you can only drive one of your cars at a time.

–          Insuring a car that is in your care for the moment either by contract or private arrangement.

Points to Consider When Adding a Vehicle to Insurance Policy

–          The required information for adding a car to insurance will be same as the first one. You will need to tell your agent the details of the vehicle, who will drive it and where it will be kept.

–          You do not have to buy the exact coverage as the one already insured. You can buy less or more coverage for the new one. If the first auto is insured fully second one can be insurance liabilities only.

–          It may be possible to insure RVs, camping cars and semi-commercial vehicles. Just ask your agent about the possibilities.

–          In most cases, additional second car insurance cost would be cheaper than having two separate policies. Companies appreciate another piece of business and reduced administration cost of one policy.

–          There are products that may allow you to insure your home, second home, first and second car under one policy. These products can be very economical and you do not need to worry if a loss is covered by home or car insurance.

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