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How To Add a Car To Your Insurance Policy

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Jamie Smith
June 3, 2020

Is now a good time to put an additional vehicle on your car insurance policy? You can insure multiple cars on a single policy, and yes, it might even save you money as a result of new discounts earned.

If you’ve been thinking of ways to save money on your car insurance, you’re not alone. While many insurers are giving refunds to customers to account for reduced driving during the coronavirus pandemic, many customers are looking to lower their insurance bill even more. 

According to a LexisNexis survey on auto insurance trends, consumer shopping has been on the rise. The shopping growth rate in the first quarter of 2020 was 5.3%, a 2.5x increase over the same period in 2019.

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What information do you need to insure another car?

Before you can add a vehicle to your insurance policy, gather the following specific information related to the vehicle.

  • Make, model, and year of your vehicle
  • License plate number
  • Vehicle identification number (VIN)
  • Odometer/mileage reading for the vehicle
  • Your current insurance policy number

Adding a car to your existing policy

Once you have all the information you need, get in touch with an agent to let them know you want to make a change to your current policy. Some of the major companies, such as GEICO, Allstate, or State Farm, allow you to quickly add new vehicles to your car insurance policy by calling them, logging into an online account or their mobile app.

Some insurance companies may  tack on an additional fee to insure multiple vehicles or put a cap on the number of vehicles you can have on your policy. Discuss with your agent whether you need to start a new policy or make adjustments to your current policy to ensure you’re getting the most savings.

What insurance coverage do you need?

To drive legally, you need to insure each of the vehicles on the policy with the state-required minimum coverage requirements. Your auto insurer may require each vehicle to carry the same amount of liability, but other coverage like comprehensive and collision can be set differently. 

Can I save money when insuring multiple vehicles?

Adding a car to your insurance policy could actually save you money in some instances. If a lower premium is your goal, ask your insurer about these discounts. 

Multi-vehicle discount – The industry average is a 10% discount for vehicles bundled together.

Homeowners and auto bundle – If you also own a home or condo, ask your insurer if you can bundle all of your insurance needs together.

Brand loyalty or safe driver discounts – Companies such as Progressive offer loyalty programs for accident-free members, so adding a new vehicle to your existing policy could drastically reduce your premiums.

Student drivers discounts – If you're adding a vehicle to your policy because of a teen starting to drive, ask about a student driver discount.

Hybrid or alternative fuel discounts – Adding a green car to your policy? Certain insurance companies offer a discount for environment-friendly vehicles.

Anti-theft devices – Most insurers give a significant discount for car models that feature theft alarms, or other safety devices.

Low-mileage discount – You can save a ton of money on your insurance policy if you drive fewer than 15,000 miles per year.

If none of these discounts make a significant difference in saving you money, you could also try improving your credit score or increasing your deductible.

>>Looking for more savings? 21 types of auto insurance discounts worth asking for

Can you add a friend or relative to your policy?

If you are insuring multiple vehicles on your policy, you may also be wondering about adding additional drivers. You can add coverage for another person, but they must live at your current address or share living expenses. For example, you can easily add a spouse or child to your policy

Which car insurance company is the best?

When looking for auto insurance, there’s more to a good insurer than price. While getting a fair rate is important, it’s important that you’re getting the right coverage and benefits you need. Using a personal shopper like Squeeze can make the process easier. They have experienced agents that make sure you’re not underinsured or overinsured. 

In addition to price, consider the company's credit and reputation for customer service as well as how they handle claims. Taking everything into consideration will mean you get the insurance you need for all of your vehicles.