Depending on where you live, you and your family might need more than one vehicle. Since vehicle insurance is mandatory, you’ll have to get insurance for the second car as well.
If you’re wondering ‘can I insure 2 cars in my name in the UK?’ and how you can do that, read on.
There are two ways to insure 2 cars under the same name:
Insuring 2 cars on one policy can only be done by buying multi car insurance.
This type of insurance allows insuring more than one car, usually up to five, registered at the same address under one policy.
A multi car insurance policy offers everything that you might find in a single-car insurance policy.
One of the benefits of adding a second car to an insurance plan is that you can include different levels of coverage with different excesses on every vehicle listed on the policy.
For instance, you can choose a comprehensive cover for one car and a third party only for the second.
What’s more, when insuring multiple cars under a multi car insurance policy, you’ll get a discount for every vehicle that’s added to the policy.
Each car can also benefit from a different registered driver, meaning you’ll usually be able to apply your own no claims discount on only one of the vehicles listed in the policy.
Multi car policies have one renewal date (usually the date of the last car added to the policy) and one payment date.
This type of policy could also work for:
Typically, people that live at the same address and own more than one vehicle should consider insuring 2 cars under 1 name. Some providers allow adding a second car to one insurance policy even if the vehicles aren’t registered at the same address.
In most cases, a multi car insurance policy is cheaper than two separate car insurance policies because insurers give discounts when insuring two cars on one insurance policy.
However, this doesn’t necessarily mean that insuring a second car with a multi car insurance policy will be cheap. Insurance companies consider many factors when setting premiums, including claim history, age, and driving record, among other things.
For example, if you’re an older and more experienced driver with no claims on your policy, but have a young driver with a bad driving record under your name, then you’ll likely pay higher premiums when you add a second car to your insurance.
In cases like that, it might be cheaper to insure the second car separately.
Even if you get an affordable quote for multi car insurance, it’s a good idea to shop around and compare quotes with other insurance providers before you add a second car to your insurance. Some insurers might offer you a discount on the second vehicle, even with two separate policies, and there are a few that will let you use the same no claims bonus for both.
Although multi car insurance policies already offer discounts, there are some things you can do to reduce the rate of your insurance:
If your family uses more than one vehicle or you simply have two or more cars, then you can either opt for multi car insurance or purchase a separate insurance policy for the second vehicle. In most cases, a multi car insurance policy is cheaper, but you might be able to find a good, separate insurance deal that won’t burn a hole in your pocket.
You can usually add up to five vehicles on a multi car insurance policy. One of the biggest benefits of this insurance is that the insurance company will give you a discount on every car added. The more cars you have on the policy, the higher the discount.
You can be the main driver of more than one vehicle. The main driver is typically the owner.
Insuring 2 cars is possible either with a multi car insurance policy or a separate insurance policy. Insurance companies offer discounts for multi car insurance, making it a great option for families with multiple drivers and people who own several vehicles.
My name is Marija, and I'm a financial writer at DontDisappointMe. Although finance might not be everyone's cup of tea, my 10+ years of working in one of the biggest banks in my country, and my interest in extensive research on everything finance/investment-related, have made me somewhat of an expert in the field (if I do say so myself). No longer having the passion to work in a corporate setting, I decided that I couldn't let all of this knowledge go to waste so I started writing. And, here I am! Today I try to share my knowledge with my audience in the hopes of making this topic as simple and interesting as possible. In my leisure time, I like spending time with my family and travelling to new locations.