Most auto insurance companies offer family car insurance plans, which are special policies designed to handle all of the drivers in a household. There are usually a few restrictions in place; members of family car insurance plans need to be related while living in the same location at least part time (or depending on the insurance provider, full time). Families who take advantage of these cheap car insurance policies are often surprised to see the tremendous savings that such a plan can provide. In fact, family car insurance policies are one of the best ways to lock in a low per-person car insurance rate, although the overall cost of the policy can seem high at first.
Insurance companies offer cheap car insurance policies for families because more persons on a policy mean a higher profit for the insurance provider. There may also be a link between family policies and lower-than-average car insurance risks. Ultimately, combined family policies can result in a massive reduction in the cost of car insurance, sometimes by as much as 20% per person. This varies greatly depending on the car insurance provider, the individual risk factors of each member of the family car insurance policy, and a variety of other criteria that car insurance companies use when deciding on the cost of a policy.
If you're interested in buying a family car insurance policy, you should first research your options. Use a car insurance quote comparison website and contact a few insurance providers directly to find a cheap car insurance plan. Check the coverage limits and deductibles of every potential policy. Make sure that the coverage will be sufficient enough to cover the costs of an accident, especially if there will be any teen drivers on the plan. Print off a few of the best car insurance quotes that you find. You'll be able to use them to negotiate with your current car insurance company and its competitors for an even lower rate, and you'll also be able to read through them to better understand their advantages and disadvantages.
Buying a family car insurance policy results in much lower costs, but be sure to remember that if any member of your family is involved in an accident, rates will go up. Know how your plan works and the coverage that it provides. A quality car insurance family policy can provide all of the members of your family with low premiums and good insurance coverage. Look into all of your options before you buy and you'll both understand your policy and the discount that you're getting overall for joining all of your household's drivers under the same car insurance plan.