People who own many cars: how do you insure them?

[bcar240]

How do you do it so it is affordable? Is there some sort of secret or special policy coverage or something you can get? Maybe based on the fact that you own way more vehicles than drivers and all your vehicles won't be driven at the same time. I have a policy with only myself (over 25) as a driver and I have 3 vehicles (all cars old enough to have basically bottomed out in premiums, i.e. they're not going to get any cheaper) and am paying basically for the minimum liability and comprehensive I can get (only liability on one car) and the combined cost is very significant, to say the least. I have a good insurance record and my rates are actually quite low, it is just that I am paying the rate three times over (I do get a small multi-vehicle discount). I can't imagine being able to add even one more vehicle, I don't know how someone would be able to afford owning like 8 cars or something and keep them insured.

[FlipCoupe]

If you own 8 cars and cant afford insurance then you shouldnt own 8 cars.

[bcar240]

That was a bit of a hypothetical situation, I was just curious if there was some sort of "collector" plan for someone who had a relatively large number of vehicles. I am aware of recreational vehicle and limited mileage plans, but those only saved like $50 when I compared rates. If the answer is that you just pay out the @ss to own several cars then so be it, I just didn't want to be throwing money away.

[lovehateRBrelations]

That was a bit of a hypothetical situation, I was just curious if there was some sort of "collector" plan for someone who had a relatively large number of vehicles. I am aware of recreational vehicle and limited mileage plans, but those only saved like $50 when I compared rates. If the answer is that you just pay out the @ss to own several cars then so be it, I just didn't want to be throwing money away.

you might be able to shop around to different insurance companies, if you comfortable leaving your current. It may give your current company a little incentive to work with you. But just do some online research and call a few different places to get quotes. . .then take all the intel you got. and use it to negotiate with. I guess there really is no secret to getting good rates, but if you push a lil these companies are usually pretty motivated to keep your business, or earn your business. I think being proactive and pushy will yeild you good results.

[DaniMike]

If you have multiple cars, and say only drive certain ones during thesummer or only on the weekends there are ways to insure them for less by only insuring them for the weekends and such. I'm sure not all insurance companies do this, but I've seen it done many times.

[bcar240]

Yeah, I am pretty sure it will take a bit of footwork and being willing to jump companies to get the best rates. If I get another car I will have to really look into that. I am getting an ok multi-line discount due to having renter's insurance with the same place right now, so I am doing all right. I have one of three registered as a recreational vehicle with limited mileage, but I couldn't make that commitment for the others as they are my DD and beater pickup. Seems like there are all sorts of funky things you can do with insurance if you look for the right company. My friend just today was talking about insuring a near-mint classic car and was saying he was getting some sort of agreed value policy where they insure the car to be worth at least a certain amount based on condition, rarity, etc. not just blue book.

[zer0c123]

I recently insured 2 cars, which was 93 240sx and '13 wrx. I got quotes from multiple conpanys and the rates were all over the place. I got a good deal with Geico, but I know they just gave me a low rate to get me to sign up. Therefore, in a few years the rate will get inflated. If you've been with your current insurance carrier for awhile, then it might be time to shop around.

[DaniMike]

Tell your current insurer you are shoping around and want a better rate from them or you will have to go to another provider. They may be willing to try to keep you.

[Stev0n]

To give you an idea, I'm 27 & single. I have no tickets & one wreck in the last 6 years (hit an animal on the harley & covered under comprehensive) I own an 08 harley, 96 gmc safari, 95 cavalier, & my 240. 240 isn't insured.
I have a diamond membership with progressive & get several discounts.

08 harley - full coverage for $23k - $47/month
96 safari - liability - $42/month
95 cavalier - liability - $37/month

[charat]

for people who own a lot of vehicles, there are actually plans that cover as a collective whole. most insurance companies have these but you need to ask about it specifically. my friend's dad owns 12 cars and he is on this plan that basically insures all his cars. of course this comes at a premium but what his plan basically does is that it covers the car that he is driving at the time. its hard to explain and i don't know much about it. but i know thats its possible. he also owns a boat and helicopter under the same umbrella. its like life insurance but for all the vehicles you own.

[OutToWinPAHC]

I carry a collectors policy on my cars which is now 3 cars, but there are limitiations of use. My daily is a company vehicle so I'm lucky

[breadbox]

In VA uninsured motorists fee $500 a year.

Or also in VA You can just buy car covers for all of the vehicles you don't use and insure the ones you do.

Elsewhere IDK.

Also not even sure how it works out here, but I paid $137 for 2 year reg and my wife paid $119 for 2 year and I drive an 84 720 pickup and she drives a 09 VW Tiguan so I don't know know how car values trickle down to the DMV but according to them my Truck is money.

[Lobo240sx]

Also not even sure how it works out here, but I paid $137 for 2 year reg and my wife paid $119 for 2 year and I drive an 84 720 pickup and she drives a 09 VW Tiguan so I don't know know how car values trickle down to the DMV but according to them my Truck is money.

That is because your Truck is a 4x4.

[breadbox]

Really? that's lame.