Updated: April 10, 2025
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If you have a second vehicle, you can add it to your current insurance policy. Alternatively, you can purchase separate policies.
Insuring two cars can be affordable. However, classic or sports cars can raise per-car premiums.
Multi-car, pay-per-mile insurance, low mileage and bundling discounts can lower premiums for drivers with two or more cars.
One driver can insure multiple cars on a single policy. Adding standard four-door sedans is typically more affordable, while classic or sports cars will likely increase your average annual per-car premium.
If you drive one car more than others, specific policy options are available. Take advantage of discounts and compare quotes from different insurers. MoneyGeek provides an in-depth analysis of multiple-car insurance, discounts and rates.
If you keep multiple cars at your primary residence, you can list them on one policy. Most companies offer a multiple-car discount when you insure a new vehicle. Ask your insurance provider about this or check MoneyGeek's list of companies that offer discounts for one driver insuring two cars.
MoneyGeek's research shows that insuring a second car costs about the same as standard insurance. However, putting two vehicles on one policy typically costs less than insuring them separately or with different providers.
Insurance for your second vehicle costs more if it's an expensive, classic or sports car. These vehicles pose higher risks for insurers, increasing your premium.
The cost to insure a second car depends on your location, vehicle type, driving history and coverage choices.
| GEICO | $1,407 | $2,143 | $736 |
| Nationwide | $1,417 | $2,157 | $740 |
| State Farm | $1,426 | $2,075 | $649 |
| Farmers | $1,460 | $2,821 | $1,361 |
| Progressive | $1,555 | $2,530 | $976 |
| Travelers | $1,656 | $2,321 | $665 |
| Allstate | $1,685 | $2,543 | $857 |
Adding a classic or sports car will raise your average premium for each vehicle. Keep these key details in mind when insuring these specialty vehicles:
For classic cars:
For sports cars:
The multiple-car discount is the best and easiest insurance discount for insuring two or more vehicles. A home and auto bundle discount or pay-per-mile insurance might also help lower costs, especially when your premium is more expensive than expected. MoneyGeek provides brief explanations about each discount type below.
Discount | Description |
|---|---|
Multiple car | Drivers with two or more cars on their policy may qualify for the multi-car discount most insurance companies offer. |
Pay per mile | Pay-per-mile insurance saves money for drivers who rarely use their second car by charging based on mileage. |
Low mileage | Drivers who drive their second vehicle less than 7,500 miles yearly may qualify for a low-mileage discount. This benefits those with a primary car for daily use and a second vehicle for pleasure. |
Bundling | Bundling your auto and home/renters insurance with the same provider is one of the most common ways to reduce costs. |
Drivers can insure two vehicles with separate policies from different insurance companies. While this approach might increase rates, comparing options may help you find affordable coverage.
To estimate premiums before shopping, try MoneyGeek's car insurance quote calculator. It can help determine the best way to insure multiple cars.
You can insure multiple cars by listing them under your name on one policy. You can also buy separate policies, though this may increase rates. This article analyzes how to insure multiple vehicles and available discounts to help you find the right option for your needs and budget.
We answered frequently asked questions below to provide more information about insuring two or more cars for one driver:
One driver can purchase insurance for two cars. When you get one policy that covers both cars, it's known as multiple-car or multi-car insurance, but separate policies for each are an option, too.
If you have two or more vehicles to insure, you can get one policy for both. Just inform your insurance provider. Depending on your situation, you may choose to insure the vehicles separately.
The cost of insuring a second car is similar to buying standard insurance. However, insuring two similar vehicles, like four-door sedans, typically costs less than insuring different types of vehicles, such as a sedan and a classic car. Rates increase if your second vehicle is a sports car.
Why Trust MoneyGeek?
We gathered data from Quadrant Information Services and state insurance departments to determine the average cost of a multi-car insurance policy. We also consulted reputable sources to analyze the pros and cons of getting a multi-car insurance policy versus multiple individual policies.
Study Overview
MoneyGeek gathered and evaluated rates using a sample driver profile to calculate the average insurance costs for multiple policies accurately.
Data Sources and Depth
We examined 766,080 quotes across 900 ZIP codes from 16 companies using information from state insurance departments and Quadrant Information Services.
Driver Profile
We calculated multi-car discounts by finding the price difference for a 40-year-old married couple insuring two Toyota Camrys on the same policy versus the same cars on separate policies. Our driver profile has a clean driving record and a policy with liability limits of 100/300/100 and $1,000 deductibles for comprehensive and collision insurance.
We modified this profile for driver age, location and driving history to discover rates for various driver profiles.
Coverage Levels and Deductibles Explained
A deductible is the amount you pay when filing a claim before the insurance company pays.
Liability insurance covers only damage to other people's property. Full coverage includes comprehensive insurance, which covers damage to your car from events like weather and fire, and collision coverage, which pays for damage to your car from accidents.
The term 100/300/100 means:
Learn more about MoneyGeek's methodology.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty Insurance Producer, is MoneyGeek's resident Personal Finance Expert. With over five years of experience analyzing the insurance market, he conducts original research and creates tailored content for all types of buyers. His insights have been featured in publications like CNBC, NBC News and Mashable.
Fitzpatrick holds a master’s degree in economics and international relations from Johns Hopkins University and a bachelor’s degree from Boston College. He's also a five-time Jeopardy champion!
Passionate about economics and insurance, he aims to promote transparency in financial topics and empower others to make confident money decisions.
