Is there a limit to the number of cars that can be insured under the same policy? How many vehicles can you cover under one policy? Today, we’re answering all your questions about multi-car insurance policies – including how to save money on a multi-car insurance policy.

Multi-Car Insurance Is an Easy Way to Save Money

If you live in a household with multiple vehicles, then it’s in your best interest to insure your cars under one policy (unless, of course, your spouse has a DUI or some other major incident that would cause insurance rates to rise).

That’s why multi-vehicle insurance policies exist. Multi-car insurance policies are built for households with two or more passenger vehicles. These vehicles are covered under a single policy. You pay less than you would if you insured each car individually, and you save even more money by bundling vehicle insurance with your home insurance or life insurance.

The benefits of a multi-car insurance policy are obvious. However, there are certain requirements to qualify for a multi-car insurance policy.

Requirements for a Multi-Car Policy

There’s one obvious requirement for qualifying for a multi-car insurance policy: you need to insure two or more passenger vehicles on the same car insurance policy.

To do that, you’ll need all of the usual information – like the VIN and lienholder information (if applicable) for any vehicles, as well as the driver’s license numbers for all drivers. The information required for a multi-car policy is no different from a single-car policy, aside from the fact that you’re listing multiple vehicles.

Is There a Limit to the Number of Vehicles Under One Policy?

Insurance companies almost always have a limit to the number of cars you can cover under a single insurance policy.

Typically, insurers allow you to cover a maximum of four of five vehicles under a single policy.

Other Restrictions with Multi-Car Insurance Policies

There are certain other restrictions you may need to know about with multi-car insurance policies. Some companies offer a discount only if the insured cars are in the same household and insured by related parties. If you’re living with unrelated roommates, for example, then you may not qualify for a multi-car insurance policy.

Other insurers, however, only require everyone to live at the same address, and they don’t care whether or not you’re related.

Another important thing to note is that you could qualify for a multi-car insurance discount in the middle of your term. Some people instinctively wait for the end of their term to add a new vehicle, when they could be taking advantage of the discount immediately.

Does the Coverage for Each Vehicle Need to Be Identical?

This is where things get a little tricky. Typically, insurance companies require all vehicles under a multi-vehicle policy to have the same amount of liability insurance and uninsured motorist coverage. This is done to ensure there’s no confusion regarding how much liability coverage each vehicle has.

In other words, if you have a liability limit of 100/300/50 on your first vehicle, then you need to have those same limits on your second vehicle.

This isn’t just your insurance company being nitpicky: state laws often require liability limits to be the same for all vehicles under a single policy.

Policyholders, however, are free to adjust collision coverage and comprehensive coverage between vehicles. You might want full coverage on your brand new SUV, for example, while getting rid of collision and comprehensive coverage on your 10+-year-old vehicle.

You can also add, remove, or adjust add-ons however you like – including things like rental car reimbursement or custom car coverage. You’re totally free to add this to certain vehicles under your policy but not others.

There’s one important thing to remember with all this: the insurance company insures your vehicle, not the driver. If your primary vehicle has full coverage, but your secondary vehicle has no collision or comprehensive coverage, then that doesn’t change when someone else drives it.

You Can’t Insure Cars and Motorcycles Under the Same Policy

The only other restriction you need to know about is that motorcycles and cars cannot be covered under the same multi-car insurance policy.  Motorcycles require a motorcycle policy – not an auto policy. However, you may still be eligible for a discount by ordering through the same insurer for both policies.

When you’re getting car insurance quotes, you’re generally asked if you’ve had any accidents or moving violations within the past five years.

But what if you can’t remember the date of a fender bender or completely forgot a speeding ticket?

Your driving record, also called your motor vehicle record, will remind you of all your transgressions and help you find accurate prices when you want to compare car insurance rates.

How to get a copy of your driving record

You can get your driving record from the Department of Motor Vehicles or its equivalent in your state. The DMV might require proof of a valid license and charge a small fee. It’s generally less than $10, but it varies by state and the type of MVR requested.

The length of time it takes to obtain your MVR also varies. In some states you can see your report immediately online, while others require you to visit the DMV or mail in a form. 

Be wary of using third-party vendors that offer “instant” MVRs online. They often charge a much higher fee than the DMV and the information might not be accurate.

What’s in an MVR?

An MVR is a report of all your moving violations — such as speeding tickets — driving convictions and accidents.

It generally includes at least three years of driving history. The number of years insurers are interested in varies by state and company, but an insurer will always pull your record before providing you with a final quote.

Depending on your state, your MVR will likely contain the following information:

• Driver’s license status, including suspensions and revocations
• Driver’s license class
• Restrictions or endorsements on your driver’s license
• Traffic citations
• Vehicular crimes
• Accident reports
• Driving record points, if your state uses a point system

Your MVR could also contain your:

• Age
• Address
• Birthdate
• Gender
• Eye and hair color
• Weight and height

An MVR isn’t technically a public record, but federal regulations allow attorneys, businesses, law enforcement, government agencies and others some access to driving records in all 50 states. For example, a potential employer might request your MVR if driving is part of the job.

Each state decides how an MVR is accessed, guidelines for who can access it and the amount of information released.

Why it’s good to get your driving record

Car insurance companies use your MVR — along with other information — when deciding whether to sell you a policy and how much to charge you. Knowing the dates of accidents or violations allows you to get a more accurate quote upfront.

Obtaining your MVR before buying car insurance also gives you the opportunity to:

• Correct any inaccurate personal information on the report
• Request expungement of some penalty points that could affect your premium if your state allows this

             

Invest in Chevy Maintenance Process

Just because you are driving a Chevy unit doesn’t mean that you can just bypass the necessary processes that keep the car’s performance in optimum shape by not performing the manufacturers required Chevy maintenance. Yes, it is true. General Motors, the makers of Chevy automobiles, is considered one of the world’s best when it comes to manufacturing vehicles. If you own a GM product then you should be happy about it. Probably so but you must take note that this American auto firm is investing millions of dollars in order to sustain the conditions of the unit you’re driving.

Why Chevy Maintenance Process Matters

Before plunging into an approach that involves Chevy maintenance, let’s try to keep matters in perspective. So you bought or probably choose a Chevrolet. Why? Backing your decision on why you purchased or acquired one is vital to how you will be able to keep your unit in tip-top for years to come.

If you think GM made a brand that can survive on its own, think again. In June last year, the organization is leading the auto industry with a 16.9% market share across the United States. While that is good news for Chevy owners, there is one troubling aspect in this scenario. GM is only leading by a percentage that barely reached 20%.

When you say the figure does not matter as long as the company is number one, that makes it all the more disturbing. Here’s why. The dominance is simply not there. When an automaker is solidifying its position in the market, it should be on top with around 40% share. The group should be off and be running. If your argument is the fact that there are numerous competitors on the heels of the Chevy, then justifying GM’s market leadership suddenly sounded thin. It means that other auto manufacturers are fast catching up with

General Motors Maintenance Process

Whatever we discuss here will not change the reality that GM is indeed up to the ladder board. Still, you have to come up with something that supports your decision to get a Chevy. If you tell me that the car is durable, fast and safe then I need to point out that, those things are exactly what Ford, Toyota, Nissan, Chrysler, and Honda have in mind all these years. Then why are not these firms enjoying the lead in the auto market?

The Road Ahead
Perhaps one main point that GM has over the rest is its approach to Chevy maintenance. The US firm has instituted a program to reinforce its after-sales campaign. By the time your Chevy has been hitting the road, the company is already thinking of ways to keep you happy whenever you are behind that steering wheel.
So how does GM keeps its Chevy owners satisfied? The answer is best attributed to the presence of sophisticated tools and platforms that will prolong the life of your unit. Within this context, GM’s service centers are ready to address your concerns just in case you drop by to discuss issues hounding your car.

If you think that this program for Chevy owners is unique, you need to be aware of Ford, Toyota, and the rest’s approach when it comes to keeping their respective clients happy. Each and every automaker in the world today is probably doing almost exactly the same thing GM is adhering to. If they don’t, then they get booted out of the industry. It is that simple.
Since we have somehow justified your option to choose a Chevy, perhaps you need to further reinforce your position when it comes to car handling. Be it known that GM wants every penny you’ve spent on their product to be worth it which is why offering services to upgrade or fix your unit is an immediate priority.

For the Long Haul
Here are some facts that back why Chevy maintenance procedures are helpful to your car. Primarily, General Motors are investing heavily in technology-driven platforms. This does not merely mean that new designs or new materials or new tools are being integrated into their products. The global coverage and partnership with other industries are fast strengthening GM’s presence.

For instance, its affiliation with ride-sharing service firm Lyft is boosting GM’s exposure. What it intends to do is to establish networks way beyond its comfort zone. The organization’s decision to develop autonomous vehicles is also a step in the right direction which is why putting up the right pieces around its units including the Chevy further clarifies things that GM is in for the long run

A recent survey DealerRater conducted for Automotive News looked at the different ways car buyers deal with negative equity on their trade-ins. It found that the majority of consumers deal with this all-too-common situation in the worst possible way. 

Automotive News-DealerRater Survey

The Automotive News informal survey, conducted by DealerRater, looked at the most common actions that buyers take when trading in a car with negative equity ("negative equity" is when your car's value is less than the loan balance).

From May 5th to the 24th of this year, DealerRater interviewed 88,874 consumers who visited a dealership to shop or to have their car serviced. Of those, 46,700 respondents traded in their previous car when they bought or leased their most recent vehicle.

Over one third (37 percent) of those 46,700 respondents said they had negative equity in their trade-in. Here is how those buyers dealt with that situation:

• 54 percent rolled their negative equity into their next loan or lease.
• 21 percent "took some other action" (Automotive News did not specify what these other actions were).
• 19 percent increased the amount of their down payments.
• 6 percent opted to buy or lease a different vehicle than they had originally planned to.

Over half of the buyers polled rolled the debt into their next loan or lease. From a financial point of view, this is disappointing since this is the worst way to deal with this situation. Not only does it make your next loan or lease more expensive, it can put you in a debt spiral that's hard to escape.

Avoid Trading in a Car with Negative Equity at All Costs

Having negative equity is sometimes also referred to as being "underwater" or "upside down." Regardless of the word you use, negative equity is a growing problem with loan amounts rising and loan terms increasing.

Having negative equity isn't typically an issue if you plan to keep your car for a while and/or pay off the loan in full. It only becomes a problem when your vehicle is totaled, stolen, or you want to trade it in halfway through the loan term.

Let's look at an example of why being upside down can present an issue if you want to trade in your car. Say you have a balance of $12,000 left on your auto loan, but the vehicle is only worth $10,000. This means you have $2,000 worth of negative equity—and it isn't going to just disappear. Your options are to either deal with it now or deal with it later.

If you want to trade in your car, rolling the balance over into a new loan means paying on the new vehicle, plus the $2,000 from your last car. This means you're making payments on two cars at once, and your monthly payment and interest charges will be larger, as a result.

Worse yet, it typically means you'll be further upside down in the new loan. Rolling negative equity into a new loan just compounds your problem, which can create a debt cycle that can quickly spiral out of control.

For these reasons, every expert on the subject, including the team here at Auto Credit Express, will tell you that trading in a car with negative equity should always be viewed as a last resort option. This statement rings more true for those dealing with less than perfect credit, especially considering the higher than average interest rates these borrowers face.

Instead, it will be in your best interest to look at these alternatives:

• Cover the negative equity out of pocket.
• Find a new car with a big manufacturer rebate attached. If you don't have the cash to cover the difference out of pocket, this is a good alternative to explore.
• Hold off on trading in your vehicle until you are no longer underwater or you have paid off the loan. Try making larger payments than your minimum amount to take care of this faster.
• Try to sell the car yourself to get more than you would if you were to trade it in.

The Bottom Line

In an ideal world, you would always have equity in your vehicle so you could avoid this situation. Because negative equity is a common issue, however, it's best to figure out a way to avoid trading in a car when you are upside down in your loan. Buyers, especially those dealing with credit issues, should do whatever it takes to avoid this situation.

Another car buying roadblock can be your credit. Having bad credit or no credit can make it difficult to get approved for a car loan. 

We connect car buyers to local special finance dealerships that know how to work with challenging credit situations. Our service is free of charge and obligation, so go ahead and get started by filling out our car loan request form right now.

Buying an auto warranty for a vehicle is risky if you are not aware of the regulations and rules of the warranty. It is smart for vehicle owners to hire a professional car consultant who will help guide them through the buying process of the auto warranty. If the vehicle owner decided to purchase the warranty without any help, they risk for buying a fraudulent warranty is higher.

Fraudulent auto warranties refer to warranties that come with many features and are priced very well. However, the providers of these warranties do not actually provide the services that are mentioned in the warranty. In the used car market, fraudulent warranties are common. Therefore, people who buy used car warranties should be very careful.

As a result of fraudulent auto warranties, the US administration has created a law to protect consumers. This used car warranty law is called the lemon law.

When most people research auto warranties, they mainly look at the price. Everyone is looking to get the best rate possible on an auto warranty. However, though the price may be important, it should not be the deciding factor when you make the final purchase.

When you look into buying a warranty, it is important to ensure that you buy one that is great quality. In order to get the most out of your auto warranty and to make a smart purchase, here are two very important things to take into consideration when you do your research:

First off, consider the price. Price is an important factor when you make any purchase. However, when it comes to warranties, it is important that price is not the only thing that you look at.

Secondly, make sure you research the company thoroughly. Is the company reputable? Is it an established company? Are they visible online? Are their contact details easily and prominently located? And lastly, is the company accredited and does it have a high rating with the Better Business Bureau?

Any car owner can feel at ease about bringing their car to the shop if they purchase a car warranty. Car warranties can lower the cost of maintenance and repairs performed on your car. Here are three things to know about car warranties:

First off, know where the warranty is coming from. Is it coming from an auto manufacturer or an aftermarket auto warranty company? Also, know who is handling your policy.

Second, be sure to completely read through the entire warranty. This way, you will be knowledgeable about what type of coverage you are receiving and how long the warranty will last.

Lastly, know what specific maintenance that you need to have done on your car because there are some car warranties that will only remain valid if this work is done on your car. Also, make sure that you keep all of your car’s maintenance records in the event that there is a claim.

Car warranties will allow you to have peace of mind each time your car goes into the shop for repairs and maintenance. However, it is important for you to know all of the details of your warranty if you want to get the most out of it.

Several factors can lead to a higher auto insurance premium. Insurance companies (insurers) lose money when they cover drivers who get into accidents and make claims, so it’s in their best interest to predict driver risk factors that indicate a higher chance of a claim and charge the driver an increased premium to compensate for the elevated probability of a payout.

Based on this knowledge there are many factors that can lead to increased premiums, but some of the most popular ones include:

Accidents

If you file an accident claim with your insurance company, your premium will increase at its renewal period based on the claim.

Violations

If you are convicted of a moving violation, your premium rate may increase at its renewal period. Your driving history, length of time you’ve been insured with a company and speed you were going when cited can affect whether your rate increases or not.

Moving

Where you live (zip code) influences your rate. If you move to an area with higher theft or accident rates (city versus a rural town for example), your renewal premium could reflect this change.

New Car

A new car is worth more than an older model and will cost more money to replace if it is damaged or stolen, which could result in a spike in your premium rate.

Age And Marital Status

If you’re young, single and without children, you are considered part of a higher risk category than a married person with kids. Besides the fact that a young driver will have less experience on the road than an older driver, it is assumed a single adult may not be as serious about becoming a better driver than a married adult with kids, and that can cause increases in your auto insurance rate.

Commute

If you drive a lot and have a long commute to and from work or use your car for work, your premium rate can be higher because frequent driving leads to more opportunities for accidents to occur.

Many insurers use credit score to determine auto insurance rates, but at Active Insurance we work with companies that don’t use credit history so you’re eligible to receive the best rates from us, even if you don’t have the best credit score.

Car insurance is mandatory for all drivers and how much you pay is determined by several factors. It’s important to contact your insurance company with any questions regarding increased premium rates.

Fast-forward 17 years and there are apps for everything — even your car. Chances are, if an app might make part of your life easier, someone will develop it and plenty of people will use it.

Over the past few years, the concept of the connected car has continued to evolve — and become reality. At this year’s RSA Conference in San Francisco, our anti-malware researchers Victor Chebyshev and Mikhail Kuzin presented research that they conducted on seven popular apps for vehicles.

The apps seem to make users’ lives easier by linking their Android devices to their automobiles, but we have asked: Are we trading security for convenience? And as with many IoT connected devices, the answer is, security needs to become more of a priority for developers and manufacturers.

The primary functions of these apps are to open doors and in many instances start the car. Unfortunately, flaws in the apps could be exploited by attackers:

No protection against application reverse engineering. As a result, malefactors can dig in and find vulnerabilities that give them access to server-side infrastructure or to the car’s multimedia system.
No code integrity check. This allows criminals to incorporate their own code in the app, adding malicious capabilities and replacing the original program with a fake one on user’s device.
No rooting detection techniques. Root rights provide Trojans with almost endless capabilities and leave the app defenseless.
Lack of protection against overlaying techniques. This allows malicious apps to show phishing windows on top of original apps’ windows, tricking users into entering login credentials in windows that send the info to criminals.
Storage of logins and passwords in plain text. Using this weakness, a criminal can steal users’ data relatively easily.

Upon successful exploitation, an attacker can gain control over the car, unlock the doors, turn off the security alarm and, theoretically, even steal the vehicle.

The researchers disclosed their findings to the developers (they did not disclose names of the apps publicly) and also told them that no exploitations had been seen in the wild. A full, detailed report on this can be found over on Securelist, where each of the apps is evaluated.

It’s easy to bury your head in the sand, thinking you won’t be hacked or that this is the stuff of science fiction, but the truth is, ever since its invention, the automobile has been a target for criminals. And if there is a hack to make things easier, just imagine the possibilities.

Another thing to keep in mind is that we’ve already seen vulnerabilities allow smart white-hat hackers to make the jump from “benign vulnerability” to controlling a car. Two of the bigger automotive stories of the past two years was about how Charlie Miller and Chris Valasek took control of a Jeep via vulnerabilities.

Ultimately, personal security and app usage come down to personal preference. Who we share our data with or entrust our convenience to is really up to us. With IoT devices and apps, convenience is too often considered before security.

In closing, Chebyshev notes:

“Applications for connected cars are not ready to withstand malware attacks. We expect that car manufacturer will have to go down the same road that banks have already taken with their applications… After multiple cases of attacks against banking apps, many banks have improved the security of their products.

“Luckily, we have not yet detected any cases of attacks against car applications, which means that car vendors still have time to do things right. How much time they have exactly is unknown. Modern Trojans are very flexible — one day they can act like normal adware, and the next day they can easily download a new configuration, making it possible to target new apps. The attack surface is really vast here.”

One of the most overlooked yet important steps in the car buying process is the paperwork that follows the agreement to buy the car. So, even if you have already successfully negotiated your ideal price with the dealer and figured out your monthly payments, you are not on the clear just yet.

Once the deal is reached, you need to arrange financing, sign sales contracts and register the car. This may sound simple, but the process often takes hours. This is also when the dealer will try to sell you extra features, So, before you head over to the dealer to settle everything, make sure you are prepared.

What You Need to Bring With You

Payment: If you are borrowing from a financial institution, you should bring the cheque to show the dealer that you are pre-approved for a loan. You can also bring a personal cheque or a credit card for the down payment if you are financing through the dealer. Dealers vary when it comes to the kind of payments they accept, so be sure to ask them ahead of time.

Driver’s license: If you are planning to drive the vehicle off the lot, then you will need to show the dealer that you are qualified. You may also need the driver’s license to confirm your identity for your cheque, credit card or other form of payment.

Insurance: Since it is illegal to drive a car in Canada without insurance, you need to show the dealer that you have one. If you know which car you are buying, simply call your preferred insurance company and set up the new insurance policy. Alternatively, you can call your insurance company from the dealership and provide your new vehicle identification number (VIN). The company will then email or fax your insurance credentials to the dealer.

Car Delivery

Once you have everything set up, the next step is to obtain the actual vehicle, which means that you have to wait for the dealer to “deliver” it to you. The process usually takes about an hour, but sometimes it can take longer. Weekends can be particularly lengthy due to the bigger amount of car buyers, so it may be better to finalize your deal on a weekday.

Once you see the vehicle, be sure to inspect it thoroughly in order to check if it is in proper condition and contains all the equipment promised. Also take a look at the gas tank – it should be full.

There is a way to speed up the delivery by asking the dealer to bring the vehicle to your home or workplace. If you do that, you will not have to wait for the car or even finalize your purchase at the dealership. Instead, you will be able to do so from the location where you receive the vehicle.