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Multi-car insurance

A multi-vehicle car insurance policy lets you insure all your cars together and could save you hundreds per year in the process.

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It's quite common for one household to have multiple vehicles, so why not insure them all together and reduce your premiums and your paperwork?

Some insurers will give you up to 15% off if you insure your cars together and will even offer additional discounts on their other products like home insurance.

Brands that offer multi-car insurance discounts

Here are a few brands that offer multi-car insurance discounts and how much they'll knock off your policy if you insure more than one car with them.

BrandDiscountNumber of vehicles to be eligible

GIO

10%3 or more
Suncorp logo new

Suncorp

15%3 or more
RACQ

RACQ

5%3 or more

RACV

10%2 or more

SGIC

5-15% 2 or more

RAA

10%3 or more
anz logo

ANZ

10-12.5% 2 or more

Don't forget to check your other discount options

Getting 15% off is great and all, but it doesn't mean much if that insurer's base rate is more than 15% higher than their competitors.

Here are a few other options to explore. Although they don't offer a multi-car discount, they do offer discounts of their own. You may end up saving in the long run.

Comparing car insurance will not only make sure that you get the right price, but also, that you get the right product.

BrandDiscount

Budget Direct

  • 15% off for buying online
Get Quote

Picture not described

Australian Seniors

  • 10% off for buying online
  • 5% for excluding under 25 drivers
  • 5% for Australian Seniors cardholders
More info

Virgin Money

  • 15% off for buying online
  • No claims bonus (comprehensive only)
Get Quote

Real Insurance

  • 10% off for buying online
Get Quote

What is a multi-car insurance policy?

Multi-vehicle car insurance refers to insuring more than one vehicle under the same policy and merging the payments. This comes with two major benefits:

  • You may get a discount
  • It reduces the paperwork

In most cases, you can customise each car's cover, meaning that you can get stronger cover for your new Mercedes and something a little more basic for your kid's beater.

Who can get multi-car insurance?

You're eligible for multi-car insurance as long as you are listed as a driver for each of the cars you're insuring. So if you are insuring both your car and your wife's car, you'll need to list yourself as a secondary driver of her vehicle as well as the primary driver of your own.

In many cases, you can help your child save some money on their insurance even if they don't live with you. Just make sure you list yourself as a secondary driver on their vehicle and not the primary driver, because that would be illegal.

A multi-car policy is perfect for:

  • Individuals who have more than one vehicle, like a 4-wheel drive for recreation and a sedan for everyday commuting.
  • Families who have more than one vehicle, such as a minivan to lug the kids around and a hatchback for trips around town.
  • Couples where each partner owns their own vehicle.
  • Empty nesters who want to help their children save on insurance.

How much can you save by adding your cars to the same policy?

Most insurers will allow you to cover between two and five vehicles on a multi-car policy and will offer anywhere from 5% to 15% off.

The cost of insurance varies based on your age, gender, location, driving history and a host of other factors. However, Finder ran some tests to find out how much various insurers would charge a hypothetical Sydney-based driver with a good driving record. The average yearly cost to insure one 2016 Ford Falcon was $987.12.*

Insuring three of this same car separately would cost $2,961 per year. A 15% discount for bundling them together would save you almost $450 per year.

If you're in a household with more cars, luxury cars, younger drivers or drivers with spotty driving histories, you could end up saving even more. Just make sure you shop around and compare your options. A 15% discount doesn't mean as much if the insurer's standard premiums are high to begin with.

What's the downside of multi-car insurance?

There's not much downside to getting a multi-car policy, assuming you would have insured each car separately anyway.

Even though they're on the same policy, each car will still be treated separately and the cost to insure each one will be based on what kind of car it is, who's driving it, where you live and what level of cover you've chosen for that vehicle. It's not based on what other cars are covered on the policy or who's driving those.

For example, let's say you're insuring your brand new BMW X2 in addition to your 21-year-old son's 2010 second-hand Corolla. The cost to insure the BMW won't increase just because there's a 21-year old in the home driving a different car.

It will increase if you list him as a nominated driver of the BMW but you're not required to do that. Just don't let him drive it or you could be stuck with additional penalties.

Is it a good idea to insure your child's car?

As the example above illustrates, there's no drawback to insuring your child's car under a multi-car policy if you would have insured the car anyway. However, there are some cases where you can save some money by leaving your child's car parked and not insuring it.

If your daughter is a learner and she has her own car, the cost to insure it will be sky high. And if she's the one who will be driving it the most, it would be illegal to list yourself as the main driver.

Luckily the insurance you have on your car will most likely cover learner drivers automatically and without the need to list them on your policy. That means letting your daughter drive your car won't raise your rates (although you may owe a bit extra in excess if she crashes).

In this case, you're better off leaving her car parked and waiting until she's off her L-plates to add her car to your policy.

Once she's off her L-plates, you'll have to list her as a secondary driver for your car or add her car to the policy and make her the main driver. The second option will probably cost more, so you'll have to weigh that against her need for independence.

Are there any other discounts available?

You might be able to bring your costs even lower by stacking other discounts on top of your multi-car discount. Here are some other ways to save:

  • No-claims bonus. Some insurers will give you a driver rating that improves every year that you don't make a claim. As your rating increases, so do your discounts. However, once you do make certain claims, your rating will go back down and your discounts will too.
  • Multi-policy discounts. Some insurers will offer you a discount if you take out a different type of insurance alongside your car insurance. This can include home insurance, life insurance, travel insurance or health insurance. For example, Youi offers a massive 20% discount on contents insurance if you have car insurance with them.
  • Loyalty discounts. Some insurers will apply discounts if you've been with them for a long time. For example, NRMA will give you a 5% discount if you've had the same policy with them for at least three years. It increases the longer you stay and the more products you have with them.
  • Safety discounts. Safe driving means less risk for the insurer, and many insurers will reward you for that. You might be able to score discounts for parking in a garage, installing a car alarm and even taking driver safety courses.

Get comprehensive car insurance here

Name Product Roadside Assistance Accidental Damage Storm Choice of Repairer Agreed or Market Value
Budget Direct Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: Awarded the 2019 Finder Award for the Best Value Car Insurance, this policy offers solid coverage at a low cost. Budget Direct’s claims service has received a 4.2/5 based on nearly 5,000 customer reviews.

Who it might be good for: People who want a comprehensive policy without breaking the bank.
Bingle Comprehensive
Market
Finder's summary: Bingle consistently come up as one of the cheaper insurers out there. They only cover the basics, so you don't get to choose your own repairer, you're not covered for personal items in the car and you won't get a hire car if your car is stolen. But this keeps their premiums low.

Who it might be good for: Someone who wants a low cost option that covers them for the basics.
Youi Comprehensive
Optional
Agreed or Market
Finder's summary: Youi Comprehensive Car Insurance is one of the few providers to include roadside assistance in their policy. You'll also get access to YouiRewards which gives you discounts on furniture, parking and more. Youi also have a live chat feature on their site to talk through any questions.

Who it might be good for: People over 25 who want comprehensive cover with a focus on customer service.
Woolworths Comprehensive
Optional
Agreed or Market
Finder's summary: Woolworths catch our eye due to some unique perks like a price beat guarantee, where they'll beat any current comparable Comprehensive renewal notice if you're over 25. You'll also get 10% off your grocery shop once a month, and can add roadside assistance onto your policy for just $7.35 per month.

Who it might be good for: Woolworths shoppers and those that want to take advantage of their Price Beat.
Virgin Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: Finalists for the 2019 Finder Awards for Best Value Car Insurance, Virgin Comprehensive provides a good level of cover for a decent price. You'll get 15% off on your first year’s premium when you buy online and get access to their hail hero service. Plus, get a $100 e-Gift card when you purchase a new policy by 30 November 2020 (T&Cs apply).

Who it might be good for: People who want a comprehensive policy that's affordable.
Qantas Comprehensive
Optional
Optional
Agreed or Market
Finder's summary: You'll be able to pick and choose how comprehensive you want your cover to be thanks to optional extras like roadside assistance, choice of your own repairer, and the option of agreed or market value. Plus, you'll earn Qantas Points when you join and get access to the Qantas Wellness App.

Who it might be good for: People who love collecting frequent flyer points.
Poncho Comprehensive
Agreed
Finder's summary: Poncho works like a monthly subscription - you pay monthly and can cancel and leave at anytime. You can also list multiple cars and drivers under one policy, making it ideal for families and groups living together under one household.

Who it might be good for: People who want their car insurance month-to-month.
Coles Comprehensive
Optional
Agreed or Market
Finder's summary: Coles have two-tiers of comprehensive car insurance to choose from. You'll earn double flybuys points at Coles supermarkets and you can get $10 off your Coles grocery bill every time you redeem 2,000 Flybuys points. If you're over 30, you can get roadside assistance free for a year.

Who it might be good for: Coles customers and Flybuys collectors.
Real Comprehensive
Optional
Agreed or Market
Finder's summary: Real Comprehensive Car Insurance provides similar coverage to other insurers for the important stuff like looking after your car if it's stolen or you crash. They're also one of the few insurers who offer a Pay As You Drive policy, so you might be able to save big if you don't drive much.

Who it might be good for: Those that don't drive much can take advantage of their Pay As You Drive policy.
Stella Comprehensive
Optional
Agreed or Market
Finder's summary: Stella’s a female-focused insurer. They'll cover you if your car is damaged as a result of domestic violence. They offer higher cover for baby gear than most, with up to $2,000 cover for prams, strollers and child seats. You get a free Bauer magazine subscription when you sign up and a portion of your premiums go to supporting female-led businesses.

Who it might be good for: Someone who wants a female-centred car insurance policy (they'll cover men too!).
Kogan Comprehensive
Optional
Agreed or Market
Finder's summary: Kogan comes with all the perks that most comprehensive car insurance policies include but you'll also be entitled to some benefits on their online store. This usually comes in the form of a gift voucher or discount if you buy online. Plus, Kogan offer a pay as you drive option, which could be good if you're not on the road that much.

Who it might be good for: Kogan shoppers and those that don't drive much.
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*Brands may differ in benefits so always read the product disclosure statement (PDS) to see what suits you best.

Picture: Unsplash

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