How to save money with Multi-Car insurance policy


The main reason car insurance is so important it is because it allows you to protect yourself in the event of a car accident.

And nowadays, it’s becoming more and more common for people to own multiple cars. Still, with the rising cost of living, petrol and car maintenance, expenses can be seriously daunting.

That is why you have to look for the best price for your car insurance while saving some money.

Fortunately many insurance companies now offer families that own more than one car a multi-car insurance policy which provides a simpler, more secure cover.


Multi-Car discount insurance policy is a way of insuring all of your cars with one insurer. To qualify for it you just need to have more than one car at your address even if they are not registered in your name. Typically, a multi-car policy will cover between two and five cars.

Having a single policy can make handling your car insurance a lot simpler, and in some cases can save you some money as well. It can also cover a range of different types of vehicles depending on the rules of the insurance company.

Insurance rates can vary significantly between companies, and shopping around allows you to locate savings.  And with so many insurance companies offering multi-car insurance policy, how do you know which is the right one for you?

I checked out King Price Insurance. The reason being that it is the only insurer that offers insurance that decreases monthly in line with the depreciating value of your car! So I wanted to see if they have any multi car insurance policy.

And they do. When you insure 2+ cars with King Price, they discount your car premiums which still decrease monthly! And you can also insure some of your favourite things for just R1 every month!

On their excess, you can choose the excess that best suits your budget! This how this works: if you choose a lower excess then your monthly premium will increase, but choosing a higher excess will reduce your monthly premium.

They also have a Multi Car Discount and here is how it works:

1 Car = Super cheap insurance
2 Cars = 10 % Discount
3 Cars = 15 % Discount
4 Cars = 20 % Discount

And, your discounted premiums still decreases monthly.

Now there is a difference between a multi-car discount and a multi-car policy.  A multi-car policy is actually one single policy on which you are insuring more than one car. A multi-car discount on the other hand is simply a % off that an insurance company gives you for having more than one car insurance policy in place with the same company.

You can make significant discounts on both.

Drawbacks of Multi-Car insurance policy 

If you have many cars within your household, there’s a good chance that each vehicle will have a different renewal date. However, with a multi-car insurance policy, an insurer will normally offer to bring the renewal dates into line under the one policy.

While this makes things easier in one respect, you should bear in mind that once all the cars' renewal dates are the same, the household will face a large once-off insurance bill at the same time every year. And with inflation continuously going up, this could require a bit of smart budgeting from your side.

If you find yourself paying too much for car insurance every month, there are a few things you can do to lower your premium.
  • Avoid tickets and claims by practicing safe driving. If you don't your insurance company considers you to be a higher-risk driver. 
  • Buy a car that’s affordable to insure. Buying a sports car won't save you any money on car insurance, but buying a small car might.
  • Remove unnecessary coverage to help you save money on your car insurance cost.
  • Improve security. If your car is fitted with an alarm or immobiliser, it will be harder to steal. This should in turn lead to cheaper car insurance.
  • Choose carefully when it comes to letting others drive your vehicle. When you lend out your vehicle, you are also lending out your insurance. Be careful about others driving your vehicle - if they have an at-fault accident, your insurance payments will likely be affected. 
How you save, and how much you save, depends on several things, including family size and income. All you need to do is your homework to see if there is an opportunity to save money.