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Can siblings get multi-vehicle discount?


Question: My twin daughters live together and have their own cars and separate insurance policies with the same company. Are there any insurance companies that would offer them one auto policy with a multi-car discount?

Answer: Yes, there are car insurance companies that allow people living together to be on the same car insurance policy and obtain a multi-car discount. 

However, car insurance company terms and offerings differ -- such as if a joint policy is allowed for roommates or other non-married couples -- so your twin daughters will need to compare insurance companies to find the one that is right for their needs. 

Joint policy not always offered

There are many insurers that won’t allow your daughters to share a policy unless each is listed on the other person’s title, so that each daughter has an insurable interest in the other’s vehicle. 

Having insurable interest means that one would be affected economically if the vehicle were damaged or totaled out.  The owner, co-owner and lienholder usually have an insurable interest in a vehicle.

I don’t know if your daughters want to put each other’s names on the cars and assume liability for the other’s vehicles in that way.  The benefit of a discount on car insurance may not outweigh the risk in this situation.

There are some car insurance companies that allow roommates, relatives or others who aren’t married but living together to place all household vehicles on the same policy even if they aren’t part owner of each vehicle listed. 

The companies that do allow this should offer your twin daughters a multi-vehicle discount.  Again, to find car insurance carriers in your daughters’ area that provides this will mean they’ll have to comparison shop with multiple auto insurers.

If your daughters are able to find such an insurer, then they should also see if it’s also possible to buy their renters or homeowners insurance with the same company to get a multi-policy discount and bring their rates even lower.

Other discounts to look for

While your daughters can look for a car insurance company that will allow them to share an auto policy and get a multi-car discount, they should keep in mind it’s not the only discount they should be looking for.

There are plenty of other car insurance discounts to ask about and that they each may be able to receive and lower their car insurance rates. With these discounts, your daughters could each receive the discounts on her own policy, a joint policy isn’t necessary.

  • Good student discount - If your twin daughters are in college and get good grades, then they should see if they are eligible for a good student discount. 
  • Alumni association - If they have already graduated, your daughters should see if being a part of an alumni association gets them a discount. Affiliations such as this, or even membership in a sorority, can get drivers discounts with some insurance companies.
  • Education discount – The level of education a driver has completed can lower rates with some car insurance providers.  If your twins have received a bachelor or master’s degree, then it could lower their rates even more.
  • Occupation discount - If your twins are already employed, then depending upon their professions one or both may be eligible for a discount based on their occupation.  Teachers, scientists, first responders, engineers and military members are typically the ones given such a discount.
  • Paying the policy in full – By paying the whole six- or 12-month policy upfront your daughters could get an extra discount and save.
  • Good driver discount - The best way for any driver of any age to keep rates low is by being a good driver.  Having a driving record clean of accidents or tickets typically can get a driver a 10 to 20 percent (or more) discount.  It shows the driver to pose less of a risk to the insurer, and thus the premiums are lowered.
  • Pay-as-you-drive (PAYD) plan –Your daughters may think about signing up with an insurer that monitors their driving behavior and offers a discount off of the results.  If they prove to be really good drivers, the discount can be up to 45 percent.

To find a car insurance company that is a good fit for your twin daughters’ needs, they’ll need to shop around with multiple carriers.  They may find a company that will allow them a joint policy, and that multi-vehicle discount that they want, or find that due to the insurable interest requirement it’s easier to keep their own separate policies and seek out individual discounts to lower their rates.

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