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5 minute read Published on Oct 3, 2025 by BrokerLink Communications
Car insurance premiums in Canada increased by 12% in 2024 and are expected to continue rising throughout the latter half of 2025. At the same time, car sales across the country rose by 9.4% between January and September 2024 compared to the same period in 2023, suggesting that more people are driving and paying more for their insurance coverage. With increased costs in mind, Canadian motorists are seeking more efficient ways to save money on their auto insurance policies without compromising their level of coverage.
A popular choice among many drivers is multi-vehicle insurance — a coverage solution specifically designed for households with more than one vehicle. Whether you're a family with multiple vehicles, a couple with two separate policies, or a business owner with multiple cars in their fleet, a multi-vehicle policy not only adds convenience to your insurance plan but can also lead to significant savings. To find out more about how multi-vehicle insurance works, how much you can save, and the benefits and drawbacks, keep reading.
Multi-car insurance, or multi-vehicle insurance, is when you purchase insurance for more than one vehicle with the same insurance company. It’s a great move for anyone who owns two or more cars, as it can qualify you for an insurance discount that will lower your overall insurance costs. Who doesn't want to keep more money in their pocket?
Below, we’ll discuss the benefits of multi‑auto insurance policies. Bundling multiple vehicles under one policy can unlock multi‑car discounts and lower your total premium. It also streamlines coverage with a single bill, one renewal date, and simpler claims management:
Insuring multiple cars together can save you money on your overall car insurance. You may save as much as 20% on your overall auto insurance with multi-car insurance, thanks to the multi-vehicle discount. Plus, you can save even more by bundling your home and car insurance together for an even bigger discount.
This can be especially beneficial for families paying $2,000 for each auto insurance policy, potentially saving them hundreds of dollars annually compared to before.
Ensuring all drivers and vehicles are together is convenient at its finest. With multiple vehicles covered under the same car insurance policy, you'll have one policy renewal date to keep track of instead of a renewal date for each respective vehicle. Plus, it can be easier to manage paperwork and file claims with your insurance provider when you have multi-car insurance.
By purchasing a multi-vehicle insurance policy for your cars, you can potentially unlock additional perks, such as long-term customer loyalty discounts, priority support during the claims process, and other savings.
According to a recent survey, 82% of Canadians are satisfied with their car insurance companies, indicating that drivers are generally willing to remain with their current provider.
While the perks that come with multi-car insurance may be appealing, there are some potential drawbacks that you should be aware of before deciding to ditch your existing policy:
Most insurance companies require that all your vehicles be registered to the same address. Therefore, if you have someone living at a different address, you may be out of luck when it comes to qualifying for the multi-car discount.
When it comes to insuring more than one car under the same insurance coverage, each driver's driving record and experience can influence your ability to save money. For example, new drivers or those with multiple infractions on their record will increase the insurance rate for all vehicles listed under the multi-car insurance policy.
Finally, some insurance companies may have restrictions when it comes to the type of vehicles you can add to your multi-vehicle insurance policy, including:
Commercial vehicles.
Motorcycles and RVs.
Classic or antique vehicles.
In these cases, it may be better for the owners to stick with their existing insurance policy. Another example of when adding a second car to insurance may not make sense is if one spouse operates a luxury vehicle, while the other drives a standard SUV, as the insurance provider may increase their rates due to the risk of the luxury vehicle being stolen. In 2023, the total amount of insurance payouts to replace stolen cars in Canada hit a record $1.5 billion. In this case, the married couple should have separate auto insurance.
Although each individual insurance company will set their own eligibility requirements, in general, here's what Canadians can expect:
Typically, most insurers will require that primary and secondary drivers reside at the same address:
Married or common-law partners.
Roommates (may vary between insurance companies).
Families with adult children.
Families with students away at university (may vary between insurance providers).
For drivers to qualify for the multi-vehicle discount, they must:
Have a valid Canadian driver's licence.
Be listed on the multi-vehicle insurance policy.
Have their vehicle information listed under their name or the name of another member of their household living at the same address.
To ensure you're able to purchase your car insurance policy with ease, make sure you have the following information handy:
Vehicle identification number.
Driver's licence number.
Proof of insurance history.
Household address.
Details of prior car insurance, claims, and other violations.
Finding the right insurance company for someone who owns multiple vehicles takes a little more time than it would when you're purchasing basic coverage for a single car. Here's what you need to do:
Collect information for all vehicles and drivers in your household ahead of time. This will enable insurers to accurately assess your risk profile and offer discounts tailored to your customer profile.
Get quotes from more than one insurer. Most of the time, they'll offer different rates and discounts. This will help you find the best coverage available at the best price.
Beyond multi-car insurance discounts, most insurance companies offer discounts for:
Bundling policies like your home and car insurance, or bundling policies like car and motorcycle insurance.
Installing winter tires and security features.
Remaining claims free.
A discount for safe drivers.
Ask whether you qualify for additional savings to bring your costs down even further!
When insuring multiple cars, it's essential to consider the available coverages, including optional options such as collision insurance, comprehensive insurance, and accident forgiveness. Determine the insurance needs for all drivers under your multi-car insurance plan to ensure you have the right plan in place.
Insuring multiple vehicles with the same provider offers numerous benefits that will keep more money in your pocket. To save time and money on your coverage, the experienced brokers are here to help! Contact us directly over the phone or use our online quote tool to get a competitive insurance quote within minutes!
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Yes, as long as the drivers live at the same address.
Yes, you can add a new vehicle or remove an old vehicle at any time.
Yes. All listed drivers under one vehicle policy will influence the total rate. One high-risk driver can increase the premium for everyone on the policy, whereas safe drivers can lower this rate.
If you have any questions, contact one of our local branches.