Disadvantages
- One Renewal Date: A single premium due date is good for remembering when to pay, but with a multi-car insurance policy this can be a bit daunting too. The reason is that premium payments for these policies are significantly larger and can be taxing, especially if you are used to spreading out payments evenly over different policies.
- Driver Coverage: If the driver of the car is classified as high risk, then the premium for the plan will be hiked. Therefore, it is important to take the driving habits and history of all the named drivers, as well as the main driver, into consideration before choosing this plan. Any information withheld can lead to complications or denial of payout altogether.
Related Article:
Different Types of Car Insurance Coverage
How Does Car Insurance Premium Get Calculated?