-J-P-L-

Those of you who own 2 or more cars (under your name only), what is the extra rate on your 2nd car?

I've never owned more than one car at a time but am thinking of keeping my old SC when I get a new car.

Just curious at how insurance rates are figured. If you guys could give a percentage figure of what you pay extra for your 2nd car it would help, thanks.

Och

iTrader: (3)

I think I pay around 3k a year for the GS and around 1200 a year for the LS... but LS only has minimum liability insurance, vs full coverage on the GS.

-J-P-L-

Holy crap! Your paying $4200 a year on insurance! Many people only pay $500 a year (on one car). That's outrageous. How old are you?

darkdream

I pay 4800 a year on one car! T_T

BCP43002

I have 5 cars on my policy. All have full coverage and $250 deductable. I pay less than $1,000 for each for a year. I don't know if you can use this as everyone's situation is different and in different locations.

-J-P-L-

That equals a new car payment.

I pay 1,200 a year right now on one car and thought that was high (I still have speeding tickets on my record).

Have you guys had like a dozen accidents or something?

darkdream

Well the car was paid for upfront so no worries about car payments...

I have only one minor fender bender accident...no tickets or anything

chrisyano

I think it definitely depends on your situation and driving record. I am going to estimate that I get about 25-30% off the second vehicle (compared to what I was quoted for the vehicle's standalone policy).

-J-P-L-

True. Just want to get a general idea of the added rates for mulitiple cars.

I thought it was a lot less than just 25% off though. So many people have more than one car on the road, that's a lot of money.

I don't think I'll be able to keep the SC then.

chrisyano

Do you mean you thought the discount would be a lot more than 25%? If so, you might want to just get a quote for the new car from your insurance company for the sake of having a real number in your head before ditching a car you love. In fact, they will most likely be able to tell you what kind of discount to expect (probably not the sales associate you speak to though).

To be honest, I don't fully remember what I was paying for the first car before adding on the Lexus last year. I do remember being pleasantly surprised when I saw my premiums were lower than expected when I did add it on though.

I do have some rather healthy coverage on both vehicles, if that helps any.

PetesLS400

I pay about $60/month for my '98 GS and my '01 Z06 is a pleasure vehicle so I told my insurance I put about 5K miles on it a year and pay $50/month.

Both cars full coverage with $250 deductible.

Och

iTrader: (3)

29, but thats NYC for you, insurance prices here are outrageous. Pretty good driving record too, mine is clean, and my wife had a minor accident in 2006. However she also recently received a speeding ticket, so when renewal comes, the price will go up even more

-J-P-L-

I'm 29 as well and like I said, I pay $1200 a year for my SC in Mass. I can see though that NYC is considered a high risk area for theft and damage.

Och

iTrader: (3)

Well, I also have two drivers listed on both cars, myself and my wife, so that probably affects the rate as well.

chrisyano

It might. I was able to add on a second driver to my policy with no increase in premium. Again, I'm sure it depends on record, insurance company policy, etc.