Seven million households in the UK have more than one car. Now there is Multicar, a brand new kind of insurance just for them and the more cars they have the more money they can save.
MultiCar is a new product from Admiral. It is available online
or over the phone. It enables motorists with two or more cars in
their household to cover them on the same policy and as a result get a
discount on their premium.
Each Admiral MultiCar policy can hold up to five cars from any single household; this could be a couple, parents and their children, or even housemates. In fact it doesn’t matter who owns the cars, as long as they are all private and all registered at the same address.
Admiral managing director, Sharon Clarke, said, “A quarter of households in the UK have more than one car, Admiral is offering a way for these households to insure all their cars on one policy.
“MultiCar is unique, it means you can deal with one insurance company, so less phoning round, less dates to remember and less to worry about. On top of this, it also means less money to pay out on car insurance. The more cars that a customer puts on the policy, the more discount we offer.
“Our evidence suggests that motorists living in a household with more than one car are a better risk. We are also able to price our premium far more accurately and competitively when there is more than one car on cover.”
Example One
Charles Nelson is a 45-year-old management consultant, his wife Susan Nelson is a 44-year-old teacher, they live in Ashstead, Surrey. They have four cars, a BMW 645 Ci, a Peugeot 406, and a Renault Megane which Charles and Susan drive and a Peugeot 206, which their two sons, 20-year-old Paul and 18-year-old Mark drive. He saved over £400 by insuring them all through Admiral MultiCar. He thinks it is a great idea: “I like the simplicity of it, having done it once it will make renewing next year much easier.”
Example Two
John Edwards is 57, retired and lives in Romford, Essex with his wife, Valerie. They have three cars, a BMW 330i Sport, BMW Z3 and Jaguar X Type. John previously insured the cars with two different companies for he and his wife to drive. With Multicar, Mr Edwards saved around £280. He was delighted with the service: “I think the idea is brilliant, I’ve been looking for something like this for years. I’ve already recommended it to a friend.”
So how does MultiCar work? A household with up to five cars registered at the same address can insure those cars on an Admiral MultiCar policy; this includes anyone with more than one car. Once the policy is in force, all the cars are on cover, and then Admiral will unite renewal date of both cars.
For example, if two cars are set up on a MultiCar policy on 29th January, but one of the cars isn’t due to renew on its current policy until 10th June it will join the policy on this date. Both cars will then renew on 29th January the following year. Also, at the renewal date, assuming no claims have been made, each car owner will have earned one year NCB, as long as they’ve been on cover for three months or more.
The premium on a MultiCar policy is calculated according to each individual motorist on the policy, and each person keeps his or her own No Claims Bonus. If a motorist on the policy has to make a claim then only that person’s No Claims Bonus will be affected.
Admiral MultiCar policies are available on 0800 600 880 or on www.admiral.com.
Issue date: 27-01-06
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