If you have several cars in your household, then you can reduce your auto coverage rates by having a multi-car policy rather than having an individual policy for each car. However, reducing the number of cars in your household will drive your rates down even further. Here are some of the measures that can help you own fewer cars and manage your auto coverage rates:
Recheck If Each of You Really Need a Car
If you are a big household and each of you drives their own car, then you probably own more cars than you need. Analyze your lifestyle to see if you can dispose of some of the cars and share the rest. For example, the kids can share one car, especially if they don't use it to go to school every day or if they go to the same school. If a member of the household works from home, they may not need a designated car; instead, they can use any free car when they want to drive somewhere.
Take Advantage of Public Transportation
If you can move or were planning to move, you can take advantage of the situation to choose a location where most of you can take advantage of public transportation. In most cases, urban areas are more conducive to public transportation as compared to suburbs or rural areas. For example, you can live near a bus line or train station so that you can go to and from work without using your car.
Make Sure You Only Have Cars You Use
It's a waste of money to continue insuring a car that you no longer drive. Therefore, analyze your car usage to ensure that you only keep the actual number of cars you need. For example, if one of you has bought a new car, they should get rid of their old one that is now just sitting in the garage. What's more, the car isn't doing anything for you if you are not driving it, and it will lose its value due to depreciation; getting rid of the car is the best course of action.
Take Advantage of Ride Sharing Programs
Ridesharing programs are growing by leaps and bounds. These programs allow you to share rides with other passengers so that you only pay a fraction of the overall cost. It might be difficult or impossible to rely on them for all your transportation needs. However, if you have a few cars that you share, you can use these ride-sharing programs as a backup plan in case all the cars are in use and you want a ride.
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