The Fixer: multi-car insurance

Have you been left out of pocket due to poor service or sharp practice? Do you have a money problem that won't go away?

It can seem impossible to get a fair result when you are battling a financial issue alone. But never fear! The AOL Money Fixer is here to help.

Dear Fixer,

My twins sons both recently passed their driving tests and have asked for cars for their next birthdays.

They will both be living with us for the next couple of years as they are attending courses nearby.

And as they are still in full-time education, I will be paying for their car insurance, as well as cover for me and my wife. Should I take out a multi-car insurance policy to cover all four cars?

R Wright, Leicester

Dear Mr Wright,

Multi-car insurance policies can generally be taken out for between two and five cars, as long as they are registered at the same address.

The advantages of such policies include that many insurers offer at least 10% off for every car you insure on the same policy, and that there is only one renewal date and annual premium for you to remember.

However, the premium is based on a risk assessment for everyone being covered.

You may therefore be better taking out a multi-car insurance policy for you and your wife and a separate policy or policies for your sons.

The only way to find out for sure is to use a comparison website to get separate quotes for your sons and compare the overall cost with that of a multi-car policy for all of you. I hope that helps.

The Fixer

Whatever your financial problem, write to themoneyfixer@aim.com and The AOL Money Fixer will get on the case.

Getting The Best Car Insurance Rate
Getting The Best Car Insurance Rate