Motor vehicles are a necessary part of our lifestyle. Motor vehicles are an essential part of our lifestyle. In this day and age, we all own at least one vehicle, if not more. So it is a given that one needs to take care of the vehicles with a motor insurance policy. But if one owns multiple vehicles, whether a two-wheeler or a four-wheeler, it can surely become a hassle to manage several insurance policies at once and keep track of them.

That’s why one commonly asked question about motor insurance is whether one can insure multiple vehicles under one insurance policy. The short answer is, yes, you can, through multi-vehicle insurance! Let’s explore it in detail –

What is a multi-vehicle policy? 

As the name suggests, a multi-vehicle policy is a single insurance plan providing coverage for many vehicles simultaneously. It covers all private vehicles (whether four-wheeler or two-wheeler) registered under a single owner- up to five vehicles. This type of insurance makes it easy to keep track of multiple motor insurance policies’ renewal dates and removes the hassle of paying various premiums.

What is included under multi-vehicle policy cover? 

This multi-vehicle policy includes coverage for the following –

Own damage cover: Damages to your vehicle due to an accident, fire, electrical component failure, improper handling during transit, or even natural disasters like cyclones, floods, earthquakes, and human-made calamities are included.

Comprehensive coverage: A comprehensive cover under multi-vehicle insurance includes third-party and own damage cover. Akin to comprehensive insurance policies, this policy covers the damages to your vehicle along with third-party injury and property damage.

No-claim bonus: No-claim benefits are another advantage of a multi-vehicle policy. Making no insurance claims gives you these benefits that can be availed at the renewal date. Moreover, these benefits are also available when switching between insurers.

What is excluded from the multi-vehicle policy cover?

Although this policy provides coverage to multiple vehicles at once, it has certain limitations regarding its scope. Here is a list of its exclusions –

• Any repair or replacement required for the spares is excluded.
• There is no coverage for the depreciation of your vehicle.
• Mechanical or electrical damages are not included in the policy cover.
• Any other situation where the vehicle is not driven as per its intended use is excluded from the policy cover.

Note that a multi-vehicle policy is not offered for commercial vehicle insurance and is limited only to private vehicles.

What are the benefits of multi-vehicle policy coverage? 

• Simplified process – It is easy to purchase a multi-vehicle insurance cover. There is minimal documentation process, and one does not need to keep account of several insurance premiums like individual policies. Moreover, you can also get this vehicle insurance online through smartphone apps.
• Flexibility – This type of insurance cover is flexible. One is free to add or delete vehicles through online means and even switch off/on a particular vehicle’s coverage as required. And what’s more, even when you switch off protection for a car, you will still have 24/7 coverage against damage or theft.
• Discounted pricing – Lower pricing is one of the best advantages of a multi-vehicle insurance plan. When you get multiple vehicles insured under the same policy, you receive a great discount for having a long-term association.

So, if you own more than one vehicle, choose the smarter way using a motor insurance calculator and get a multi-vehicle insurance policy for yourself. You will save both time and money!