Here's why:
* More Vehicles, More Risk: Insurance companies see more vehicles as a higher risk of accidents and claims.
* Increased Coverage Costs: Each additional vehicle requires coverage, adding to the total cost of your policy.
* Multi-Car Discounts (But Not Always): Some insurers offer discounts if you insure multiple vehicles with them, but these discounts are often offset by the increased risk and coverage costs.
However, there are exceptions:
* Shared Vehicles: If you share ownership of a vehicle with someone else, they may already be listed on your insurance policy, so adding it might not increase your premiums.
* Low-Risk Vehicles: Adding a vehicle with a low safety risk and a good safety record might result in a small decrease in your premium.
* Specific Discounts: Some insurers may offer discounts based on the type of vehicles you add (e.g., a classic car).
To know for sure how adding a vehicle will affect your insurance, contact your insurance agent. They can give you a personalized quote and explain the factors affecting your premiums.
