Insurance for multiple cars vs one car (same total value) Question?

[funlol]

lol. are you trying to brag about the cars you can afford? (nice choices, by the way)

to answer your question, it will almost always cost more to insure two cars more than just one. the reason for this is because liability insurance is the most expensive (coverage for damage that you cause to other people and vehicles).

you can, however, get discounts for insuring your vehicles with the same company. in your example, it might cost you $1000/year to insure *ONLY* your 80k vehicle, but if you insure two of that exact same vehicle with the same company (two 80k cars under the same policy), you might only pay $800/year to insure each one.

it's kind of confusing to explain here, but this article has a good explanation - Insure Multiple Vehicles On The Same Policy And Get Discounts

by the way, with the vehicles you are looking to insure, you better think twice about not getting collision coverage. those things can cost a mint to repair!

[M3 Mitch]

Originally Posted by NSX

I've been thinking about getting a fun car or two in my future, and I was wondering what the difference in insurance cost would be for multiple vehicles vs a single vehicle of the same value).

Assuming I were to just go with comprehensive and liability (no collision insurance), possible options could be:

Option A: 2 40k cars (Used NSX and Used Lotus Elise) total value insured $80k

Option B: 1 80k car (Used '04 Lamborghini Gallardo) total value insured $80k.

I know there are a lot of variables involved, FWIW I'm a 30 y/o with a clean driving record, but also else equal...would Option A or Option B cost more to insure?

Thanks in advance for the help.

Bit off topic but I think Option A would be a more practical and fun setup. Maybe newer Lambos are not this way, but the older ones require a lot of intensive maintenance - I have heard you mostly want to figure $1/mile for maintenance. Even if you DIY, I think the Lambo would require more wrenching. You know all about NSX anyway, buddy of mine has an Elise and has had a very good ownership experience, reliable, fun, what's not to like.

My guess is option A would be cheaper to insure.

Neither option would be, IMHO, a true mistake though.