According to Bankrate’s proprietary rate data from Quadrant Information Services, the average cost of a full coverage car insurance policy is $2,014 per year, with minimum coverage averaging $622. These rates reflect a single driver with one vehicle listed on the policy. Married couples with one vehicle typically pay lower premiums, with average annual rates of $1,898 for full coverage and $595 for minimum coverage.
While insuring multiple drivers under the same policy could help you lower your rates, your company may have some stipulations you must meet before this option is available. Bankrate’s insurance editorial team breaks down car insurance for multiple drivers so you can decide if this path is right for you.
It may make financial sense to add drivers to your policy rather than those drivers purchasing a policy of their own.
Your insurance company may require you to add all household members to your policy, even if they don’t drive your vehicle.
Non-household members may not be eligible to be added to your policy unless necessary, such as regularly driving your vehicle, shared vehicle ownership or other insurance company requirements.
Can multiple drivers share a car insurance policy?
Yes, multiple drivers can share a car insurance policy under certain conditions. With most auto insurance companies, you are required to list all household members on your policy if they have a valid driver’s license and access to your vehicle.
Spouses and other household members can share a car insurance policy in many scenarios. In fact, it is usually required by insurance companies to insure all drivers so that the carrier is aware of the household risk while insuring your vehicle. If someone you are not related to lives in your household, you may have to add them as a driver depending on how often