Stiffness of composites with coated inclusions can be determined by a variety of micromechanical methods. The present method approaches the problem by modeling the stiffness of a multi-phase composite with coated inclusions as a combination of stiffness tensors obtained for two-phase models. The potential advantage of the present method is its applicability to arbitrary inclusion geometries and multiple coatings. The numerical analysis conducted on the examples of coated fibers demonstrated a good agreement with available solutions for a low to moderate fiber volume fraction and a thin relatively compliant coating and for a low fiber volume fraction and a relatively thick coating.