If you have a clear interest you can buy policies with anyone you like regardless of them living with you or not. For example, you can purchase joint auto insurance for unmarried couples. However, there are a few points to consider before making such decisions as discussed below.
Buying a vehicle insurance policy jointly with another person would have benefits and responsibilities. To start with you would both be responsible for the payment of the premium like getting any loan. Some families or partners like to own and insure everything on their names together. This may work out cheaper, especially when you buy a multi-car policy.
Nonetheless, there can be downside to these strategies when one of the drivers is prone to accidents. The whole package can cost a lot more than buying them separately.
Married or cohabiting people are normally considered lower risk. They commit to each other and likely to have or start a family that they are expected to avoid risky behaviours for the sake of the family. Most companies offer joint coverage for those people at lower costs. Some of them can offer discounts for just being married and/or bringing your partner over to them.
You can probably get a cheap joint car insurance when all the drivers involved are careful and stay out of trouble. Furthermore, it can work well for families who take responsibility for all the bills together. When partners still like to keep their own affairs it may cause arguments. Equally, when one of them is prone to accidents he/she can keep pushing up the costs for everyone else. These problems can exist at the start or can come out once one of the policyholders causes an accident.
When May Separate Policies Be Better?
It is not accurate to assume that joint automobile insurance will always be cheaper. For example, one partner may have a great driving history and entitled to a low premium. On the other hand, the other partner may have a suspect record and get high rates. Most of them will weigh the risky driver heavily in calculations. Therefore, the total could be more expensive than what two separate policies would cost. In such cases, you cannot go for it for the sake of having one package. Besides, this could lead to arguments as to who would pay what part of the premium.
The way each calculates quotes can play a critical role as well. For example, when you have joint coverage with several cars and drivers one company could consider that the dangerous one will have access to more than one vehicle. This thinking would lead to expensive prices for everyone.
The solution could be that perilous one can have separate coverage with a safer car while the others can still enjoy low auto insurance rates even though they have sports cars. Most companies and states would allow a driver in a household to be excluded as long as he/she has own car and coverage. When you choose this route you have to remember that the excluded person is not covered and shouldn’t take chances.
As with most things in life there may not be a one definite solution for one issue. That is why it is highly advisable to look at it in several angles and get a few quotes before making a decision. Everyone should compare alternative offers at least once a year and switch if it is necessary to get the best deal. With a little attention and shopping around you will be able to find the highest savings. Why not use our platform to see what is available from providers in our panel by entering your zip code above.