Is Being Married Advantageous for Auto Insurance?

Marital status is one of the indicators of risk affecting car insurance premiums so it is one of the questions on a quote form. Statistically, married drivers tend to file fewer claims and are less likely to get involved in accidents than single or divorce motorists. Car insurers see getting married as a sign of taking responsibility and maturity that leads to safer driving practices. On average, married drivers get about a 5% discount on vehicle insurance in comparison to single motorists

Some companies can offer up to 10% savings and the average discounts may be higher in some states. And drivers in higher risk groups are likely to get even higher savings since being married reduces their risk profile in the eyes of auto insurers. For example, not only do married male drivers under the age of 25 get higher discounts due to drop in their presumed risk levels but also they save more in terms of dollars because they pay higher premiums on average.

They usually consider the family’s well-being when they are driving and be more careful, calmer and avoid risky behaviours. On the other hand, studies show that single drivers take more risk and cause more accidents, as well as getting injured more. According to a National Institute of Health study, never married drivers have twice the risk of getting injured in an accident in comparison to married drivers.

Furthermore, married drivers tend to drive safer and low-risk automobiles like sedans, while single drivers may prefer coupes and sportier models or cars with sporty trims. These choices affect the claims data that is often taken into account when determining risk profiles.

So, notifying your provider the moment you get married would generally be advantageous for auto insurance. Besides, policyholders are required to inform their agents or insurers of such significant changes in their lives like getting married, moving into a new address or a driver moving in with them. So, joining your life with another person may bring more changes to the factors affecting your premiums.

Married couples can also get 10 – 15% discounts on their overall premiums with multi-car insurance policies. Although these policies aren’t exclusive to them, they are well placed to insure their cars under one policy and save money.

However, if one spouse has a terrible driving, accident or credit history, it may affect their car insurance rates a lot because spouses are usually included in each other’s policies. In the same way, adding the high risk spouse to your policy would increase your rates a lot, if you have one car between you.

Excluding your spouse from your auto insurance may be a solution that can be used to avoid a bad driver affecting good driver’s rates. But it isn’t practical because couples often share each other’s cars or driving responsibilities on long journeys.

Sharing driving is actually another reason couples are low risk. They are likely to drive less since they may often travel together or share responsibilities that require them to drive like grocery shopping. Also, they share driving, while a single person may have to drive the whole distance that increases tiredness and related accident risks.

Once you are married you need to take your spouse into account when making choices and this is no different in terms of vehicle insurance. They will bring a few things on to table like another auto, good or bad credit and/or driving history, which can help or hinder in getting cheaper premiums.

Generally, being married results in lower auto insurance rates due to discounts offered to married motorists and possibility of arranging fairly advantageous and cheaper multi-vehicle insurance policies. Remember that some companies offer higher discounts and lower rates for married motorists than others. So, you should always shop around, especially just after getting married or moving to a new address with your partner.