Being with someone requires taking him or her 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 that can help or hinder in getting cheaper premiums. But we need to look at overall costs to make a fair judgement and we will try to do that in this post.
The short answer is that married people usually get cheaper car insurance rates. Companies must have found statistical significance when they look at historical claims data, as they usually offer better prices to lower risk applicants. They are generally considered more responsible compared to single drivers. They usually consider the family’s well being when they are behind the steering wheel and be more careful that is admired and rewarded with lower quotes.
Normally, the premiums would be lower for both partners if they have two separate covers. You can save money with multi-car policies where it is permitted by the state. In some states, the owner of the vehicle must be the person who buys insurance. You can probably sort those issues over time to make sure you can have all your and spouse’s cars under one policy. This would usually give you about 10% discount for each vehicle in there.
Generally, most couples prefer joint automobile insurance because it may work out cheaper and it may be their default choice for most things in life. However, how you want to set it up is entirely up to you. There are couples who still split restaurant bills after so many years. There will be a solution whichever way you want to arrange it. For example, you can still get discounts for buying all the policies in the household from the same company if you don’t want to have a multi-car arrangement. You can save even more by bundling home and auto.
In addition to people wanting to keep things independently, there can be legal issues as well. If you are keeping assets separate you may want to do the same for coverage regardless of savings. Usually joint policyholders may be sued individually for damages that were caused by the other partner. You may be happy to be married to someone but not happy to be picking up the tab from liability claims.
When you have other people to be included in a household you have more options to play around. You can try to insure the autos on your name, jointly or on the partner’s name. In any case, you would need to include a partner as a listed driver even if she or he has own arrangements. Otherwise, you need to explicitly exclude them. All these alternatives can result in different premium charge.
Either you can use online comparison sites or call a broker. If you call the current provider directly they can do the calculations for you as well. These days it takes only minutes to get quotes. Take enough time to discuss and iron things out. Usually, it is a longer process when more than one person’s input is required.