Why does car insurance drop after marriage?
Statistically speaking, married couples are less likely to get into car accidents than their single counterparts. Reasons for this vary, but some say married people drive less often, and others say married couples have more stable, and thus less risky, lifestyles. One study reported that single drivers are twice as likely to get injured in an accident in comparison to married drivers.
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Combining Car Insurance Plans
One option available when you are married is that you can now combine your car insurance plans. While this could potentially save you money, that is not always the case. When you combine insurance plans, insurance providers take into account both of your driving records, cars you drive, commute times, and other driving factors. If your spouse has a worse driving record than you or drives a more expensive car, your rates could increase instead. That’s why combining plans is not always a surefire way to lower your insurance rate.
…marriage is another indicator that shows drivers are less risky to insure, in the eyes of car insurance companies.
Domestic partnerships have a lot in common with marriage, and sometimes insurance providers see both relationship statuses in the same light. Some providers offer domestic partnership policies with similar terms for married drivers, and rates can decrease here as well. Drivers in domestic partnerships also have a lower chance of being in accidents than singles.
Multiple Vehicle Discounts
In addition to more than one driver on a car’s insurance plan, if you have more than one car in your household, multiple vehicle discounts can also save you money. In some cases, these discounts provide the same coverage at a less expensive rate than if you insured both cars separately. All cars must be insured with the same provider and under the same driver’s name.
If you have questions about how getting married might affect your car insurance rates, give us a call today for all the answers you need.