Does Being Married Lower Car Insurance

It may feel incredibly unfair to the consumer that married people can get much lower rates for car insurance but for many insurers the decision makes perfect sense. This is if both married drivers have good driving records. If you re still loving life as a singleton there are still some things you can do to lower your car insurance.

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When Separate Car Insurance For Married Couples Makes Sense

With few exceptions getting married will lower your auto insurance rates.

Does being married lower car insurance. Insurance companies always have profits and risks in mind and often operate under the assumption that married people are safer drivers and get into fewer accidents. Insurance rates for married couples may be lowered by insurance companies under the theory that married people are typically more mature and responsible and are less likely to drive recklessly. This claims risk is determined by a proprietary formula used by the insurer. Choose the car you drive carefully cars are categorised into insurance groups numbered 1 50 and generally the lower the number the lower the car insurance.

This benefit is even better for men under age 25 who get married as auto insurance rates for this group tend to be higher on their own. A bad driving record poor credit or an expensive sports car are common reasons couples choose to keep separate policies. When searching for car insurance quotes online the use of a comparison site can be of great assistance when considering either a joint policy or individual ones for husband and wife. But occasionally separate car insurance for married couples makes more sense.

There are two other factors significantly affecting drivers auto insurance quotes the study said. Statistics show that married couples are more likely to have better driving records than their single counterparts. Most auto insurance carriers offer a discount to married drivers. On average a married 20 year old pays 21 percent less than a single 20 year old for the same policy.

Even men under 25 who generally get stuck with the highest auto insurance premiums receive a discount for being married. According to the study marital status is almost as significant in car insurance pricing as age and gender. Insurance companies have certain criteria that they look at when considering the premiums for couples who are married. If i m not married what else can i do to get discount car insurance.

In addition to the discounts less risk may translate to lower auto insurance rates for you. Car insurance rates for married over 30 year olds only falls about 2 percent the study found. Getting married therefore generally has a positive effect on your car insurance rates. Married couples sometimes are able to obtain auto insurance at a lower cost.

In general a married couple will receive lower insurance rates than single individuals. Car insurance companies calculate their policyholders premiums based on the likelihood of their filing claims during the time period covered by their policy. But the reason is misunderstood by most consumers.