Car Insurance for Married Couples

Car insurance for married couples

A married driver's car insurance costs an average of $120 per month. The average driver can save about $9 per month, or $108 per year, on auto insurance by getting married.

Cheap insurance companies for married drivers

How does marital status affect car insurance costs company wise?

How does marital status affect car insurance costs in each state?

Tips for getting cheaper car insurance for newlyweds

Newlyweds often face a slew of challenges that they didn't foresee after their wedding day. One of the most important aspects of this is the insurance you have on your vehicle(s). No matter if your spouse is an eligible driver or not, most auto insurance companies require married couples to name each other as drivers on the policy.

Get a joint policy with your spouse

Sharing vehicle insurance coverage with your spouse is a great economical idea. The advantages of a shared policy will be very much of help if you follow a strict budget plan.

Find insurance discounts for married couples

Multi-car discounts are usually available when you add your partner's vehicle to your insurance coverage. The greater revenue your insurance company receives from insuring more than one car is the reason for this discount. In return for the increased revenue, the premium is reduced.

You may also be eligible for a discount because of the fact that you've been married. Changing your status from "single" to "married" might save you $108 a year in insurance premiums. Your insurance company views married customers as more stable drivers because they are more likely to share driving responsibilities and as a result, they may have fewer claims' payouts.

Simplify your insurance situation

To add a spouse to your insurance coverage may seem difficult. But it's actually a lot easier than you think. For married couples with separate insurance plans, it's possible that you'll be required to either include or exclude the spouse from your coverage.

When two or more people share a vehicle, they are either classified as covered drivers or are completely excluded from coverage. In the latter case, the insurance company would not be responsible for any harm they may have caused.

There will be no way to use your spouse's vehicle unless you wish to put yourself in danger of being uninsured in the event of an accident. In addition, the convenience of only having to deal with one payment to pay for one insurance coverage is undeniable.

Average car insurance premiums by marital status

Excluding your spouse from your car insurance

If you don't include your spouse on your car insurance, your spouse will not be covered if they drive your car. Just call your insurance company and ask them to take your spouse off of your policy. This is called an "exclusion for a named driver."

Remember that most insurance companies require that all licensed drivers living in the same house be listed on the policy. This means that even if you and your spouse each drive a different car and get insurance from a different company, each of you would still have to put the other person on your own policy, and your rates would change because of it.

Named-driver exclusions let you get around this rule and avoid paying extra when your spouse's car, credit, or record would raise your rates more than you are willing to pay. Once you take your spouse off of your auto insurance policy, you can't let them drive your car. If they get into an accident while driving as an excluded driver, your insurance company won't pay for the damages.

Couples who are married should also know that named-driver exclusions are not allowed in all states. Before removing your spouse from your policy, check the rules in your state and talk to your insurer.

When to keep your car insurance policy separate from your spouse's insurance

If your partner has a bad driving record

Car insurance companies use all the information they have about you to figure out how much your premium will be, and your driving record is a big part of that. If you're a better driver than your spouse, adding yourself to their policy can lower their risk by association.

By doing this, you can lower their insurance premium but increase your own. If you are going to use your spouse's car and they are going to use yours, you will need to merge your policies. But keep in mind that their driving record could affect you.

If you have a preferred car insurance policy from a company that doesn't like risky drivers, adding a driver with a bad driving record could get you dropped.

If your spouse has a low credit score

Most insurance companies and states use your credit score as one of the factors that go into figuring out how much you pay for insurance. Like having a bad driving record, having a low credit score can have a big effect on how much you pay for insurance.

 If your spouse's credit is worse than yours, make sure that you are the only one on the policy. This way, your premium is based only on your credit report.

If your partner drives an expensive car

 If you drive a Toyota but your significant other drives a Tesla, you should expect a significant difference in your premiums. Your insurer has to soften the risk of insuring such a high-value car by charging a high premium.

If you’re worried about footing the bill for their fancy and expensive car, consider getting your own policy.

Additional ways to save on insurance after marriage

In contrast to your home, your car's value goes down over time. You may no longer need the collision and comprehensive coverage you had on your 2005 Corolla. Even though it's not required by state law, having a lot of coverage is meant to help you replace or fix your car if it gets damaged because of a covered claim.

Since collision and comprehensive coverages aren't required by law and can be expensive, the general rule in the insurance world is that you might want to drop them if your car is worth less than $4,000.

Choose your coverage carefully

Know that you should only use your car insurance when the cost of the repairs is more than the amount your premiums would go up.

• Get an estimate of how much it will cost to fix after an accident.
• Find out how much your premium would go up if you caused an accident. Think about the fact that after an accident, most companies will charge you for three years.
• Compare how much the damage cost to how much your premiums went up and how much your deductible was. If paying out-of-pocket costs, yourself is cheaper, you should do it.

This only applies to your car if you are at fault in a collision. You don't have a choice if the driver whose car you broke wants to file a claim. Also, claims for comprehensive coverage tend to have much less of an effect on your premium than collision claims because they aren't caused by the driver.

Use discounts

When it comes to car insurance discounts, it's all about the little things. Even though each discount is small, they can add up to something big.

• Multi-policy discount
• Good driver discount
• Good student discount
• Telematics programs
• Payment by bank account
• Paid in full discount
• eSignature discounts
• Paperless billing discount
• Multi-vehicle discount

Compare insurance rates

At the end of the day, you might be paying too much for car insurance because you're with the wrong company. Checking with other insurance companies is the best way to make sure you're getting the best deal. Type in your ZIP code to find out how much money you can save.

Best auto insurance discounts for married couples

The 'Big Three'

• Marriage Discount: Insurance companies don't tell you directly about this discount. Instead, it is hidden as a part of the rating system. A driver who gets married and has the same credit score and driving record will pay less.
• Multi-Car Discount: You can get this discount, which could be as high as 25%, if you put both of those cars in the same policy.
• Multi-Policy Discount: If you buy insurance for your car and your home or apartment at the same time, you can save money. Since you're going to spend the rest of your lives together, you might want to get life insurance for each other. An umbrella policy protects you if something terrible happens on top of your car and home insurance.

Payment Discounts

• Pay in Full: If you take care of the policy up front, your wedding gift or tax return can go a long way.
• Automatic Payments: Now that you share a bank account, you can set up an electronic funds transfer or set up automatic credit card payments to earn points for your next trip together.
• Buy in Advance: Do you want your car insurance to start after your honeymoon or when your current policy runs out? If you buy seven days or more ahead of time, you might get a discount.

Other car insurance discounts

Is car insurance any different for same-sex married couples?

Even though insurance is controlled by the state, the Supreme Court case Obergefell v. Hodges trumps that authority and gives same-sex couples the legal right to get married and any benefits that may come with it.

Because of that case, same-sex couples should have the same rights and laws when it comes to auto insurance. Contact your state's insurance commissioner if you think your insurance rates have been unfairly set.

Does being married lower car insurance rates?

Yes, it certainly does. Statistics show that married drivers are less likely to make claims than single, divorced, or widowed drivers; therefore, married drivers pay less for auto insurance. Once you get married, your auto insurance costs decrease by approximately 4%, saving them approximately $108 per year.

Bottom Line

Car insurance is generally less expensive for married couples than for single people. This is not an attempt to punish unmarried people; rather, it is based solely on statistics that show married drivers are generally safer drivers. You can lower your car insurance rates whether you are married or single.

How married couples get the best car insurance with way.com

Insurers use different formulas to calculate premiums, and some may give married couples a larger discount than others. That means that if you want to save money as a married couple, you should compare car insurance quotes. To find out how much of a discount you could get, compare rates from at least three different companies.

Rates will vary depending on your driving history and personal profile, but you should be able to find a reasonable deal. Way got a database of multiple insurance providers which is used to find the best insurance quotes available. With the help of Way.com you can find the cheapest car insurance quotes and companies in your neighborhood.