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Auto Insurance Savings from Life Changes

Sometimes life takes funny turns. When you go through troubles it can seem like nothing is going your way. But strangely enough, there are certain times when troublesome circumstances in life can lead to nice savings on your auto insurance bill. For example, unhappy things like divorce or job loss can lead to lower auto insurance costs for you as a customer. And the good news is that positive life changes can also lead to savings off your auto insurance premiums. Life's ups and downs can lead to nice saving off of your car policy. It is good to know that this is a possibility. For most of us, we'll take all the help we can get.

Money Saving Life Changes

If you have recently been laid off, it could give you a way to save some money on your premium. To begin with, you are driving less, putting less gas into the car, and encountering fewer opportunities for auto accidents. While you are laid off from work and driving few miles, you may be able to get a lower rate from your insurer. If you can verify the mileage you are driving, you could save money. Many insurers give discounts for cars that are driven less than a certain number of miles per year. When you are laid off and your car or truck is mostly parked, you'll very likely be under that maximum if one exists where you live with the insurer you're working with.

Getting Married, Getting Divorced

Getting married isn't quite as sad as getting laid off, but it is a big change in life nonetheless. Young drivers who get married can enjoy significant discounts on their rates, especially when they are under the age of 25. Being married counteracts to a great extent the youth surcharge under 25 drivers have to pay. That surcharge and the corollary married discount both vary from state to state and from company to company. Getting divorced, like getting married, can get you a discount on your auto insurance rates. Here's how: if you kicked your high risk driver spouse out of the house, and he is no longer driving the car he used to drive, there is no need to pay high risk rates on that car when you are a standard or preferred class driver with your auto insurance company. If the ex spouse had a good driving record like you, it might not make much of a financial difference, but you ought to inform your insurer either way.

Getting a Minivan

Getting a minivan usually symbolizes the fact that you're right in the middle of raising a family. Maybe you have two or three kids, and you need the space for the kids and all of their stuff. Well, in addition to being spacious and having awesome sliding doors, minivans have another great feature: they are very cheap to insure. In fact, they are some of the least expensive vehicles to insure out on the road. So if you had to get rid of that fun sports car for a minivan, at least you can feel good about all the money you're saving.

Teen Off to College

When your teenage kid goes off to college, it removes a full time high risk driver from your roster of everyday operators at your house. This is great news for your auto insurance rates. With your teen off to college, you can get a break from those astronomical prices you have been paying for him. The payoff is even better is he is far away and does not take a car with him.

Quitting Smoking

When you quit smoking, you need to tell your insurance company. Some auto insurers offer discounts for non smokers. At the very least, you can get a discount on your homeowners insurance for this one. But check into it with your auto insurer. Add these savings to all the money you're not spending on cigarettes and you can buy yourself a new car pretty soon with all of the money you're saving.

Important Birthdays

When you turn 25, you should see a large decrease in your next renewal rates as long as you have kept a relatively clean record. Drivers under the age of 25 pay a huge age based surcharge that only the turning of the calendar can do anything about. Similarly, retirees get a discount, usually a pretty significant one. If you have just retired or are getting ready to, make sure it is reflected in your rates with your auto insurance company.

Sometime life has its ups and downs. It is informative to look at some of these changes that life throws at us in the context of the rates we pay for our auto insurance.


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