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Marriage and Decreasing Insurance Rates

A lot of people assume that there are not a lot of ways to get a discount on your car insurance premiums if you are under the age of 25. One of the things that people often fail to consider is how getting married will affect a person's car insurance rates. What drivers ed may not have taught you is that, for young and older drivers, getting married tends to have a positive effect on rates.

Why Marriage Lowers Rates

One of the reasons that getting married tends to lower car insurance rates is that marriage signifies more responsibility in a person's life. When you decide to settle down and start a family, a lot of insurance companies will see this as a big sign that you are a more mature person who can handle a lot of responsibility. Not all companies share this belief, but there are a great many that do and you could stand to save a lot by being looked at as a responsible driver.

Another reason that getting married tends to lower rates is that spouses can combine their policies together. That is, they can both get listed on one policy, and this is often way cheaper than keeping two separate policies. That's not true in every case, but it's pretty likely. So if you've recently gotten married, you will want to sit down with your spouse and get some quotes for a new policy altogether with the two of you listed or just think about switching one of your names to the other's policy. There's no real way to discern which option is going to get you the best rate, so you will just have to get some quotes and make some calls to see which one will turn out better for you and your spouse in the end.

Married couples also get better rates sometimes because they have the opportunity to combine their car insurance policies with other types of insurance policies that they hold. For example, many married couples have to take out a homeowners insurance policy. This in and of itself demonstrates responsibility to many providers because owning one's own home is great responsibility. If you do already have one this kind of policy or maybe even a life insurance policy, then you should consider trying to combine them to get a good deal on your car insurance rates. Speak with your spouse about these options and see what you can come up with.

Other Factors to Consider

There may be some instances in which getting married may not work to decrease your car insurance rates. Insurance companies will look at a variety of different factors when they decide on your premium amounts, and if one spouse has a bad driving record then this could actually cause your premiums to go up. Talk about your driving record with your spouse before you try to combine policies and get a better rate on your coverage. If it turns out that your spouse has a bad driving record, then it may be in your best interest to not combine your policies and to keep a separate one for yourself.

If you really want to get a good rate on your insurance after you get married but are working with a bad driving record, then look for companies that will offer you discounts after you keep a good driving record for a few years. When it comes to marriage and decreasing insurance rates, you may not be able to get the discount you want to get now, but you and your spouse can certainly benefit from it later on down the road.


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