One of life’s greatest celebrations is marriage. But after the wedding and the new couple start their journey together, a few things start to change. One of the biggest changes that many married couples are worried about is how their marital status will affect their car insurance premiums.
It is totally true. Depending on the state you live in and a number of other factors, your car insurance rates can change after you get married. This leads to the topic of this article: How Does Marital Status Affect Car Insurance? Read to the very end to learn more about how your marital status can impact your auto insurance rates.
How Does Marital Status Affect Auto Insurance Rates?
Insurers have their own unique procedures for assessing drivers’s risk levels. They want to cover many people so that they can make lots of profits, but they also need to reduce their risks.
To calculate risks, they check all the factors showing the potential for filling claims. Insurance companies charge people who are likely to file a claim—those who prove to be at higher risk—higher rates to reduce the possibility of financial loss when covering them.
In every state in USA, apart from Michigan and Massachusetts, your marital status will affect how much you pay for car insurance. Married couples typically pay less than single drivers. Married people prove to be less risky to insure due to a number of factors.
First of all, married people are often above the age of 25. Car insurance rates are high for young and teen drivers. And just getting older reduces your premiums. Married couples are older than young single drivers. So they pay low premiums in comparison.
Married couples tend to make fewer insurance claims. One reason could be because they share driving responsibilities, so they’re on the road less than single drivers. Also, married folks often own safer cars like minivans or SUVs, which come with built-in safety features.
Insurance companies often offer discounts for these features. When you apply for car insurance, they’ll ask if you’re married and might inquire about your spouse’s driving history. Some states don’t let insurers use marital status to set premiums, but being married can still get you discounts.
What is the Average Car Insurance Premium for Marred and Single Drivers?
The average married driver in the United States pays about $1381 a year for the auto police, while divorced drivers pay slightly more at around $1467 each year. This difference in the payment isn’t a penalty for being divorced; it’s based on past data.
Divorced drivers tend to file more claims, so their premiums are a bit higher than those for married drivers. Widowed drivers pay around $1431 annually, slightly more than married drivers. This is because, statistically, widowed drivers are more likely to have accidents.
Sometimes, a widow’s rates are as high as 226% after their spouse passes away. Regardless of your marital status, it is a very good choice to shop around for insurance. Don’t just go with the first option you see on the internet. Take your time to explore different companies’ quotes.
Do I Need to Add My Spouse to my Car Insurance?
Yes, if you live together, you likely have to add your spouse to your car insurance policy. And keep in mind that it might not affect the rates much unless you have a good driving record.
If your partner has several driving convictions, having them on your policy may hurt your premiums greatly. Your insurer will want to know about all the drivers in the home. And typically, you require them to be added to your policy.
Whether you just want to add your spouse as listed or you want to make them a named insurer that can make changes and payments on the policy, it is totally up to you.
Even if both of you have personal cars with policies from different insurers, you should be listed on each other’s insurance policies. You will definitely have to list your spouse on your policy if you share a car.
Best Car Insurance for Married Couple
Finding the perfect auto insurance for married people can be very difficult. It depends on various factors, like where you live and your personal situation. For example, if you are very close to an insurance agent, you might prefer the company they work with.
Good car insurance for married couples should cover all your vehicles at levels higher than just the basic liability. It is very important to have collision and comprehensive coverage to safeguard against unforeseen damage. Adding uninsured motorist coverage can further protect you from uninsured or underinsured drivers.
Always remember to explore any marriage discounts available. Generally, being married means cheaper premiums. Especially if you both have clean driving records and chose the right insurer.
