Consider combining insurance policies with your spouse to save big.
Congratulations on getting married! Now that the wedding bells have rung and the ring is on your finger, now is the time to consider some important decisions. After all, marriage affects a lot of things in your life, from your personal rights, status, taxes, and even insurance. One important task that you may easily miss on your list is to consider your auto insurance policies. Should you or should you not combine them now that you’re married?
Many factors influence your car insurance rates, and one of them is marital status. Generally, those who are married will receive a lower premium than those who are single, even if all other factors remain the same. This is because insurers see married people are less of a risk to insure. Statistically, they face fewer accidents on the road and have a lower probability of filing a claim. Even if you don’t combine insurance policies, you may enjoy a lower premium when you next renew your policy.
Combining auto insurance policies can be a smart move, particularly if you and your spouse have clean driving records. If this is the case, combining policies can entitle you to even further savings! However, if you or your spouse have had more than one violation ticket or accident, you could see rates rise. In this situation, you may save more money by keeping your policies separate.
Combining policies also makes sense for couples that only have one car because it guarantees that both drivers are covered without incurring the cost of a second policy. On the other hand, couples with more than one vehicle may get to enjoy a multi-car discount from insurers.
Finally, bundling numerous policies together with one insurer will help you earn even greater discounts overall.