How Marriage Affects Car Insurance Rates

Taking the big plunge will radically alter your life, and your car insurance policy is no exception. Once you get married, you will need to change your coverage so both of your policies are from the same company. If you both already have policies from the same insurer, then you should contact your agent about purchasing a single policy together. After you get these logistical issues squared away, there is good news: getting married almost always saves you money on your car insurance. Statistical data indicate that married people are less of a claims risk than their single counterparts, and, as a married man or woman, you will reap the rewards-lower premiums. In this post, we'll give you some basic information about marriage and car insurance and explain how to go about merging your policies.

Marriage & Car Insurance

Here is some helpful information about marriage and car insurance:

• Car insurance rates usually drop for men (and sometimes women) under the age of 25 when they get married
• You can save money and simplify your life by consolidating all of the insurance policies in your new household
• As a married couple, you may qualify for several discounts, including the multiple-vehicle and multiple-policy discount

Tying the Knot with Your Policies

You and your new spouse should sit down and review your existing auto insurance policies to decide which one you'd like to keep. You will then need to contact the insurance agent for that policy to learn how to add your spouse to the policy. Once your spouse is officially added to the policy, you can cancel his or her former coverage. When you consolidate your auto insurance policies, you might also consider purchasing your other insurance policies from the same company to save money.

For example, most married couples need some form of property insurance coverage, such as renters or homeowners insurance. If you purchase this policy from your auto insurer, you could save big with a multiple-policy discount. You may even be able to buy life insurance policies from the same company as well. Ask your agent about the auto insurance discounts for which you might qualify to maximize your savings after you're married.