Will your auto insurance rates drop if you get married? You may or may NOT depending on a number of things. Let’s look at the various situations when each applies so you’ll be better informed to choose which will help you make the most savings…
Your rates will drop when you get married if the following are true…
1. You’re under 25 years of age. Under-25 drivers (especially the males) get very high rates. Why is this so? Insurers claim that statistics show that this profile is a very high risk. In fact, the younger a male driver is, the higher the risk attached to insuring him all other things being equal.
Nevertheless, insurers have also discovered that under 25 male drivers who are married do NOT fit the risk pattern of their unmarried counterparts. So they conclude that marriage must have a sobering or civilizing effect on these young drivers. If you have had reason to observe or work with people over a reason period, you’ll agree that marriage does make most people more responsible. And, if a person becomes more responsible, it shows in every area of their lives (driving included).
2. Your spouse has a better profile and so gets a better deal from insurers. In such a case you’ll have to be the secondary driver to take advantage of this.
3. If you have more than one vehicle and so buy your policies from the same insurer. This is what is referred to as a multi-vehicle discount. But care has to be taken because sometimes you can be better off having your different cars insured with separate insurers.
Conversely, you’ll NOT attract a cheaper rate by getting married if the following are true… …
1. A couple that both have a major case like a DUI can’t get any advantage from being married as far as cheaper rates are concerned. You’ll have to take very practical steps to remedy this. Don’t get into such a situation because it will impact your rates negatively for at least a few years no matter what you do.
2. Couples who allow their policy to lapse have given up any advantage they might have got from their marital status. There are fewer things that have as adverse an effect on your auto insurance rate as letting it lapse. Therefore, as much as lies within your power, never let it lapse.
3. Most importantly, you do NOT know how to take advantage of the savings opportunity available to you as a married couple. The responsibility of getting the right information is yours so go ahead and get the details you need. Discussing with your agent is one good way to get the information you need — That is, if you have a good agent.
How much much savings will you make? $100, $200, $300, $400 or even a lot more? Discover how much by obtaining and evaluating quotes at the following sites: cheaper auto insurance and affordable car insurance. Chimezirim Odimba gives away sure-fire tips for savings on insurance.
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