Getting married is one of the happiest times in a person’s life, but it also brings about numerous changes. Most people foresee many of the major alterations that will occur in their lives, but few actually consider the fact that their insurance status, especially insurance related to motor vehicles, could change. Some married couples choose to stay on their own insurance, but this can end up being a costly choice.
Reduced Risk to Insurance Company
Couples that choose not to combine their car insurance policies usually end up making a big mistake: never letting the insurance company know about their updated marital status. This is a huge error since simply getting married can lower a person’s car insurance premiums. This holds true even if there is only one car on the policy, and it’s important for couples to understand how this works.
Statistically speaking, married people are much safer drivers. This doesn’t mean that a crazy driver with serious road rage issues will immediately straighten up after saying “I do”, but car insurance companies set their prices by risk factors. Since being single is considered more of a risk factor than being married, car insurance rates are higher for single individuals. There are still, however, benefits beyond this lowering of rates.
Multiple Vehicle Discount
Just about anyone who has watched television over the past few years has likely seen a slew of car insurance commercials. While watching these commercials, most people have probably heard of ‘multi vehicle discounts’. Though it sounds self-explanatory, a multiple vehicle discount is a lowering of premiums that a driver sees when they add another vehicle to their policy. This discount is as easy to get as adding a spouse’s car to a policy.
It’s also important to note that some companies will reduce a driver’s premiums if they simply add another driver to the policy. This means that a couple will see serious savings by combining their policies and by putting all vehicles on the one combined policy.
Other important discounts that a couple can receive are related to what a person could call ‘green living’. Some companies, for instance, offer infrequent driver discounts. If one of the spouses in the young marriage doesn’t drive very often, this discount could begin to apply to the overall policy. It’s also possible to get commuter discounts when one spouse chooses to carpool or take public transportation around. If an individual is unable to get these discounts when single, it’s quite possible that they can get them after marrying an environmentally conscious person.
Someone once said that only two things are certain in life: death and taxes. Honestly though, for most people, purchasing insurance is another certainty. A majority of people need car insurance at some point in their life, and these costs are unfortunately often higher than a person expects. Getting married, however, can greatly reduce these rates. Lower car insurance rates definitely shouldn’t be the reason a couple gets married, but it definitely sweetens the pot.
If you’re getting married or recently married, congratulations! To find out what discounts may be available to you and your spouse, visit the Afformic Insurance website or give us a call at 888-751-7511. Let one of our agents help you find a Texas auto insurance policy that fits you!