Re-posted on 3/22/19
There is a wide array of factors that affect your auto insurance rate. Some of them make sense, like your driving record, the age, make, and model of your vehicle, and how much time you spend behind the wheel each day. Other factors make less sense, like your level of education, your age and gender, and whether you park your car in a parking lot or your own garage at night.
Why Getting Married Affects Your Auto Insurance
One thing that many people are surprised to see impact their insurance premium is their marital status. Generally speaking, married people spend less than singletons on their auto insurance, even when all other factors are the same.
An auto insurance policy that provides coverage for two drivers will cost less than two separate policies for those same two drivers. Most insurers offer multi-car discounts, making it cheaper to insure two cars on a single policy than having a separate policy for each vehicle. Say, for example, that one person pays a premium of $170 and another person pays a premium of $150. Separately, they pay a combined total of $320. Now say that those two people married and combined their auto insurance in a single policy. They could probably expect a new monthly premium of roughly $220 a month.
Aside from the “buy in bulk” discount, experts don’t have a specific reason as to why those who are married typically enjoy lower auto insurance premiums. Some of it may be due to the fact that errands are consolidated and each person spends less time driving on a per-month basis; instead of two people going on two grocery shopping trips each weekend, for example, only one grocery trip is made for the household. Other experts suggest that married people have more disposable income, making them less likely to file an insurance claim for a minor collision. For whatever reason, statistically speaking, married people are generally in fewer accidents and file fewer insurance claims than their single counterparts, making them less of a risk to insure.
Keeping Your Insurance Agent in the Loop
If you are planning to get married, have recently gotten married, or have had any other major life changes, talk to your insurance agent. Because your premium is based on a wide range of factors that aren’t necessarily related to your driving record, you may discover that changes like getting married, graduating from college, having a baby, or buying a home in Las Vegas, Nevada may score you a lower premium. Your insurance agent can help you look at your insurance policy and make sure that it still fits your needs and provides you with the best coverage at the best rate.
Read More: Auto Insurance in Las Vegas, Nevada
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DISCLAIMER: It is important to note that the information contained herein is made general for the purpose of explanation. You should consult your policy for exclusions or other language that may alter your policy.