After the first kiss, the cake-cutting and the honeymoon, couples often find themselves back to reality with stacks of bills from their Big Day piling up, as well as the costs of other life expenses that come with sharing life together. There is one expense, however, that may decrease once you get married - your auto insurance premium.
Understanding how car insurance for couples works
So, why does your car insurance premium usually decrease after you are married? Statistics show that married couples are less likely to file claims to their insurance providers and get fewer tickets. As a result, car insurance for married couples often drops because statistics show married couples tend to be more responsible drivers.
Even though statistical data shows that married people are less of a claims risk than their single counterparts, your premium also depends on your driving record and other important information, so get all the facts before making any big insurance changes.
Getting the most from your couples car insurance
Before you tie the knot, contact your insurance agent or representative to let them know you will be combining car insurance because of marriage. Doing this can not only lighten up your to-do list once you are back from your honeymoon, but also it can put discounts in place as soon as you tie the knot.
In addition, if you are turning 25 or have recently turned 25 around the time of your wedding, you may be eligible to receive an additional discount. Many insurers typically drop car insurance premiums when drivers turn 25 years old.
Depending on your situation, it may be in your best interest to evaluate your current policies and determine if they will fit your needs as a married couple. In addition, you may want re-examine the liability limits on your auto insurance policy. You probably will have additional joint assets that could be exposed to liability, so you'll want to make sure that your policy adequately protects them if a serious accident ever occurs.
Saving money is an important goal to most newlyweds, so it's helpful to understand that saying "I do" isn't the only way you can save money on car insurance. Keep in mind the following four other ways to receive discounts on your car insurance once you've tied the knot.
Other ways to save on couples car insurance
Multi-vehicle discounts - Combining car insurance is an easy way to lower your premiums once you are married. Insurance companies typically give multi-vehicle discounts to couples and families with more than one car, so get on the same policy and start reaping the benefits.
Safe driver discounts - Maintaining a driving record clean of accidents, tickets and other traffic offenses is a surefire way to keep your premiums to a minimum. Remember that your spouse's driving record will be linked to your own. Therefore, if one of you receives points on your record, it can affect both of your insurance premiums. So, always drive safely.
Safe vehicle discounts - Car insurance companies reward driving in safe vehicles, and many offer discounts for added safety features within your car. You may receive lower insurance rates if your cars have air bags, security alarms, factory-installed mechanical seat belts or antilock brakes. If you and your spouse do everything possible to ensure that your cars are as safe, you just might see your rates drop.
Multi-policy discount - Not only will you receive a discount for having multiple vehicles under the same policy, but also you may be rewarded if you buy your other insurance policies with the same company. Whether it's your renters/homeowners insurance, life insurance, boat, RV or motorcycle insurance, insurance providers are likely to give you a multi-policy discount as a "thank you" for the extra business.
No comments:
Post a Comment