Every consumer is well aware of the fact that they are required to maintain an acceptable level of car insurance, but few people realize that they may be overpaying for their coverage unnecessarily. Major life changes, such as getting married, often have a direct impact on the cost of car insurance and should be reviewed. However, most consumers are unaware that car insurance for couples that is somewhat different than their existing individual policies is actually available. The following key points can help drivers determine if they will be better off by seeking car insurance for couples.
Getting Car Insurance For Couples: Always “BUNDLE”
The majority of insurers assess lower premiums to married individuals due to the statistic fact that they are less likely to be involved in serious motor vehicle accidents. Whether it is because a married driver is not as likely to be driving late at night or for some other reason, many insurance companies rely on the highway safety board’s figures to help them calculate rates. Simply reporting a change in marital status can help lower the cost of coverage even if a person decides not to alter their policy. Always make sure that you mention the fact that you are married because usually auto insurance for couples is going to be cheaper than getting separate insurance. In other words, you should always BUNDLE for additional savings.
You will likely save money per individual
Most drivers believe that their car insurance will simply be doubled if they add an additional driver on to their policy, but the good news is that this is not the case. If a married couple is each paying for their own coverage, obtaining a new policy with one company could significantly reduce their costs. Many insurers still base their premiums on credit scores and financial ratings, and some insurance companies will even check each spouse and use whichever history is better.
Discounts On Car Insurance for Married Couples
In addition to the already lower rates that married couples will be receiving, some common discounts often will be automatically applied to the policy. Insurance companies like to reward loyalty by offering multiple vehicle discounts, and car insurance for couples will certainly include this familiar source of savings. Consumers can take advantage of other savings opportunities, such as multi-line discounts and safe driver discounts, as well. Savings available for a good credit history can often be achieved even if only one of the spouses would qualify for the discount.
Getting insurance as a couple may not always be the most appropriate choice in certain situations, and prospective seekers should consider the following scenario. If either spouse has a blemished driving history, that individual may cause the rates to increase on the entire policy. Any high risk clients are going to be assessed increased rates as well, so some consumers may be better off avoiding joining such a policy that already exists.
Insurance Advice for Couples – Get Multiple Quotes
Insurance companies are more than willing to provide multiple quotes, so drivers can often figure out if going into a policy together will be the best before they ever retain the coverage. The majority of married consumers will find that looking into car insurance for couples is one of the best ways for them to save money on their coverage, and the above key points will often provide a foundation of information for the search ahead.