Getting married is a significant life change, and insurance is usually the last thing on people’s minds. However, getting married could mean a cheaper insurance rate.
If I am married, will my car insurance be cheaper?
Being married is typically seen by insurance companies as more stable. Historical data shows that married couples tend to file fewer claims and have cleaner driving records. From an insurer’s perspective, this means less risk. That is why married couples typically have cheaper insurance rates if they combine policies.
Should I add my spouse to my car insurance?
Adding your spouse to your car insurance can be an easy way to lower your insurance premium. Some insurers even require that you add your spouse once you are married. On average, a married driver pays $160 less than a single, unmarried driver. However, if your spouse has a poor driving record or a low credit score, your insurance premium may increase.
Will my marital status affect my home insurance premium?
Similar to car insurance, insurance companies view homeowners as financially stable and lower risk. This is why some insurance companies offer a homeowners discount. If you and your spouse purchase a home together, you may get a discount on your insurance premium.
What other insurance discounts are there for married couples?
Multi-car discount: If you and your spouse own a car, then you could save up to 25% by putting both cars onto one policy.
Multi-policy discount: You and your spouse could save money by bundling your insurance policies, like home and auto insurance. Many insurance companies offer a discount for bundling multiple policies.
Let’s Talk
We know that getting married comes with a lot of new changes. Contact one of our experienced agents today at 410-742-5111 to learn more about how you can save money on your policies.