How does getting married affect auto insurance?
I DO ... THE PERFECT PAIRING
YAY! WE'RE MARRIED!
OOPS! Was I supposed to tell my auto insurance agent?
YES! Your automobile insurance, just like your income tax return and maybe your larger apartment or home, will change after you become "Mr" and "Mrs".
GOOD NEWS! The "Mr" and "Mrs" combination, (and in some states, domestic partners), traditionally get into fewer accidents than "singles". You might be pleasantly surprised by the dollars you can save by combining your policies with one insurer! Auto insurance combinations, as well as adding homeowner’s coverage with the same insurance company adds to your savings!
IS THIS DEAL FOR EVERYONE? Well, depends on your driving records. If you don't have speeding tickets and have an accident free history, you’re in luck. Call your agent now to get he best rates available to you in your new situation. Typically, insuring more than one vehicle will afford you a nice discount!
WHAT IF MY SPOUSE'S DRIVING RECORD ISN'T SO PRETTY? If you or your spouse have several moving violations, or maybe you've had some unfortunate claims experience recently, you might want to keep your coverage as "individual" for awhile. Be aware that even though you keep separate policies, the "better risk" whether its the Mr. Or the Mrs., may see an increase after the marriage, on his or her individual policy. Since you are legally together under the same roof, the driving record of ALL family members, affects everyone's cost of insurance. This is because if another family member drives your car for any reason and gets into an accident, your policy as an individual would have to cover the claim expenses.
HOW ABOUT THAT NEW EXPENSIVE CAR I JUST BOUGHT? Another reason you might want to stay with individual policies is if your spouse drives an expensive "sweet ride". In this case, you may find that individual policies are more economical.
I DO...so I WILL… Get in touch with your insurance agent to see if the Mr and Mrs combination can save you money. Additional saving may be available if you own a home!
