Does Getting Married Affect my Auto and Home Insurance?

 

Many car insurance companies offer a discount to married drivers. Men under the age of 25 statistically have the most expensive auto insurance premiums, but they get a discount for being married.

If both husband and wife have good driving records, it makes sense to combine coverage, especially if they each have only one vehicle.  Putting a second vehicle on either policy will add a multi-vehicle discount, along with the discounted “married” rate. If the current policies are with two different carriers, check with each agent, to see which one offers the best overall rate for both drivers and vehicles. 

Keep in mind that if your autos are bundled with your home insurance, there’s usually a substantial discount for that.  If you “unbundle” an auto/home package to move your vehicle to your spouse’s policy, it may cause the home insurance to go up.

Does it make sense to keep our policies separate?

There are certain circumstances where it may not make sense to combine the policies.  If your new spouse’s driving record is less than perfect, the multi-vehicle and married discounts may not offset the driving record surcharges. Some carriers consider the driving records of all drivers associated with your address.  They may require that you exclude your spouse from your auto policy (to keep the lower rate), even if he or she has their own policy.  If excluded, they would not be covered to drive your vehicle.

If you’re not sure if your coverage is the best value for your household, ask for an insurance review of your current coverage and let a local insurance agent help you with some options.