Car Insurance for Married Couples
It’s not as pretty as a wedding dress, or as exciting as a Hawaiian honeymoon. But it can be important to your marriage financially: car insurance for married couples.
Points to Ponder
Consider these topics when you are going to buy car insurance for a married couple:
- Shared policies vs. separate policy
- Premium rate
- Monthly, six month and yearly payments
What About Domestic Partners and Civil Unions?
Although same-sex marriage has been legal in the US since 2015, several states offer marriage rates for domestic couples and LGBTQ+ unions. These states include California, Colorado, Washington, DC, Hawaii, Illinois, Maine, Nevada, New Jersey, Vermont, Washington and Wisconsin.
You can choose to pay month to month for the policy or pay upfront in exchange for a discount. A six-month policy is a popular option.
Shared Policy vs. Individual
When married, you and your partner can share a single policy or purchase separate policies. You’ll want to decide which policy will provide the most savings, what benefits you need, and which insurance company has the customer service and reputation you want. You will also want to remember details of your particular circumstances.
Usually, a joint policy owned by both spouses is the best approach to auto insurance. Plus, policies owned by married couples are cheaper than those owned by individuals. Why? Because insurance research has shown that married drivers tend to be safer behind the wheel.
Common benefits of combining insurance with your spouse include:
- Sharing policies can save you money.
- If one of you has a history of poor driving, a clean driving record from your partner can balance the situation with a more competitive level.
- Both partners are protected and can share a car.
- It is easier to pay one car insurance premium.
- Many insurance companies offer discounts for multiple cars under the same policy.
Some couples choose to separate their car insurance policies. Combining your policies doesn’t always make sense. This is especially true when:
- One of you has a bad driving record. When combining insurance, one person’s poor driving history can lower his premiums while raising the other. Say your partner has a DUI on the books, the coverage will be very expensive.
- A person has a bad credit score. If your spouse has a poor credit rating, make sure your name is the only one on your policy so that only your credit score is used to determine the cost of the premium.
Average Premium Based on Credit Score
|Credit score||Average Annual Premium|
- Someone has a very expensive car. This in itself isn’t a bad thing, but a Bugatti or a Ferrari comes at a higher premium than a Nissan. People who drive Nissan can save money at their discretion.
Average Premium: Married vs. bachelor
A married couple will, on average, pay $186 per month in premiums for a joint policy, or about $89 less than the average premium for an individual policy.
Average Premium for One Person Based on Marital Status
|Marital status||Average Annual Premium|
Why Premiums Are Cheaper If You Are Married
according to study by the Consumer Federation of America (CFA), two-thirds of major insurance companies in ten major cities raise rates by an average of 20 percent when a spouse dies. Other report concludes that when single people marry, their auto insurance premiums drop by about 6 percent.
Rates are usually also higher for single, separated or divorced customers.
Based on studies and observations, insurance companies often work with the assumption that married individuals drive more carefully than single drivers. Another reason insurance companies want to attract married drivers is because they are more likely to own a home, which means an opportunity for policyholders to combine their auto insurance with homeowners insurance and other coverages.
Discounts That May Be Available
States differ in the discounts required and insurance companies differ in what discounts they offer. Discounts are usually small but when combined can help reduce premiums.
Discounts can include:
- Good driver discount
- Multi-vehicle discount
- Multi-policy discounts (homeowners, renters, motorcycles, life insurance)
- Telematics program
- Paid at full discount
- Homeowner discount
- eSignature discount
- Paperless billing discount
- Anti-theft device discount
- Professional organization discount
- Low mileage discount
- Great student discount (16 to age 25)
How to Get the Best Rates
Now it’s time to decide which company and policy you want. Even if you are happy with your current provider, get quotes from at least three companies. We recommend that you compare quotes from insurance providers at least once a year. Comparison tools, such as our interactive EINSURANCE quote generator, take the information you enter and get a quote for you.
How to Compare Quotes the Simple Way
Before you get an offer, gather some pertinent information about everyone who will be joining the policy.
1. Personal overview notes include:
Address and other contact information
Date of birth
Driver’s license number
2. Get shared information about your vehicle.
Vehicle Identification Number (VIN)
Make and model
3. List the current insurance company for each person to be included in your policy.
Its purpose is to show that everyone on your policy is or has been insured.
4. Get driving records of everyone you want in your policy, including yourself.
This includes claims, tickets, violations, and driving courses that have been completed over the past five years.
It’s Time To Get Your Quotation
Once you have gathered all the information you need, use our online quote generator. The lowest cost is not the best coverage for you. You must provide each insurance company with the same information for which you want a quote such as:
- Where do you live
- Desired level of coverage
- Liability level
- Claim history
- Annual mileage
Keep in mind that some states require additional coverage so the minimum coverage will be added. To learn more about your state’s requirements, use this
Note that some states require additional coverage, the minimum additional coverage will be added. View your state’s requirements, using this interactive map of the State Specific Insurance Guidelines.