Car Insurance for Married Couples: A Complete Guide

Did you know that getting married can affect your car insurance rates? According to a study by InsuranceQuotes.com, married drivers pay an average of 11% less than single drivers for car insurance. This is because car insurance companies consider marital status as one of the factors that determine your risk level and premium.

But why do car insurance companies care about your marital status? And how can you find the best car insurance policy for you and your spouse? In this article, we will answer these questions and more, including:

• Benefits of joint car insurance for married couples
• Drawbacks and alternatives of joint car insurance for married couples
• Tips for finding the best car insurance for married couples

By the end of this article, you will have a clear understanding of how to get the best deal on car insurance for married couples and enjoy the savings and convenience that come with it.

Benefits of Joint Car Insurance for Married Couples

One of the first things you should do after getting married is to review your car insurance options with your spouse. You may be able to save money and simplify your life by purchasing a joint car insurance policy.

What is joint car insurance?

Joint car insurance is a type of policy that covers both you and your spouse as drivers on the same vehicle or multiple vehicles. It allows you to combine your coverage, liability limits, deductibles, and discounts into one policy. It also allows you to share one bill and one claims process.

Why is joint car insurance beneficial?

Joint car insurance can offer several advantages for married couples, such as:

• Lower rates: Married drivers are generally considered safer and more responsible than single drivers by car insurance companies. This means they are less likely to get into accidents or file claims, which lowers their risk level and premium. By purchasing a joint car insurance policy, you can take advantage of this lower rate and save money on your car insurance.
• Higher discounts: Joint car insurance policies can also qualify you for higher discounts than separate policies. For example, you can get a multi-car discount if you insure more than one vehicle on the same policy, or a multi-policy discount if you bundle your car insurance with other types of insurance, such as home or renters insurance. These discounts can add up to significant savings on your car insurance.
• Simpler billing: Joint car insurance policies can also make your life easier by simplifying your billing process. Instead of paying separate bills for separate policies, you can pay one bill for one policy. This can help you avoid late fees, missed payments, and confusion.
• Easier claims: Joint car insurance policies can also make your claims process easier in case of an accident. Instead of dealing with multiple insurers, adjusters, and deductibles, you can deal with one insurer, one adjuster, and one deductible. This can help you speed up your claims process and get your vehicle repaired or replaced faster.

How much can married couples save on car insurance?

The amount of money you can save on car insurance as a married couple depends on several factors, such as:

• Your age
• Your gender
• Your driving record
• Your vehicle
• Your location
• Your coverage level
• Your insurer

According to a study by The Zebra, the national annual average cost of car insurance is $2,014 for one driver, whereas the average cost of car insurance for a married couple’s policy is $1,898 for one vehicle. This means that married couples can save an average of $116 per year or $9.67 per month on car insurance compared to single drivers.

However, this is just an average figure based on national data. Your actual savings may vary depending on your personal situation and rating factors. To get a more accurate estimate of how much you can save on car insurance as a married couple, you should compare quotes from different insurers and see what rates they offer.

Drawbacks and Alternatives of Joint Car Insurance for Married Couples

While joint car insurance can offer many benefits for married couples, it may not be the best option for everyone. There are some drawbacks and alternatives to joint car insurance that you should be aware of before making a decision.

What are the drawbacks of joint car insurance?

Joint car insurance can have some disadvantages for married couples, such as:

• Higher liability: Joint car insurance policies mean that both spouses are legally responsible for each other’s actions behind the wheel. This means that if one spouse causes an accident or gets sued, both spouses could be held liable for the damages or legal fees. This could put both spouses’ assets and income at risk.
• Shared driving record: Joint car insurance policies also mean that both spouses share the same driving record. This means that if one spouse has a bad driving record, such as speeding tickets, accidents, or DUIs, it could affect the other spouse’s car insurance rate and eligibility. This could make it harder or more expensive to get car insurance as a married couple.
• Potential divorce complications: Joint car insurance policies can also complicate matters in case of a divorce. If a married couple decides to separate or divorce, they will have to cancel their joint car insurance policy and get separate policies. This could involve paying cancellation fees, losing discounts, and facing higher rates as single drivers.

When is joint car insurance not the best option for married couples?

Joint car insurance may not be the best option for married couples in some situations, such as:

• When one spouse has a bad driving record: If one spouse has a bad driving record, such as multiple violations, accidents, or claims, it could raise the car insurance rate for both spouses on a joint policy. In this case, it may be cheaper to get separate policies and avoid the rate increase.
• When one spouse has a high-risk vehicle: If one spouse has a high-risk vehicle, such as a sports car, a luxury car, or a modified car, it could also raise the car insurance rate for both spouses on a joint policy. In this case, it may be cheaper to get separate policies and avoid the rate increase.
• When one spouse has a separate address: If one spouse has a separate address, such as for work or school purposes, it could also affect the car insurance rate for both spouses on a joint policy. In this case, it may be cheaper to get separate policies and avoid the rate increase.

What are the alternatives to joint car insurance for married couples?

If joint car insurance is not the best option for you and your spouse, there are some alternatives you can consider, such as:

• Separate policies: You and your spouse can get separate car insurance policies and keep your coverage, liability limits, deductibles, and discounts separate. This can help you avoid the drawbacks of joint car insurance and save money if one of you has a bad driving record, a high-risk vehicle, or a separate address.
• Adding a driver: You or your spouse can add the other as a driver to your existing car insurance policy. This can help you share coverage and discounts without getting a joint policy. However, this option may not be available if one of you has a bad driving record or a high-risk vehicle.
• Excluding a driver: You or your spouse can exclude the other from your existing car insurance policy. This can help you avoid sharing liability and driving record without getting separate policies. However, this option may not be available in some states or with some insurers.

Tips for Finding the Best Car Insurance for Married Couples

Now that you know the pros and cons of joint car insurance and the alternatives to it, you may wonder how to find the best car insurance policy for you and your spouse. Here are some tips to help you find the best car insurance for married couples:

• Shop around: Compare quotes from different car insurance companies and see what options they offer for married couples. Look at the coverage limits, deductibles, add-ons, discounts, and customer reviews of each provider and policy.
• Bundle your policies: If you have other types of insurance, such as home or renters insurance, you may be able to save money by bundling them with your car insurance policy. Many car insurance companies offer discounts for customers who have multiple policies with them.
• Take advantage of discounts: Besides bundling, there may be other discounts you can qualify for as a married couple, such as multi-car discount, safe driver discount, good student discount, low mileage discount, or loyalty discount. Ask your car insurance company about the discounts they offer and see if you are eligible for any of them.
• Drive safely: One of the best ways to save on car insurance as a married couple is to avoid accidents and claims. Driving safely can help you lower your risk of getting into an accident and keep your premiums low. It can also help you earn rewards or bonuses from some car insurance companies or employers.
• Maintain a good credit score: Your credit score can affect your car insurance rates, as car insurance companies use it as a factor to determine your risk level and reliability. Having a good credit score can help you get lower rates and better terms for your car insurance policy. To improve your credit score, pay your bills on time, keep your credit card balances low, and check your credit report regularly for errors.
• Review your policy regularly: Your car insurance needs and rates may change over time, depending on your driving habits, vehicle, location, and marital status. You should review your car insurance policy at least once a year and update it if necessary. You should also shop around and compare quotes from different providers to see if you can get a better deal.

Conclusion

Getting married can have a significant impact on your car insurance rates and options. You may be able to save money and simplify your life by purchasing a joint car insurance policy with your spouse. However, you should also be aware of the drawbacks and alternatives of joint car insurance and see if they suit your situation better.

The best way to find the best car insurance policy for you and your spouse is to shop around, compare quotes, and take advantage of discounts. You should also drive safely, maintain a good credit score, and review your policy regularly.

If you are a married couple or plan to become one, don’t wait any longer. Get insured today and enjoy the benefits of finding the best car insurance for married couples.