The institution of marriage is one of the oldest social institutions in the world. It has historically been encouraged for the many positive aspects it brings to our society. Children who grow up in a two-parent home are viewed to be more stable and have less instances of delinquency than their single parent home counterparts. Marriage has shown to reduce stress and increase longevity. One area of your life that benefits from marriage but is seldom mentioned is your auto insurance.
But why would insurance companies offer lower premiums to married couples? The answer may be summed up in two general ways:
Married people are considered less risky
When you are married, your priorities change to include those of your spouse. You no longer have only yourself to think about. Be it consciously or subconsciously, married people tend to be more cautious than their single counterparts. Most individuals with children tend to drive more carefully especially when the children are in the car with them.
Insurance companies are aware of this and introduce driver discounts for married people. Now, being married does not automatically negate other important factors such as your driving record that may affect your premiums and may not necessarily translate into paying less for your insurance. Check with your insurer to see if you may get this advantage in your policy.
Married people tend to have more stuff to insure
Typically, when you have a family, the chances of having more than one vehicle are higher. If you and your spouse choose to use the same insurer to cover your vehicles, you may qualify for a discount on your premiums. If you are insuring more than one driver i.e. your spouse and eligible children, you may also get a discount for the same. If your insurance agency covers more than just automobiles, you may get discounted rates for insuring your other valuables such as your home.
You can reap lots of benefits if you fit several of the demographics that insurers typically award discounts to. For example, if you are a male individual who is over 25 years old working as a scientist in a metropolitan region with lots of public transportation, and is married, there are several discounts you can glean from your insurance agency. If you have all these and a good driving record, you will reap even more rewards from your auto insurance.
If the reverse is true, that is you are married but have a poor driving record or have many traffic violations, live or work in an area where public transportation is not reliable or available, then being married may not give you as much benefits as you would like.
Before you go rushing to the altar with the aim of lowering your premiums, do your research first. Find companies that offer these kinds of discounts within your geographical region. Once you have found a few of these, compare their rates to get the best one that suits your needs. All in all, comparisons will help you reap great benefits.