If you are like so many other drivers out there, you may have heard that drivers often get a major discount off the cost of their auto insurance premium when they get married. The fact is that some insurance companies do give a true discount based on your marital status. Others, however, do not, but do give you discounts based on other aspects of your new driving scenario as a married couple. When you are starting out your new mobile car detailing life together as a married couple, you certainly don’t want to start out paying more than you need to on car insurance. So you do want to take some time to learn more about what is going on.
Multiple Car Discount
Many newlyweds have been surprised to learn that their insurance company doesn’t offer a true “marriage discount,” but instead the discount is based on adding another vehicle to the policy. If you and your spouse both owned cars before you got married and had separate auto insurance policies, you may find that by combining both cars onto the same policy can trigger a multiple car discount. Most major insurance companies offer this discount, and it can be rather significant. To get the best rate, you will want to not just get a quote for coverage from both of your existing insurers, but you will also want to shop around for coverage from other insurers who also offer this discount.
Multiple Drivers on the Policy
Of course, not every married couple has two cars. Some people live in communities where they are able to make use of mass transit, use a bike as their many mode of transportation, or even walk to work and local stores. Yet one of the newlyweds may have a car as well as an existing insurance policy. In some cases, it may be better to keep only one driver insured on that vehicle. However, in other cases, you can save money by adding a second driver to the policy. This is especially true of the second driver is over the age of 25, has a clean driving record, or can trigger other discounts such as a student driver discount.
A True Marriage Discount
Some insurance companies do not ask for marital status at all on an application for insurance, while others do. For instance, Geico does not currently ask about marital status and do not offer a marital discount. Other insurance companies, such as State Farm for one, not only ask for this information but do offer a discount for being able to mark “Married” as a response to your marital status on the insurance application. You will want to contact your current insurance company as well as your new spouse’s insurance company to see which insurer will offer you the greatest savings on your new marital status.
Multiple Policies Discount
When you were single, you likely didn’t give much thought to getting a life insurance policy. However, now you have a spouse who will be left behind if you pass away. Many newly married couples who are making changes to their auto policies will also consider adding life insurance coverage, too. Many auto insurance companies like State Farm and AllState, to name a few, will offer you a discount on your auto coverage if you also obtain a life insurance policy with them. Likewise, you may also be able to obtain a discount on your auto insurance coverage if you add a renter’s or homeowner’s policy. If you do not have renter’s insurance right now, or if you are considering buying a new home together in the near future, you will want to take time to learn about how these coverages can save you money.
Other Ways to Save
In addition to benefit from a marital discount or from related discounts such as adding another car or another driver to the policy, you and your spouse may be interested to learn that there are some additional ways you may be able to save on the cost of your insurance coverage. One way that most people can enjoy savings from is by paying for your premium in one lump sum rather than paying for it monthly. Most insurance companies charge a monthly administrative fee that may equate to $100 or more in fees over the course of a year. By paying in a lump sum, you can save a decent sum of money. You can also consider taking a driver’s safety course together, as some insurance companies offer a savings of 10% or more on your premium by taking this course. State Farm offers its own Steer Clear program, which provides you with savings after watching their safety own safety video.
The fact is that each insurance company treats marital status a bit differently. Some disregard marital status entirely and instead offer married couples additional benefits for adding multiple drivers or multiple cars to a policy. Others do provide you with a true marital discount, and may also add additional discounts to your policy for adding multiple drivers and multiple cars to the policy. In addition to these discounts, you and your spouse can look into other ways to cut down on your insurance costs, such as by getting life insurance policies through your current insurance company or paying your premium in one lump sum. You may find that when you combine several of these discounts together, you can truly enjoy the most affordable auto coverage for you and your spouse. Because each insurance company treats marriage differently and also offers different discounts that you and your spouse may qualify for, you will want to shop around and get quotes from several insurers to find the best deal possible.