Best Cheap Car Insurance for Married & Unmarried Couples – ValuePenguin

Our analysis found that car insurance costs $123 less a year, on average, for married drivers than for single drivers. Rates go down when you get married because insurers consider married couples to be more financially stable and more risk averse than single drivers. progressive lowered rates the most for married couples, but state farm offered the lowest rates overall.

For most couples, it’s cheaper to combine your auto insurance into a joint policy when you’re married. If one spouse has an expensive car, a low credit score, or marks on their driving record, the rates on a joint insurance policy will likely be higher, but not as high as if this spouse purchased their own individual policy. And no matter what cars you drive or their respective credit scores and driving histories, insurers often offer a multiple-car discount to policyholders who insure two cars under one policy.

We recommend that newlywed couples shop around for auto insurance to get the best rates. If one spouse’s driving history, credit score, or car price differs significantly from the other, we suggest getting quotes for both separate and joint policies to ensure your total costs are as low as possible. .

the cheapest car insurance for married couples

We compared the rates of the top five largest auto insurers by market share and found that the progressively reduced rates reduced the most for married drivers. single drivers paid an average of $2,174 a year, but married drivers paid only $1,835, saving them 16%.

However, state farm offered married drivers the best rates overall, charging an average annual premium of $1,643 for full coverage. however, unlike the other four insurers, the state farm rates for married drivers were actually slightly higher than the rates for single drivers. single drivers paid 1% less, just $1,629 per year.

usaa offers even cheaper rates for current and former military members and their families. USAA’s total coverage is just $1,156 a year for married drivers, more than $500 less than state farm rates.

We collected quotes from a 30-year-old married driver. But by purchasing a joint policy, couples can receive a multi-car discount and lower their auto insurance rates even further.

How does marital status affect car insurance costs in each state?

Car insurance is cheaper when you’re married than when you’re single. Full coverage auto insurance costs $123 less a year for married couples than single drivers – a 5% savings.

Insurers treat divorced drivers similarly to single drivers, offering both groups comparable rates. however, divorced drivers should be aware that credit scores can drop after a divorce and this, in turn, could increase your auto insurance rates.

discounts on car insurance for married couples

However, there are many standard auto insurance discounts that married couples can take advantage of to lower their rates. By purchasing a joint auto insurance policy, which includes both cars and both drivers on one policy, married couples can get a discount for multiple cars. The savings from a multi-car discount are often significant; Geico, for example, encourages married couples to combine policies so they can get a 25% discount on multiple cars.

Also, married couples who own a home or rent an apartment together can get a multi-policy discount by combining their homeowners or renters insurance with their auto insurance.

Young married couples, in particular, should apply for as many auto insurance discounts as possible. Although young married couples with good credit and clean records are likely to pay less than their single peers, insurers charge higher rates to all young drivers because they are statistically more accident-prone and therefore riskier to insure. By maximizing their discounts, young married couples can lower their monthly rates even further.

If they’re married college students, for example, be sure to ask about great student discounts. And if you’re confident that both you and your spouse are safe drivers, consider a telematics monitoring program that shares your data with insurers to prove you deserve lower rates.

Here are some other discounts that all married couples, regardless of age, can take advantage of:

Does your husband or wife have to be on your car insurance?

The short answer to this is yes, almost always. Many insurers require that you list all licensed drivers in a household on your policy, and that includes your spouse.

Fortunately, adding your spouse to your auto insurance policy usually works in your favor. If you buy a joint policy that includes both spouses and both cars, you can get a multi-car discount that lowers your rates.

However, on rare occasions, spouses may want to consider separate auto insurance policies instead of a joint policy.

let’s say you drive a 2015 honda civic, have a clean driving record, and have a high credit score. Your spouse, on the other hand, drives a Ferrari, has a handful of accidents on his or her record, and has a lower credit score. When you combine your car insurance into a joint policy, you’ll likely pay much more than you did as a single driver, but your spouse, who benefits from your clean record, affordable car, and higher credit score, will likely pay Much less than what you paid as a single driver.

If your car price, credit, or driving record differs significantly from that of your spouse, we recommend that you compare quotes from multiple insurers for both joint and individual policies. it’s likely your net cost as a couple is even lower on a joint policy. however, if your costs are lower for separate policies, or if, for whatever reason, you don’t want your husband or wife to drive your car, the best way to do this is to exclude your spouse from your auto insurance policy. /p>

exclude your spouse from your car insurance

Excluding your spouse from your auto insurance means that your insurer will not cover your spouse if they drive your car. To exclude your spouse from your insurance policy, simply call your insurer and ask them to do so. this is what is known as named handler exclusion.

Remember, insurers generally require all licensed drivers in a household to be listed on an auto insurance policy. This means that even if you and your spouse drive separate cars and purchase separate policies from different companies, each of you is expected to include the other on your respective policies, and your rates will reflect your inclusion. Designated driver exclusions allow you to get around this rule and avoid paying more when your spouse’s car, credit, or record would increase your rates beyond what you’re willing to pay.

married couples should also note that not all states allow designated driver exclusions. check your state regulations and check with your insurer before excluding your spouse from your policy.

can you combine car insurance if you’re not married?

If you and your partner live together, many insurers will allow you to buy a joint policy that includes you and your cars. If you decide not to combine your policies, you’ll likely still need to add your partner to your own auto insurance policy if you share a home. By not listing them, you risk being denied coverage if your partner is in an accident in their car. If you don’t want to include your partner on your policy, exclude them.

Keep in mind that while you may be able to get a discount for multiple cars or multiple policies as a boyfriend and girlfriend or engaged couple, insurance companies may not lower your auto insurance rates from the just as they would with a married couple. . furthermore, not all states recognize all types of companies (under municipal, civil or customary law). ask your insurer what, if anything, these state regulations may mean for your rates.

how to combine car insurance with your spouse

If you’ve decided you want to combine auto insurance with your spouse or partner, there are several steps you need to take:

Before contacting insurers, we recommend that you have a candid discussion with your spouse or partner about your driving record, car price, credit score, and previous insurance coverage. If their answers differ significantly, ask the insurance agent for rates for separate and joint policies. although the combination of policies is usually the most affordable option, it is good to check it out.

methodology

Insurance rate data in this study comes from Quadrant Information Services. rates should be used for comparison purposes only, as your own quotes may be different. our sample driver is a 30 year old man who drives 12,000 miles a year in a 2015 honda civic ex.

To calculate the average annual premiums for married and single drivers, we obtained and averaged the rates of the major insurers in each state in terms of market share. Since rate data for married drivers in Colorado was not available, they are excluded from our national average calculations.

To identify the insurance companies with the lowest rates, we used rates from the 29 states where the top five national insurers (state farm, geico, progressive, allstate, and usaa) were available and had a large market share.