Alyssa Lane
There is a statistically significant relationship between marital status and car insurance premiums. Married people are seen as more financially stable and less likely to get into a car accident, and therefore, they typically pay less for car insurance. On average, a married driver pays $149 less per year for car insurance than a single, widowed, or divorced driver. However, if your spouse is a high-risk driver or has poor credit, your insurance premium may increase.
| Characteristics | Values |
|---|---|
| Average insurance cost for married couples | $2,122 |
| Average insurance cost for singles | $2,413 |
| Difference in insurance cost for married couples and singles | $149 |
| Difference in insurance cost for married and widowed | NA |
| Reason for lower insurance cost for married couples | Married people are seen as more financially stable and safer drivers. They are also less likely to file claims. |
| Other factors that can influence insurance cost | Age, credit score, driving history, and vehicle. |
| Things to consider when combining insurance | If your spouse has a less-than-perfect driving record, it may be better to have separate insurance policies. |
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What You'll Learn
Married couples are seen as less risky drivers
Married couples are often considered less risky drivers than their single counterparts. This is because, statistically, married people are less likely to get into car accidents and file insurance claims. This positive correlation results in married couples receiving lower insurance premiums.
There are several factors contributing to this perception of reduced risk. Firstly, married couples often share vehicles and driving duties, leading to fewer miles driven individually compared to single drivers. This reduced time on the road decreases the likelihood of accidents and subsequent insurance claims.
Secondly, married couples tend to exhibit safer driving behaviours. They are more likely to drive together, reducing the number of single-occupancy vehicles on the road, which are statistically more prone to accidents. Additionally, married people may opt for safer cars, such as minivans or SUVs, equipped with advanced safety features like traction control and anti-lock brakes, which further enhances their profile as less risky drivers.
The financial stability associated with married couples also plays a role in their reduced risk perception. They are often viewed as more financially stable than single individuals, which can positively impact their insurance rates. This perception of financial stability may be linked to homeownership, multiple vehicles, or other assets that married couples are more likely to possess.
Furthermore, marriage indicates a level of maturity and responsibility, which can positively influence insurance rates. However, it is essential to note that these are general trends, and individual circumstances, such as driving records and credit scores, also significantly impact insurance premiums for married couples.
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Married people pay less for car insurance
Married people are generally considered to be safer drivers and are therefore more likely to pay less for car insurance. On average, a married driver pays $149 less per year for car insurance than a single, widowed or divorced driver. This is because married people are statistically less likely to file claims, as they are seen as more financially stable and tend to drive safer cars.
There are also other factors at play. For example, married couples are more likely to own multiple vehicles, an RV, or a boat, which can be bundled with their auto insurance. They also tend to share the driving duties in one car, meaning both partners are on the road less than a single person. Additionally, certain models of cars cost less to insure, and safety features can further reduce premiums.
However, it is important to note that if one spouse has a poor driving record or poor credit, it may be cheaper to maintain separate car insurance policies. This is because adding a high-risk driver to a policy can increase the overall premium. In some cases, it may be possible to exclude a spouse from your car insurance policy, but this is not allowed in all states.
Overall, while married people often pay less for car insurance, it is important to consider all the factors that can influence insurance rates, such as age, credit score, driving history, and vehicle type.
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Combining insurance can save money, but not always
Combining insurance policies can save married couples money, but this is not always the case. On average, married people pay less for auto insurance than single people because they are statistically less likely to file claims. Married people are seen as more financially stable and safer drivers. They also tend to drive fewer miles, as they often share a car and ride together.
However, if one spouse has a poor driving record, it may be more financially prudent to maintain separate insurance policies. Adding a high-risk driver to a low-risk driver's policy may increase the overall premium. Some insurance companies consider the driving histories of everyone living at the same residence, which means that having a high-risk driver in the home makes the low-risk driver a higher risk by association. In such cases, it may be necessary to exclude the high-risk spouse from the low-risk spouse's policy, which means they cannot legally drive each other's cars.
Marriage-based discounts also vary from state to state, and some states do not offer a discount. For example, Hawaii and Minnesota prohibit insurers from allowing relationship status to affect car insurance premiums. It is important for married couples to compare insurance options from different providers and consider their unique circumstances before deciding whether to combine their insurance policies.
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Marriage-based discounts vary by state
Marriage-based discounts on car insurance vary by state, and some states do not offer any discount for married couples. For example, Hawaii and Minnesota prohibit insurers from allowing relationship status to affect car insurance premiums. In some states, you may also be able to exclude your spouse from your car insurance, but not every state allows this.
The amount you pay for car insurance is influenced by your age, credit score, driving history, and vehicle. Married people are seen as more financially stable and safer drivers, and they are statistically less likely to file claims. They may also share the driving duties in one car, meaning both partners are on the road less than a single person. Married people may also have safer cars, such as minivans or SUVs, which tend to have safety features that generate discounts.
If your spouse has a poor driving record or bad credit, it may be cheaper to maintain separate car insurance policies or exclude them from your policy. Excluding your spouse from your policy means they receive no coverage when driving your vehicle and cannot legally drive your car. However, if they borrow your vehicle and have an accident, you will be responsible for all damages.
The savings married couples can experience also vary by company, and it depends on the personal factors of the individuals. For example, if one person has a close relationship with their insurance agent, they might want to go with the company that agent represents.
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Married people may have safer cars
Married people are generally considered safer drivers and, therefore, pay less for car insurance. This is because married people are statistically less likely to get into a car accident and file insurance claims. This reduced risk is reflected in the insurance premium. On average, a married driver pays $149 less per year for car insurance than a single, widowed or divorced driver. According to Experian, single drivers pay an average of $2,413 per year, while married drivers pay $2,122.
There are several reasons why married people may be considered safer drivers. Firstly, they may share driving duties, resulting in fewer miles driven overall. Additionally, married couples may be more likely to own multiple vehicles, such as minivans or SUVs, which tend to have advanced safety features. These safety features can generate discounts on insurance premiums. Certain models of cars are also cheaper to insure due to their safety ratings.
While marriage can lead to lower insurance premiums, it is important to consider both spouses' driving records and credit scores. If one spouse has a poor driving record or credit history, it may be more financially prudent to maintain separate insurance policies. In some cases, excluding a high-risk spouse from your policy can keep your rates lower, but this may not be allowed in all states.
Ultimately, the impact of marriage on car insurance rates can vary depending on individual circumstances and the policies of insurance providers. Married couples should carefully review their options and consider taking advantage of multi-vehicle and multi-policy discounts when available.
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Frequently asked questions
Yes, married people usually pay less for car insurance than single people. This is because married people are seen as more financially stable and less likely to get into a car accident or file a claim.
If your spouse is a high-risk driver or has a poor credit score, your insurance premium could increase. In this case, you may want to consider separate insurance policies. However, note that not all states allow you to exclude your spouse from your car insurance.
Compare insurance options from different providers to see if they meet your needs as a married couple. You can use a free car insurance comparison tool online to get personalised quotes from top insurance carriers.
