When does it make sense to combine our auto insurance policies?

Generally speaking, most married couples are statistically less likely to get into a car accident, and this can impact your overall car insurance premium in a positive way. Many car insurance companies offer a discount to married drivers. For example, men under the age of 25 statistically have the most expensive auto insurance premiums, and even they receive a discount for being married.

If both partners have a good driving record with few accidents, then combining auto insurance can help to save even more money on their premium. Depending on the circumstances, multi-policy discounts or infrequent driver discounts may also apply, which can further assist in lowering your insurance premium. For example, if you have a homeowners insurance policy and auto insurance policy with the same company, you’ll usually receive a discount. Keep in mind that marriage-based discounts vary from state to state, and some states do not offer a discount, so you’ll want to speak with an agent to find out what discounts you might be eligible to receive.

Does it make sense to keep our policies separate?

Although it does generally benefit married couples to combine auto insurance, there are certain circumstances where it may not make sense to do so. If your new spouse’s driving record is less than perfect, it may be worth investigating staying on separate policies. Adding a high-risk driver onto a low-risk driver’s policy may increase the overall premium, but a multi-car discount could end up evening out the difference in price.

Something you should also consider: even if you keep your policies separate but your spouse has a number of moving violations or frequent claims, your premium could still increase. 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 you a higher risk by association. In some states, if you want to maintain separate policies and avoid a rate increase, it’s worth considering adding a driver exclusion to your policy. This exclusion would prohibit your partner from being covered under your policy, which would keep your rate lower. The drawback: if your partner borrows your vehicle and has an accident, you would be responsible for all damages.

Get the coverage that’s right for you

Whether you’re a newly-married couple who is unsure about the best auto insurance options or just interested in seeing if your current coverage meets your needs, reach out to your local agent for more info. Since car insurance rates vary greatly based on a number of factors, your best bet for finding the right coverage for your unique situation is to speak with your friendly local agent. They’ll help you find out what discounts might apply, as well as answer any questions you may have about any part of the auto insurance process.