How Marital Status Influences Car Insurance Rates

Studies conclude that being married could help you save money on car insurance in most states. As it happens, the difference between married and single rates is fairly large. Like it or not, the general perception among insurance providers is that married couples are more stable in all areas of their life and, therefore, tend to be safer drivers. Find out more about how marital status influences car insurance rates and get free car insurance quotes online from our website.

@ photo1Generally, some insurers see married male drivers as relatively more responsible than young single ones, which data suggests are more likely to be involved in drinking while driving incidents. The basis for this idea comes from a widely cited 2004 study by the National Institutes of Health, which showed that singles were twice as likely to get into motor accidents as married car operators. Insurers like State Farm also acknowledge that rates drop for men under 25 when they tie the knot.

Married drivers over age 30 also receive lower rates, yet those prices are not as favorable as what married people between the ages 20 and 25 receive. Car insurance rates for married over-30-year-olds only falls about 2 percent, the study found.

When you get married, consider the best way to handle your car insurance. Married couples often assume it’s best to combine their policies. Insurance companies bank on the fact that if they take good care of their auto policy customers who are married, those customers will be more willing to purchase the rest of their insurance products from them.  Understand, however, that combining policies doesn’t automatically lead to savings.

One additional factor to consider is financial stability. While this principle is not as concrete as it once was, it’s still perceived among insurance companies that married couples are more financially stable. Financial stability means a lot to an insurance company because car insurance is easy to put on the bottom of the list during times of financial trouble.

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