There is a host of factors that could affect the calculation of your car insurance. Not so surprisingly one of them is your marital status. However, getting married could have a positive effect on your premiums as your insurer could reduce it. So, if you are a new young driver who is less than 25 years old then being married makes a lot of difference to your premiums. Your spouse may have a driving history and this does affect your premiums when your combine policies.
What Happens To Your Car Premiums When You Marry?
After you marry it would be a wise idea to combine your car insurance policies as this could significantly give you savings. You may inform your insurer that you wish to insure your spouse’s car on your policy too and get a multi-car discount. When you get separate policies then you may end up paying higher premiums than you would have when you combine policies.
Another logic that insurance companies use is their claim statistics over the years that show that married drivers are more careful than singles. Collision data do point towards unmarried motorists causing more accidents. This is the reason why married couples enjoy lower insurance rates due to the perception of low risk of collisions and violations.
When Should Married Keep Policies Separate?
As soon as you notify your insurance company that you got married and would like to insure your spouse’s car then they look at many records. These include your spouse’s driving history, claims record, at-fault collisions, and accident record etc. In case your spouse does not have a good record then your insurer may consider that a high risk. With more risk involved, the insurance rates would also increase. So, in that case, it may not be wise to combine policies since you may end up paying higher rates. Other factors that could also increase your premiums are as follows:
- If your spouse drives an expensive luxury car model that may increase the premiums
- When your spouse has a high-performance vehicle or antique classic car
- In case your spouse drives more mileage every day each month than you
On the other, if your spouse has, a spotless driving record then it could benefit both of you as your insurer may consider low risk to insure.
Is It Necessary To Inform The Insurer When You Marry?
Yes you must inform your car insurance company when your marital status changes. As per your insurance contract you have to inform about any change in marital status to your insurer as it is a material fact and not just your personal matter. Even if your spouse may not drive frequently there is a chance always that they may use your car. Your insurer does expect you to name your spouse as an occasional driver. Or else in the event of a claim, you could be in trouble when they reject your claim. An emergency situation or other circumstance could arise when your spouse may drive your car. Not informing your insurer that you got married is a non-disclosure of material fact. This could have bad outcomes on your policy and insurability.