What Newlyweds Should Know About Combining Their Auto Insurance

What Newlyweds Should Know About Combining Their Auto Insurance

What Newlyweds Should Know About Combining Their Auto Insurance

Here are some things to consider before investing in a joint auto policy with your spouse.

If you’ve recently gotten married, there are a lot of major life decisions that you and your partner will have to make. One of these decisions is whether you should keep your individual auto policies or invest in a joint one. Before you decide, here are some things that you need to consider.

Marriage = Lower Insurance Rates

Did you know that simply changing your status from “single” to “married” can actually result in auto insurance discounts? This is because insurance providers consider married drivers less likely to file claims and, therefore, less risky to insure than single drivers. So, even if you do not choose to get a joint auto policy, you and your spouse will still experience some savings on your individual policies.

Combine to Save

That being said, getting a joint auto policy is usually a great way for both partners to save on their auto insurance. When you only have one premium between the two of you, you are almost guaranteed to save. Additionally, having a joint policy can also unlock multi-driver and multi-car discounts as well.

When You Shouldn’t Combine

There are certain cases in which newlyweds should not invest in a joint auto policy. For instance, if one spouse has particularly poor credit or a bad driving history, this will hike up your joint insurance rates. In this case, it’s better to keep your policies separate, as the low cost of one driver’s insurance can better offset the expense of the high-risk driver’s policy.

These are some of the things that you should consider before deciding to invest in a joint auto policy. Do you have additional questions regarding your auto insurance coverage? Contact the experts at Club Agency Insurance Brokerage in Garden City, New York for assistance today.