How Being Married Equals Lower Car Insurance Costs

The thinking in the insurance industry is that if you are married you are likely to be more responsible than you were when you were single.

This means married people are considered less of a risk – and from that follows the car insurer’s conclusion that you deserve a lower premium.

Somehow, this all goes wrong when you live with someone.

If you and a partner live together as a normal, loving couple with all the benefits of marriage without the actual status, then you are still single, so you are insured as a single driver in a higher risk category.

Stop a minute before you rush out and buy a ring and propose – yes single and married people do have a cost differential on their car insurance premiums, but sometimes it’s only a few pounds and not a drastic reduction.

If you get married, be sure to call both your insurance companies if you and your partner are drivers and ask for a requote on your policy. Not all insurance companies will alter your premium, but it’s worth the try.
You and your spouse have other car insurance benefits once you are married:

• If you have a maximum no claims discount and decide to stop driving, you can switch the bonus to your spouse so they can benefit.
• If you have business use on your policy and cannot drive the car, then your spouse can have the cover as well
• You may also benefit from increased death and injury cover with some insurers

Don’t forget if you do marry, this could change your risk address as well, which is a change in circumstances you should notify your insurance company about.

The ‘risk address’ is the place where your car is parked overnight for most of the year. If you marry, it may well be that if you have not lived with your partner that one of you is changing your risk address.

The postcode of this address is one of the main factors in calculating your premium, because the crime rate for theft and vandalism in that area weigh high on the factors an insurance company considers when working out what you should pay.

Often when you marry, as a couple you will have two cars. You need to consider arranging the cheapest insurance for both of you – whether this is through one company or separate policies.

You can compare car insurance premiums, policy features and benefits by using a car insurance comparison service.

Wedded bliss doesn’t always reduce your insurance premium.

If you or your new partner had poor driving histories prior to the day you tied the knot, the fact you are married will not bring down your insurance costs overnight.

However, if you both start driving more responsibly and don’t add any more penalty points to your licences or claims, over time you will build a better driving history and a no claims discount that could help cut the costs of your car insurance.