Home and auto insurance are often pricey parts of many single individual's budget. However, marriage may help you lower your premium prices in a variety of unexpected ways. If you are planning on getting married soon, you should understand how these benefits work and how getting a new insurance quote can help you get them.
Being Married Could Decrease Your Premiums
Insurance companies often decide on premium rates in funny ways. For example, they often look at a single person as somebody who is less tied down by life and who is more likely to take a risk. Therefore, they will likely give a single person higher premiums than they would to those who are married. In fact, it is estimated that men who get married may see their rates drop by as much as half.
The reasons for this drop are simple to grasp. A married couple is less likely to go through difficult upheavals or changes in lifestyle. It is also less likely that a married person will drive in risky ways, such as drag racing or speeding—especially if they have children. While this might not seem fair to single people, it is simply how the insurance world works.
You can take advantage of this situation by getting a new auto insurance quote the day after you get married. Your insurance provider will take your new status into consideration and will likely offer you a lower rate. In fact, they may even ask you if you are willing to bundle you and your spouse's auto policies with your house policy. If they do, you will want to consider this since it can often be a great deal.
Why Bundling Auto and Home Insurance Could Help Even More
While you can always bundle your auto and home insurance policies together, doing so when you are married is even more effective. Putting all of your policies in one bundle—including your spouse's auto insurance—will drastically drop your payments and may even increase the quality of your coverage at the same time.
Your provider decreases your premiums as a type of loyalty reward. They like clients who provide them with more business and who trust them to handle all of their policies. As a result, they are going to decrease your premiums as a reward. The fact that you are married will only increase their confidence in your stability, which will decrease your premiums even more.
However, you won't get these benefits if you don't take the time to get a new insurance quote from your provider. This new quote may be much lower and could even help with your credit score in unexpected ways. Talk about a great wedding gift!Share