August 14, 2022
  • August 14, 2022

Auto insurance by marital status

By on December 3, 2021 0


Getting married is life-changing for a variety of reasons, but one impact you might not initially consider is a change in your auto insurance rates. Typically, married people pay less for auto insurance than single drivers, but that’s not always the case – and it’s not always a substantial difference. Several factors determine the amount of premiums you pay, and marital status may be just one of many. Insurers not only see married drivers with a different level of risk, but there may also be additional discounts that married drivers can claim.

Does marital status have an impact on auto insurance?

One of the questions you will need to answer when applying for auto insurance is whether or not you are married. Marital status is one of the many factors that affect the cost of insurance premiums, although the impact is generally small. Insurers assign rates based on risk, and married people are generally considered to have a stronger financial base than single people, which reduces their insurable risk. This means that auto insurance rates can be lower when you are married.

Some states do not allow marital status to be factored into the cost of insurance premiums, as in Hawaii, Massachusetts, and Michigan. It is also important to note that your premiums are based on several personal factors, including where you live, the vehicle you drive, the kilometers driven per year and your driving record. Depending on the state you live in, your credit score or your gender can also be a factor.

Car insurance rates according to marital status

The table below shows the difference a married driver could pay compared to a single driver. The rate is based on the national average cost of full coverage auto insurance per year. A licensed insurance agent can provide you with a more accurate quote of your individual rates, whether you are married or single.

Civil status Average annual premium for full coverage automobile insurance
Only $ 1,674
Married $ 1,625

Auto insurance for married drivers

When you get married, your premiums may decrease. You will usually need to add your spouse to your policy or submit a request for a new policy and add them as a driver. In rare cases, you and your spouse may have separate policies, but most carriers require that all eligible drivers living in the household be added as a driver. With that in mind, there may be little or no financial benefit to keeping your policies separate.

Primarily, simply switching from two separate policies between you and your spouse to a single shared policy will generally reduce overall expenses. It is generally cheaper to have two people and two or more cars on the same policy than to have a different policy for each car, especially since both spouses will need to be added as drivers.

Not only does being married increase the chances of earning lower premiums, it could help you earn additional discounts. Although a “married person’s discount” is not common, there are a number of discount options that you are likely to qualify for once you get married. This could include a policy bundle, multi-driver, or multi-car discount. When you get married, be sure to submit the changes to the insurance provider and take advantage of any discounts available.

Average cost of auto insurance for married drivers

Average annual premium for full coverage automobile insurance
40 year old married woman $ 1,618
40-year-old married man $ 1,633
national average $ 1,625

Auto insurance for single driver

Gender can also be factored into auto insurance rates in addition to marital status. The graph below shows the differences between the average annual premiums for 40-year-old single drivers and male drivers with a full coverage policy, based on Bankrate’s 2021 survey of annual rated premiums. Typically, married female drivers pay less than married drivers, but 40-year-old single female drivers can pay the highest full coverage rates on average. Otherwise, insurance rates for men tend to be higher at almost all other ages.

Single drivers also have access to a variety of discounts, including safety equipment on their vehicles, loss-free driving, auto-pay, or discounts for good students. A licensed insurance agent can provide you with accurate quotes for your individual policy while making sure you take advantage of as many discounts as possible.

Average cost of auto insurance for single drivers

Average annual premium for full coverage automobile insurance
40-year-old single woman $ 1701
40-year-old single male $ 1,648
national average $ 1,674

Car insurance rates by marital status and company

While individual fares are based on each driver and may vary, the table below illustrates the difference married drivers can pay compared to single drivers. These rates – collected from Quadrant Information Services – were taken from top auto insurance companies, based on market share size.

Average annual premium for full coverage automobile insurance

Auto insurance company Only Married
Allstate $ 1,921 $ 2,039
Geico $ 1,405 $ 1,359
Progressive $ 1,509 $ 1,376
State farm $ 1,457 $ 1,456
United States $ 1,225 $ 1,031

Does Divorce Affect Auto Insurance?

Divorce can affect the amount you pay in auto insurance premiums. When you are married and live together, you are the joint owner of the contract. However, when you divorce and live in separate houses, you will need separate policies. This can have an impact on your rates when you apply as an individual. If you have children who have access to vehicles insured by you or your ex-spouse, it is important to ensure that they are added to both policies as a driver to ensure proper coverage.

Frequently Asked Questions

What is the best auto insurance company?

Finding the best auto insurance company is possible if you are prepared to do a bit of homework. When comparing insurance providers, maybe start with vendor customer service ratings, financial strength ratings with AM Best, the digital experience online or through the app, and consider coverage options and discounts. This will help you decide which provider is best suited for your situation and your driving needs.

Can I get married and stay on my parents’ auto insurance policy?

Once you are married, most insurers require that you purchase your own policy. An exception to this can be if you are still living with your parents while you are married. While having a policy for you and your spouse always makes sense, you should also be added as a driver or household member to your parents’ policy. It is often best to purchase your own policy, especially if you decide to move on your own.

Should I add my spouse to the car contract?

Almost all insurers will require you to add your spouse to your policy after you are married, simply because of the high likelihood that your spouse will be driving your vehicle. While it is possible to maintain two separate policies for your vehicles, each policy must include both spouses, and some insurers will require all vehicles in the household to be listed on the same policy. In addition, it is generally financially beneficial to insure both your vehicle and that of your spouse on the same policy, rather than having a separate policy for each vehicle.

What factors determine my auto insurance rates?

Auto insurance rates vary from person to person due to the many personal factors involved. Not only can the condition you reside in affect the cost, so can the vehicle you drive, the number of kilometers you drive per year, and your driving record. In some cases, your credit score, gender, and marital status are also taken into account.

Methodology

Bankrate uses Quadrant Information Services to analyze 2021 rates for all zip codes and carriers in all 50 states and Washington, DC Rates shown are based on a 40 year old male and female driver with a clean driving record , good credit and the following comprehensive coverage limits:

  • $ 100,000 of civil liability for bodily injury per person
  • $ 300,000 in civil liability for bodily injury per accident
  • Civil liability for property damage of $ 50,000 per accident
  • $ 100,000 in bodily injury caused by an uninsured motorist per person
  • $ 300,000 in uninsured bodily injury per accident to a motorist
  • $ 500 collision deductible
  • Global deductible of $ 500

Civil status: Rates were assessed based on the following marital / family status: single (basic), married, 40-year-old married male and female with a 16-year-old teenage driver.

To determine the minimum coverage limits, Bankrate used a minimum coverage that meets the requirements of each state. Our basic profile drivers own a 2019 Toyota Camry, commute five days a week and cover 12,000 miles a year.

These are sample rates and should only be used for comparison purposes.