Marital status is one of the factors that insurance companies consider when determining car insurance rates. Married people are generally viewed as less risky drivers, and as a result, they often receive lower rates. However, there are some exceptions to this rule, and it’s important to understand how your marital status affects your car insurance premiums.
Why Are Married People Viewed as Less Risky Drivers?
Insurance companies base their rates on statistics and risk assessment. When it comes to driving, married people are generally viewed as less risky drivers than their single counterparts. This is because they tend to have more stable lifestyles, which means they are less likely to engage in risky behaviors behind the wheel.
Furthermore, married couples are more likely to have children, and this can also have an impact on their driving habits. Parents who have children in the car are more likely to be cautious and attentive drivers, which can result in fewer accidents and claims.
How Much Can You Save if You’re Married?
If you’re married, you could save a significant amount of money on your car insurance premiums. According to a study by the Consumer Federation of America, married drivers pay an average of 6% less for car insurance than single drivers. This means that if you’re currently single and you get married, you could potentially save hundreds of dollars per year on your car insurance.
However, it’s important to note that the exact amount you’ll save will depend on a variety of factors, including your age, driving record, and the type of car you drive. Additionally, some insurance companies may offer bigger discounts for married couples than others, so it’s always a good idea to shop around and compare rates.
What About Divorced or Separated Individuals?
If you’re divorced or separated, your car insurance rates may be affected. In general, divorced or separated individuals are viewed as higher-risk drivers than married individuals, which means they may pay higher rates. This is because divorced or separated individuals may be dealing with emotional turmoil, financial stress, and other issues that can distract them while driving.
However, it’s important to note that not all insurance companies treat divorced or separated individuals the same way. Some may offer discounts for divorced or separated individuals who have a good driving record, while others may not consider marital status at all when determining rates.
What About Widows or Widowers?
If you’re a widow or widower, your car insurance rates may also be affected. In general, widows and widowers are viewed as lower-risk drivers than single individuals, which means they may receive lower rates.
However, it’s important to note that some insurance companies may not consider marital status at all when determining rates. Additionally, the exact amount you’ll save will depend on a variety of factors, including your age, driving record, and the type of car you drive.
What Should You Do If Your Marital Status Changes?
If your marital status changes, you should contact your insurance company and inform them of the change. Depending on your new status, your rates may increase or decrease. It’s important to work with your insurance company to ensure that you’re getting the best rates possible.
Additionally, if you’re getting married, you should consider combining your policies with your spouse. This can often result in lower rates, as insurance companies may offer discounts for multiple cars or policies.
Conclusion
Marital status is one of the many factors that insurance companies consider when determining car insurance rates. Married people are generally viewed as less risky drivers, and as a result, they often receive lower rates. However, there are some exceptions to this rule, and it’s important to understand how your marital status affects your car insurance premiums. If your marital status changes, be sure to contact your insurance company to ensure that you’re getting the best rates possible.
