Based on several studies supporting the presumption, married couples are generally granted lower auto insurance rates due to the fact that they are typically more responsible, less likely to drive recklessly, and less likely to encounter auto accidents and traffic violations. However, the benefit of lower insurance rates will only apply to the extent that both parties in the couple have fairly good driving records. Personal driving history will usually have the biggest impact on insurance rates, which means that getting married likely won’t reduce your insurance rates dramatically if your driving history is filled with accidents and multiple filed claims.
Although you shouldn’t expect a huge drop, your insurance rates will noticeably decrease with any positive lifestyle event that may testify to your maturity. For example, you should always notify your insurance agent when any big milestone occurs, such as graduating college or having a baby. These milestones indicate that you are much less likely to file an insurance claim, which will be rewarded by your insurance company in the form of lower premiums. Alternatively, if your fiance or spouse has a poor driving record, this could negatively affect you both in terms of your auto insurance rates. Both of your rates could further be affected if one partner continues to get tickets or get into auto accidents. For this reason, it’s important that both parties encourage one another to drive responsibly to avoid insurance hikes.
As a newly married couple, you can also receive insurance discounts by placing both of your vehicles under one policy. This would qualify you for a multi-car discount, which would result in lower rates overall. If you and your spouse have different auto insurance companies, it is always more financially beneficial to combine your auto insurance policies under one company. Another good tip is to combine all of your other insurance policies, such as homeowner’s insurance and commercial insurance, to enjoy savings on these policies as well.