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.
When an insurance company quotes you a price for a homeowners insurance policy, they are doing more than just reviewing your age and personal records — they’re also evaluating the way your house was built. For instance, the type of materials that your home is constructed with can easily raise your premium, especially if they’re considered high-risk in the insurance industry.
Here are the top three things an insurance agent looks at before deciding on the price of your homeowner’s policy:
- Is the frame of the house wooden? One of the first things that an insurance company will look at before quoting you a price is the structure of your home. If the frame is primary constructed out of wood then you will probably end up paying more for insurance than you would if you had an all brick home.
- How much of the home is custom built? Many of the popular upgrades present a financial risk because they are costly to replace. For instance, if you have recently upgraded your kitchen, you may end up paying more to renew your policy because the cabinets could be expensive to restore in the event of an emergency.
- Is the home outdated? If the plumbing, roofing, or electrical wiring of your home is older, you may end up paying a higher price to insure it because older homes typically have more problems. The best thing you can do if you own an older home is to have it inspected so that all of its components remain up to code.
However, there’s no reason to panic if your home fits any of the above criteria. Almost all insurance companies offer multiple types of discounts that can be applied to your policy, so make sure you inquire about them before you sign the contract.
People compare auto quotes all the time, going over the fine print of their proposed insurance agreements until that fine print becomes nothing more than a blur. But while there are many things that you can look for to ensure you’re getting the cheapest quote on auto insurance, it’s what you do behind the wheel that really has the biggest impact on how much you pay—as well as what you don’t do. Avoiding certain behaviors, like the ones below, are your best bet to avoiding accidents and securing a cheap car insurance rate.
- Reading at the Wheel: That’s right, reading at the wheel. You may be thinking to yourself right now (or even shouting it aloud) “Who the heck reads while they’re driving??” But the fact is, there are more people out there than you’d care to imagine who enjoy breaking up the monotony of a long drive by busting out their favorite paperback. If you absolutely have to keep up with the latest adventures of Harry Potter and friends, just make sure you’re listening to the audiobook while you drive.
- Working at the Wheel: The busybody never stops, even when it’s time to settle down and pay attention to the road ahead. Talking on the phone to clients, reading and responding to email, and jotting down notes are common activities of people who turn their cars into extensions of their office.
- Grooming at the Wheel: We’re all guilty of taking quick glances in the rearview mirror to make sure our hair isn’t too tousled, but the vast majority of us do this while stopped at a light, or waiting for a pedestrian to clear our path. And yet from time to time, you’ll actually witness people grooming themselves while in full motion, whether it’s the guy in the Camaro combing his hair or the lady in the Focus applying eyeliner at 65 mph.
You can compare auto quotes all day, but that fact is you’re probably wasting your time if you partake in any of the activities listed above. Sooner or later, your accident record will start to cost you heavily.
So you’ve got a stack of parking tickets big enough to earn you a spot on the local PD’s wall of shame. You may ask yourself from time to time: how will this affect my car insurance premiums? The answer is: not at all. Parking tickets, on their own, are essentially a non-concern with respect to car insurance premiums.
This isn’t to say that getting one parking ticket after another is a good thing. Just because a parking ticket isn’t a moving violation and doesn’t qualify as the type of infraction that impacts car insurance premiums, doesn’t mean that it can’t ultimately come back to bite you. For one, failure to pay your parking tickets could result in suspension of your license—and that can have a big impact on your insurance premiums.
The answer? Pay your fines, and pay them promptly. You’ll likely find plenty of so-called experts or online resources that’ll tell you there are some parking tickets that you should pay, and others that you should avoid (such as tickets received from private companies versus tickets actually received from the police department). But in order to avoid complications that could result in losing your driving privileges and negatively impact your car insurance premiums, you must pay for your transgressions—and resolve to do better next time. It may take a chunk out of your bank account today, but when you consider what you could be saving in the long term on car insurance premiums, it’s a chunk worth parting with.