A lot of people take a dim view of things like prenuptial agreements because they think it saps the romance out of a marriage. It makes sense—a marriage is supposed to be a romantic union, not a business proposition. But who said that you can’t have both romance and thrift? Consider this: combining auto insurance policies as soon as you’re married can be an incredibly romantic and financially sound move. And if you doubt what we’re saying, here are just a few examples of how doing so could amp up your love life.
• Combining auto insurance saves you so much money that you can afford to buy your significant other flowers on a whim without worrying the debit transaction will bounce. Bonus!
• You can funnel the money you would have been paying into individual policies into a vacation fund. Trips to the Caribbean aren’t that expensive, you know.
• Take those monthly savings and splurge on a romantic dinner for two. After all, everyone knows that a meal that pays for itself tastes far better than one you’re going into debt to pay for.
You’re probably thinking “Great ideas, but can combining auto insurance really save me that much money?” Heck yes, it can. To find out how auto insurance rates compare for single people as opposed to married couples, you don’t have to make any appointments to visit an agent or wait on hold for hours on end. Just punch your information into an online auto insurance price comparison engine and compare the digits. You might be surprised at what you find.
Getting into a domestic partnership means combining two separate lives. Along with combining each others families, home and finances you can also join your car insurance policies. You can save lot of money on your car insurance premium.
Many of the insurance companies give discounts for married couples. Insurance companies judge that you will be less risky and more reliable after marriage. Men who are single will be charged with high premium because usually they will be riskier drivers. According to the statistics, it is seen that single men less than 25 years are the most risky drivers with lot of violations and accidents. Statistics also show that once they are married accidents and violations are reduced and also their premiums.
Benefited By Marriage
Though married couples may not be eligible for automatic discount from the insurance company, they can reduce their premiums in many other ways. As they share their cars and home together after marriage they share their car garage too, hence they can be eligible for multi-vehicle discount. Married couples share apartment and home along with the cars. By insuring their home and their car with the same insurance company they will be eligible for multi-line discount also. There are also complications by combining the car insurance policy. When they share the car insurance policy, their driving records will also affect their premium.
It could harm your premiums if your spouse is having a poor driving record. You can opt for named driver exclusion which states that your wife will not be covered under the policy when she is driving the husbands car. This would bring your insurance premium low. But while driving the car if your spouse crashes your car then you will have to pay for the damage. You will have to increase your medical coverages if the children are also transporting in future.
Getting insured is been made easy today. You have to know that you are adequately covered at any given time. Besides, there are several stages and circumstances in life which will force one to re-evaluate one’s insurance needs. Marriage, home ownership, moving to another city, retirement and children. These changes must trigger any Ohioan to re-evaluate their insurance.
Stages of Your Life
Job and Career: This is the stage where your focus point is career. There isn’t much of need for every type of insurance. You might want to buy a car insurance to secure your drive and your modest car. If you are single and with no dependents then you might want to own a life or health insurance for health coverage.
Marriage and Home ownership: In your mid life when your relationship status changes from being single to married, making sure your spouse and family are financially covered and protected is very important. You will most likely buy a home and a new or additional vehicle, securing the home with a home insurance and including your spouse’s name and adding that new car in your car insurance policy becomes necessary.
Caring for Your Kids: Your insurance coverage has to be reviewed again when you welcome a new member to your family. With kids running all over in home, you would want to ask for more safety. Also, an insurance provides coverages for any expenses which may occur in future such as children’s activities and pranks, it’s always advisable to opt for plan which suits you and take that adequate coverage for your kids to meet their foreseen future needs. Remember, your kid will grow up to be a teen tomorrow and will wish to drive your car.
Moving Out of State: When you are moving out of state, of course your car is coming with you. It’s important that you consider many of the factors that will determine the price of your new out of state car insurance. Keep your insurance agent informed about the changes you making to your life.
Growing Old and Retirement: Income protection is a concern at this stage in your life. With increase in age, your driving experience also increases. This will certainly avail some discounts on your car insurance. However, effects of aging factor differs from one company to another. If you wish to start a business at home after retirement, you need to include that in your home insurance policy and secure it.