How Relationship Status can Affect Your Insurance Premiums

Shopping for insurance is a difficult task. You have so many decisions. Not only do you have to choose the right insurance provider, and whether you want an agent or just wish to work with the customer service department, there are tons of little things that affect the price of your insurance. One of the things that can affect the premiums you pay is your relationship status. It may seem strange, but going from single to married, or vice versa can change the price you pay for your coverage. Learn more about why this is, so you can better prepare for what you may have to pay for insurance.

Not all companies offer a discount, but several companies will give significant savings on car insurance for married drivers. The reason for this is that, by the numbers, married people are usually safer drivers than those who are single. While this can be frustrating for single drivers, those who are married reap the benefits of this discount.

Some people see this discount as discrimination; however it is perfectly legal for this type of discount to occur. Insurance companies offer discounts for other things such as drivers over 25, those who insure multiple vehicles, safe drivers and even normally charge less to insure women than to insure men. The insurance companies are in the business to make money, so it only makes sense that they charge more for drivers that have been show to statistically cause more accidents—in this case drivers that are single.

While you may not want to change your relationship status just to save money on your insurance, there are other things you can do to save money on this necessity. Talking to an agent, instead of just working with a company through the phone or internet will often help you find those little discounts you may not have realized.

The most important thing to remember is that if you make changes in your life, including changing your marital status, you need to update your information with your insurance company. This will make sure you have the coverage you need at the best possible price. Whether you are single or married, getting the best price possible is vitally important.

Ways to Keep Insurance Premiums Low

Keep Your Premiums LowInsurance premiums can rise over time as they fluctuate with the market. However, insured people can work to keep their insurance premiums low by reducing their risks, selecting a deductible, grouping coverage, and comparison shopping before renewing a policy.

Reduce Risks

Installing a wood burning stove in a home can raise home insurance rates by increasing the risk of fire. On the other hand, using safe practices and taking action to reduce risks can reduce rates. Installing alarm systems in homes and vehicles, for example, can reduce the risk of theft and lower insurance premiums.

Select a Deductible

Having an insurance policy that covers all expenses can be an enormous convenience when needed. However, some people will find that they pay much more for their premium than their out-of-pocket expenses for repairs or replacement. Selecting an appropriate deductible amount can lower insurance premiums and result in lower out-of-pocket expenses overall.

Group Multiple Types of Coverage

Selecting a group of insurance policies from a single company, such as home, vehicle and life insurance, can result in premiums that are lower for the group than if the coverage was purchased individually.

Comparison Shop and Change Companies as Needed

Each time insured people renew their policies, they have the opportunity to comparison shop and change to new providers if they discover one that offers a lower premium for the right coverage. Many people assume that because their provider offered the best deal initially, they will continue to do so. This is not always the case, and it can pay to verify or dismiss that assumption before renewing.

Insurance rates and policies will vary between insurance companies, so it is best to consult with them regarding the actions you can take to reduce rates to discover which are most applicable.

Lowering Your Home Insurance Premiums through Improved Security

Lower Your Insurance PremiumOne of the things you’ll learn when you go to compare home insurance quotes is that houses that have alarm systems typically pay far less for coverage than houses that don’t. The reasons why are easy to understand. A home that’ll send up flashing lights and screaming bells and make automatic calls of distress to the police is a lot less likely to get burglarized than one that’ll sit silently as it’s being violated.

But not just any old alarm system will do the trick of lowering your monthly fees, as you’ll likely find out when doing an insurance rate comparison online. And there are other things you can do in addition to installing a burglar alarm that will lower your insurance rates.

• Spring for a home security system from a trusted, brand name company.

• Ensure that every single entry point in your home is alarmed, including your garage door. Extending your security system to your garage may also play a factor in lowering your car insurance premiums.

• Replace all of the locks on doors and windows throughout your home, and don’t skimp on cost. The more money you spend on high quality, unbreakable door and window locks, the lower the rate you’ll see reflected when you compare home insurance quotes.

• Talk to the insurance company to ask if they have any preferred security providers. You might discover some additional savings if you go with a home security company that’s endorsed by the home insurance provider of your choice.

Home security’s no place to mess around. If you’re concerned about the safety and well-being of your family and your stuff (as all smart people should be) you’ll consider all anti-theft measures, regardless of how they impact your home insurance premiums.

Does a Second Car Mean Double the Car Insurance Premiums?

Quotes on Auto Insurance for Multiple CarsWhether you’re adding your spouse’s car to your policy, buying a car for your teen driver, or finally have enough money for that Jeep Wrangler you’ve always wanted to off-road in, you’re probably wondering if you’re looking at double the car insurance premiums. Though for each of these scenarios the costs will be different—if you’re smart and shop around for quotes on auto insurance, you probably won’t be paying twice what you are now. In fact, the difference might not be anyway near what you expect.

Quotes on Auto Insurance for Multiple Cars
The first thing to do is to contact your current insurance carrier and ask for quotes on auto insurance for multiple cars. If you have a family plan, most carriers offer discounts for your spouse’s car and any child under twenty-five. If you want quotes on auto insurance for a second car that only you will drive, your carrier will usually offer you discounts so long as your driving record is clean—and for any additional cars, you’ll get more discounts. Depending on the insurance carrier, discounts for multiple cars can be as much as 25%, so it’s well worth getting different quotes on auto insurance before you agree to a policy.

Financing Your Second Car
If you’re financing a second car, you’ll see in your auto insurance quotes that discounts don’t apply. You’re still paying off a loan on the car, which means you’re required to provide full insurance coverage until you’ve made the final payment. However, you can still shop around for the best quotes on auto insurance by contacting AgentInsure. With AgentInsure, you can find the best quotes on auto insurance for financed cars, as well as multiple car discounts!