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.

Reviewing Your Insurance Needs With Changes in Life

Insure Your DreamsGetting 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.