Is it a myth or reality that your marital status has an impact on your auto insurance rates? In this blog post, we will dive into the truth behind this question and help you understand if your marital status has an impact on your auto insurance premiums.
Does Being Married Impact Your Auto Insurance Rates?
Insurance companies take several factors into account when calculating auto insurance rates. Your driving record, age, car type, and location are a few factors that affect the cost of your premium. However, your marital status is another factor that insurers also consider.
In general, married individuals usually get lower auto insurance rates. The reasoning is that research suggests that married individuals have a lower risk of an accident than single drivers.
Being married may imply that individuals are more responsible on the road, take fewer risks, and generally have a higher respect for traffic laws.
Also, marriage often signifies more stability in someone’s life, which helps reduce the risk of being in an accident.
Married couples also tend to get into fewer accidents than divorced or widowed individuals. As a result, auto insurance companies view married couples as lower-risk drivers, which translates to lower premiums.
What You Need To Know
The influence of marital status on auto insurance premiums varies from state to state. Some states such as Hawaii, Michigan, and Massachusetts have laws that prohibit insurance companies from charging higher rates based on the marital status of an applicant.
At the same time, remember that your marital status is just one among many variables that determine your auto insurance rates. Being single doesn’t mean you can’t find affordable auto insurance quotes!
Several factors, such as credit history, driving record, age, and location, can also influence the cost of your premiums. You can still qualify for discounts if you’re a responsible driver and have a clean driving record, regardless of whether you’re married or single.
It is also worth mentioning that some car insurance providers offer bundling deals for married couples. You can save money by combining your policies and getting discounts on both auto and home insurance.
Moreover, adding a spouse to your policy can help you save money on your auto insurance premiums, especially if both have good driving records.
RF1 Insurance Services: Auto Insurance in Southern California
Looking for auto insurance you can rely on? At RF1 Insurance, we work with some of the world’s most trusted insurance companies, including Safeco, Guard, Stillwater, National General Premier, Aegis, and the California FAIR Plan.