Your marital status can play a significant role in determining the cost of your car insurance. While it may seem surprising, being married or single can influence the premiums you pay. In this post, we’ll explore why car insurance rates are often lower for married couples and what factors insurers consider when setting premiums.
How Marital Status Impacts Car Insurance
Insurance companies take various factors into account when calculating your car insurance premiums, including your marital status. Statistically, married individuals are considered less risky than single drivers. Married drivers tend to file fewer claims, which leads insurers to offer them lower premiums. This trend holds true across many insurers, as they use data to determine how risky a driver might be.
Why Insurance Companies Favor Married Drivers
The main reason married couples typically pay less for car insurance is that insurers view them as more stable and responsible. Studies show that married drivers are less likely to be involved in accidents or traffic violations. This lowers their risk profile, which is why they often enjoy discounts.
In addition to stability, married couples are also more likely to bundle their policies, such as combining home and auto insurance, which leads to further discounts from insurers.
Are Same-Sex and Transgender Couples Affected Differently?
In most cases, same-sex married couples receive the same car insurance rates as heterosexual couples, as long as other factors remain the same. For married transgender couples, while the situation is more complex, they generally won’t see significant differences in their premiums compared to other married couples.
Should Married Couples Get Separate Policies?
Although having separate policies might seem like a good idea if one spouse has a much different driving history, it is usually more cost-effective for married couples to combine their car insurance into a joint policy. A joint policy can save you money while simplifying management, but there are exceptions. If each spouse has a vastly different driving record or vehicle, separate policies may be the better option.
State Regulations and Car Insurance
It’s important to note that not all states allow insurers to base rates on marital status. States like Hawaii, Massachusetts, and Michigan have laws that prohibit insurance companies from considering marital status when determining car insurance premiums. Be sure to check your state’s regulations to understand how your rates might be affected.
Car Insurance Costs for Single vs. Married Drivers
On average, married drivers in the U.S. pay around $1,381 per year for car insurance, while single drivers typically pay more—around $1,467 annually. This difference of $86 is mainly due to statistical data showing that single drivers tend to file more claims than married drivers.
Divorced drivers, however, often face higher premiums, averaging around $1,467, due to a higher likelihood of filing claims. Widowed drivers may also experience an increase in their premiums, with their average annual costs at about $1,431, as they are statistically more likely to be involved in accidents.
Why Is Car Insurance Cheaper for Married Couples?
The lower cost of car insurance for married individuals is primarily due to perceived lower risk. Insurers assume that married drivers are more responsible and less likely to engage in risky behavior. Married couples also often benefit from bundling multiple policies together, which can result in discounts.
If both spouses have a clean driving record, the combined policy could lower rates even further. While this trend generally holds true, it’s important to remember that other factors like age, vehicle type, and driving history also play a significant role in determining your premium.
Final Thoughts
In most cases, married couples pay lower car insurance premiums than single drivers, due to the lower risk they present. This doesn’t mean that single individuals are penalized—it’s simply a reflection of statistical trends. No matter your marital status, there are steps you can take to minimize your car insurance costs.
At Econosurance, we’re here to help you navigate the complexities of car insurance, whether you’re married or single. Contact us to find the best coverage at the best rates for your specific needs.
FAQs
Does being married lower car insurance rates?
Yes, married drivers generally pay lower premiums because they are seen as less risky and more stable by insurers.
Can married individuals get individual car insurance?
Yes, married individuals can choose separate policies. While bundling policies often saves money, separate policies might be beneficial depending on driving records and personal preferences.
Can I exclude my spouse from my policy?
Yes, it is possible to exclude your spouse from your car insurance policy, but they won’t be covered in case of an accident. It’s important to consider the consequences before making this decision.
Should I add my spouse to the policy?
It’s usually beneficial to add your spouse to your car insurance policy if both of you have good driving records, as it can result in lower premiums and potential discounts.
