March 16, 2010

Things To Consider When Combining Your Auto Insurance Policy With Your Spouse’s Policy

If you’re thinking of getting married, or have just gotten married, one of the things to consider when planning your new life together is the issue of insurance; auto insurance being one of those insurance policies requiring attention. As a married couple, it is possible to combine your insurance into one auto insurance policy. However, there are things that need to be taken into account before making the decision to do so. For one thing, if one partner has a bad driving record, it could severely affect the auto insurance quotes for the premium of the other partner, even if he or she has an exemplary record themselves.

Another factor that could adversely affect a joint insurance policy is if one partner drives a vehicle such as a sports car or any other vehicle that is deemed ‘high risk’, regardless of previous records. Be sure to get an auto insurance quote for both partners separately, as well as an auto insurance quote for both combined. And, of course, shop around – get as many individual auto insurance quotes for you individually and together from as many different companies as you can before making a final decision and committing to anything. You should also be aware that once you make the decision to combine your auto insurance, you will need to check with your insurance company to find out if both names need to be added to every vehicle possessed; in some cases can even extend beyond things such as motorbikes and even include vehicles such as boats.

One good thing to consider when shopping for your combined car insurance quotes, however, is that many companies will offer car insurance quotes featuring substantial discounts for couples. Many companies consider married couples to be a lower insurance risk than singles – statistics show that married couples are involved in fewer accidents and are safer drivers, and will thus offer lower rates. Also, you are considered to be a ‘less active’ driver if there are two of you, which likewise bring the cost down. There is also always the possibility of other advantages for couples such as multi-line or additional volume discounts.

Driving will be made simpler and more cost-effective to both of your, or it could be wiser to stay on separate plans. While it may sound complicated, in truth, evaluating your decision as to whether or not to take out a joint auto insurance policy really is not all that taxing. All it requires is to follow the basic principles as laid out above, and you will quickly determine whether or not a joint insurance policy is, or is not, financially beneficial for you and your partner.