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Congratulations! You just tied the knot. Newlyweds have a lot of decisions to make when they get married, such as which Wayzata, MN home to reside in, how to combine their book collections, and how to pare down two sets of kitchenware into one. Most people choose to merge their auto insurance after marriage, too. While combining your insurance policies has some perks, like possible significant discounts and only one bill to pay, there’s a possibility some unpleasant surprises could be lurking in the details.
Why Should We Combine Auto Insurance After Marriage?
The simple answer is that it’s generally easier to pay just one insurer and to have one car insurance payment. If you do decide to combine auto policies, you can choose either of your current insurers or shop for a new one. If you do want to keep your policies separate, each of you should contact your insurer and notify them that you’re married, and add each other to your policies.
Is Auto Insurance Cheaper for Married Couples?
Because statistically, married drivers are involved in fewer collisions and file fewer claims, being married generally results in cheaper rates right off the bat. While discounts for married couples varies depending on the insurer, according to data compiled by Quadrant Information Services (QIS), the average discount a married couple enjoys is approximately 12 percent nationwide and continues as long as you stay married. Not a bad perk for simply saying “I do.”
Can My New Spouse Hurt My Auto Insurance Rates?
If both you and your spouse have good credit scores and excellent driving records, you’ll both get better rates. However, if you have an excellent driving record, your rates may rise if your new spouse has a bad driving record — even with the marriage discount. If they have a bad driving record, bad credit, or have been involved in multiple claims, you can expect your rates to increase.
If you’ve recently gotten married, you and your spouse need to review your insurance policies. Call the Wayzata, MN auto insurance experts at Pizano Insurance today for answers to all your insurance questions.