Newly Married? Here's How You Can Save On Car Insurance
Posted on: 1 August 2017
Even though traditionally, car insurance payments go down after you get married, there are other areas where costs rise, so any kind of savings can be a benefit. If you are hoping to cut your insurance premium down even further to help you get some wiggle room in your marital budget, consider using the following advice.
Keep Your Record Clean
Even though your marital status can give you a little bit of a break on insurance, the thing that will affect your rates the most will be your driving history. If you have a clean driving record, do everything you can to keep it that way. Keep the speed limit, avoid moving violations, and -- if you can -- steer clear of dangerous routes, like specific intersections, that have a history of higher collision rates.
If your record is not stellar, you can still do your best to clean it up. Don't get any new marks against your record, and try to wipe out the old record by driving clean until you reach a lower risk age bracket. For example, if you married in your early twenties, you'll still be paying higher premiums because you're in an age group that has a higher risk of accidents. If your record is clean when you reach age 25, however, you'll see a drop in your payments.
Choose a Safe Vehicle
The type of vehicle you insure is another factor that will affect your marital rate. Sports cars generally cost more to insure, but so do flashier, newer vehicles with more features. Older, reliable vehicles with good handling and low accident rates are more sensible choices. If you really looking to shave a few dollars off your newly-wed budget, choose a vehicle that will be cheap to insure.
Another thing to consider with insurance is not the value of the car itself, but the safety features. For example, if a car has a high safety rating, you could pay less. This is one reason why married people may see savings -- it's not just because of their relationship status, but because they choose family vehicles designed for the safety of children.
Consider a Separate Policy
If you both have average vehicles and clean driving records, a combined policy can be the best thing for your finances. However, if you are outmatched in car value and driving record, keeping your policy separate may save you money. For example, if you were in two accidents and have three tickets in the last five years, your premium will be high. If you have a fancy SUV on top of that record, the premium will be even higher. If your spouse drives a ten-year-old Toyota Camry and has a clean record, their premiums will be lower. To put yourself as an insured driver on both cars may cost you much more. You'd have to stick to your respective vehicles, but if the savings are great, it could be worth it for the time being to have separate policies.
Consider Where You Live
Many newlyweds have several changes in address in the early years as they move for employment, graduate and doctoral programs, of family matters. Where you live will affect your policy. Even if you move from a downtown studio apartment to a two bedroom apartment in a more residential, family-oriented neighborhood in the same city, you could see a difference in savings just because the risk of accident is lower.
For more information on what policy would be the best for your new spouse and yourself, contact an insurance agency in your area. You can find the best price for your budget.
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