Find out if combining your auto coverage with your new spouse is a good idea for you.
When you get married, there are a lot of joint decisions that you and your new partner will have to make. One such decision is whether you should keep your separate auto insurance policies or invest in a joint one. Here are some of the things you should consider before making this important decision.
Just Getting Married Could Lower Your Rates
Oftentimes, simply changing your status from single to married will actually result in a decrease in your and your partner’s auto insurance rates. This is because most insurance providers consider married drivers to be less likely to file a claim as compared to single drivers.
Investing in a Joint Policy Could Help You Save
Couples can receive even higher discounts on their auto insurance premiums by switching over to a single policy. Because you and your spouse will only be paying one premium instead of two separate ones, this will likely result in savings. Additionally, having more than one vehicle under a policy generally activates multi-car discounts, which can result in even more money saved on your car insurance.
Sometimes, Combining Isn’t the Best Idea
In some cases, it actually doesn’t make sense for couples to combine their coverage into a single policy. For instance, if one of you has a bad driving record or credit score, keeping your policies separate is probably your best bet. This is because combining coverage for a high-risk and low-risk driver will cause a considerable increase in the low-risk driver’s premiums and end up being more expensive than it would be to simply pay two separate premiums.
Use this information to help you decide whether you and your spouse should combine your auto insurance into a single policy. Do you have additional questions regarding your auto coverage? Don’t hesitate to contact the experts at Pierce Insurance Group for assistance today.