As a married couple, you have to make a lot of decisions about combining resources. This includes deciding if you want to be on the same car insurance policy. Some insurance providers give an automatic discount to married couples, but others make it a little tougher. In fact, some may see a problem that will lead them to shower your union with bigger premiums.
Car insurance providers typically lower rates for people with good driving records. Some companies view married people as being safer drivers in general. So, if you just ask, they may add a discount to your premium simply for being married. In 2013, State Farm dropped insurance rates for men under 25 after they're married. Esurance offered discounted rates for domestic partners.
Even if your insurance doesn't consider marriage discount-worthy, it may give you a break if you combine your multiple cars under one policy. For example, in 2013 Geico knocked 25 percent off the total cost for couples with multiple-car policies. You might get a discount too if the insurance carrier covering your car also handles your life and home policies.
When It Doesn't Work
There are situations when combining insurance policies could drive your rates up. Let's say your spouse has a poor driving record. He may be viewed as high risk and thus be charged higher premiums. That also applies if he's had to make numerous insurance claims or drives an expensive sports car. Even if your own record is spotless, the company treat you both as one big risk.
You may want to buy a larger-sized car or van when you have children. Combining your insurance won't be the best decision then since your premiums would jump to suit the bigger ride. But, if you think you'll be driving around other people's children too, you'll want to budget for increased liability coverage. Depending on the provider, this could give you a less scary rate hike than buying it for two separate policies.
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