Does marriage affect my car insurance?
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Last updated: 01 June 2021
Getting married has long been known to help you save money on things such as taxes, and the cost of living, but it can also help you save money on your car insurance. Married people are statistically less like to be in road accidents and therefore insurance companies reward this. This guide will take you through how you can save money on your car insurance, both through marriage and alternatives.
How would getting married affect my car insurance?
If you are planning to get married then you’re in luck, as you’ll be able to save money on your car insurance. Studies have shown that married female drivers aged 30 pay on average £200 less than single women of the same age. Even if you are in that traditional ‘high risk’ insurance group (under 25) by putting a ring on your finger you could save money on your premiums.
How is that fair?
Essentially insurers calculate premiums based on probability and statistics. Studies have consistently shown that single drivers are far more likely to be involved in accidents, and therefore they are allowed to charge single drivers more to be insured.
Will getting married automatically reduce my premiums?
The short answer is, no. Although married drivers typically have to pay less for their insurance, this does not happen every time. If, for instance, you have a bad driving history, getting married does not write this off. It is also done on an insurer by insurer basis, so it is important to compare car insurance
before signing a policy.
What if we're together, but not married?
This is where it is key to compare car insurance
providers before taking out a policy. If you are a couple and you live at the same address, certain insurance companies will treat you as if you are married and will therefore change your premiums accordingly.
Alternative Ways To Save On Your Car Insurance
If you don’t want to get married just to save money on your car insurance, here are a few alternative ways you can save:
- Annual Payments: If you can afford it, paying up front for the entire year instead of monthly will mean that you pay less overall. Most people don’t do this as it is a large amount of money, but a useful tip for those lucky enough to be able to spend it.
- Limit Your Miles: When applying for insurance there is an option where you can limit the amount of miles that you are allowed to drive in a year. Fewer miles means less risk for the insurer so they are likely to give you a better rate.
- Car Choice Is Key: Insurance is based on a variety of factors but one of the most important is the what car you drive. Cars are categorised 1- 50 when it comes to insurance, the lower the number your car the lower your insurance. So it might be worth checking what number your new car is and factoring that into the purchase.
- Telematics: One of the most common ways to save money on your car insurance is telematics, or ‘black box’ insurance. Essentially it is a GPS tracker either installed on your car or on your phone which monitors your driving. If you are shown to to be a good driver (keeping to speed limits, not going fast around corners) then your insurer will reward you by lowering your premiums and vice versa.
- Security: Improving the security of your car can greatly influence your insurance both directly through premiums and indirectly through your no-claims bonus. You should consider where you park your car, your alarm system, and maybe even an immobiliser on your steering wheel to make sure you are as safe as possible.
- Shop Around: The most surefire way to save money on your car insurance is to shop around and make sure you are getting the best deal. Especially when it comes time to renew, insurers will often offer the best car insurance deals to new customers looking to switch.
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