Cheapest car insurance for married couples

The cheapest car insurance for married couples

Bankrate's insurance editorial team used data sourced from Quadrant Information Services to compare average rates for married couples from major carriers. For married couples buying full coverage car insurance, the average annual cost is $2,169; for minimum coverage, the average annual rate is $613.

Based on our research, Geico, Auto-Owners, USAA, Travelers and Nationwide offered some of the most favorable rates, often coming in below average for both minimum and full coverage policies.

Average annual rates for married and single drivers

Average annual rates for married and single drivers

Average annual rates for married and single drivers

Average annual rates for married and single drivers

Average annual rates for married and single drivers

Factors that affect car insurance costs for married couples

Insurers base premium rates on a range of factors based on the statistical likelihood of accidents or other vehicle mishaps. For example, your age is a factor in most states, with insurers looking at data related to the number of accidents for each age group. Young drivers tend to pay more for their coverage because they are more likely to be involved in accidents than older drivers. Here are some other factors that may play a role in determining how much you pay for your car insurance.

Driving record

If you have a clean driving record that has no moving violations on it, you are likely to earn preferential rates on your car insurance. Drivers who have been in accidents, especially if they are found to be at fault, may see higher premiums because of their history of unsafe driving habits. Multiple violations may place you in the high-risk driver category, which can make it harder to find a company willing to work with you.

Credit history

In many states, insurers use your credit data to create a proprietary credit-based insurance score when determining premiums. These confidential scores may indicate to an insurer how likely you are to file a claim. A driver with a credit score in the 700s or 800s is likely to pay less for their policy than someone with a low score in the 500s or 600s. You can improve your insurance score by paying bills on time and paying down debt as quickly as possible. California, Hawaii, Michigan and Massachusetts do not allow the use of credit information when calculating rates.

Location

Your ZIP code also matters when determining your rate. If you live in an urban area, for example, with a high level of car theft and congested traffic conditions that lead to accidents, you may pay more than a similar person in a more rural area. You may also face higher rates in a region that sees harsh weather, such as coastal areas prone to hurricanes. California and Michigan do not allow insurers to use your ZIP code as a determining factor.

Age and gender

As we noted above, your age impacts your rate. In many states, however, gender also plays a role. Why? Because statistically speaking, men generally have more accidents than women. According to the Insurance Institute for Highway Safety (IIHS), male drivers are more likely to speed, drive while impaired and not use their seat belts—which can lead to serious accidents. To counter this, insurers often charge more for policies for male drivers than they do for females. Age is not a contributing rating factor in Hawaii and Massachusetts due to state regulations, and California, Hawaii, Massachusetts, Michigan, North Carolina and Pennsylvania do not use gender.

Your vehicle's age, make and model

You might assume that newer cars cost more to insure than older cars, and this is true in many cases, but it's not that simple. The extensive safety features on new cars may mean they are less likely to be involved in accidents, and this can potentially cause a drop in premium costs. High-tech features on newer cars, however, may require pricey repairs. Foreign cars and high-end sports cars may also be more expensive to repair.

Does being married get me better car insurance rates?

Yes, married couples typically pay lower premiums than single people. In general, insurance companies view married people as financially stable and safer drivers. That can mean fewer accidents and claims.

For a single driver, the national annual average cost of car insurance for full coverage is $2,314, and minimum coverage is $644. Married couples pay an average of 6 percent less for full coverage and 5 percent less for minimum coverage. Keep in mind that the amount you ultimately pay depends on other factors than being married, like your collective driving histories, credit-based insurance scores (in most states), the cars you drive and your claims history.

How to save on car insurance for married couples

Whatever your circumstances, you don't want to pay more for your policy than you need to. Although car insurance is cheaper when married, in general, there are other strategies you may be able to use to reduce your rate even further.

Make use of discounts

Almost all insurers offer at least a small number of discounts, and they may be easy to earn. You could save money, for example, just by agreeing to receive your documents digitally rather than through postal mail. If you're not sure what discounts might work for you, consider talking to a knowledgeable licensed agent to be sure you are receiving all for which you are qualified.

Shop around

It can be a good idea to do an informal audit of your policy at renewal time to make sure it still reflects your needs and wishes. If not, it may be time to shop around to see if another carrier might offer benefits you don't currently have. This might mean a lower rate, more robust customer service or endorsement options that work better for your needs.

Consider your coverage options

Another task you can undertake at renewal time is to take a close look at your coverage options. For example, if you have full coverage, which includes collision and comprehensive to pay for damages to your car, you may decide to eliminate this additional coverage as your car ages and loses value. If you have gap insurance or new car replacement coverage, you may want to delete these as you pay off your loan or when your car is a few years old.

Increase your deductible

If you can afford to, consider increasing your collision and comprehensive insurance deductible. This is likely to result in a premium rate reduction because you are agreeing to pay a higher amount before your coverage kicks in after an approved claim. Be careful you don't increase it more than you could easily pay, however, if the need arises.

Car insurance discounts for married couples

Most companies offer a variety of car insurance discounts to help you save on your premium. While there generally is not a specific “marriage discount,” you may have access to discounts that you did not have access to before you were married.

Multi-car discount

If both you and your spouse own a car, you might be able to get a discount by covering both cars with one policy. The discount can be significant, sometimes as much as 25 percent. It’s also easier to manage one multi-car policy than two single-car policies.

Multi-policy discount

Often called a bundling discount, this lets you save money when you combine all of your insurance policies with one company, potentially leading to discounts. For example, if you use the same insurer for auto insurance and homeowners insurance, you could save money.

Homeowner discount

If you and your spouse buy a home together, it may help you lower your auto insurance premiums. Homeowners are typically viewed as financially stable and lower risk, so companies like Liberty Mutual, Progressive and Travelers offer this discount. Your homeowners and auto insurance do not have to be with the same insurer in order to be eligible for a homeowner discount.

Do I have to add my spouse to my car insurance policy?

While it depends on your insurer, most will require that you add your spouse to your policy once you’re married. In fact, if you are living together before you’re married, you may already be required to add your significant other to your policy by many car insurance companies.

Remember that once you’re married, updating your policy to reflect that will likely mean some small savings on your policy (if all other things remain equal).

If you were not already on the same policy and your new spouse has a bad driving record, a poor credit history (in most states) or a much more expensive car, you could see your premiums go up.

Named driver exclusion

As we briefly mentioned, for the most part, insurers require that any driver living in the same household as you be listed on your policy. Some insurers offer a way around this, letting you list specific excluded drivers. These are people that live in your house but that are not covered by your policy.

That means that if the person drives your car, they won’t have insurance. If they get into an accident, you’ll be fully liable for the damage. It’s also worth noting that most insurers won’t let you list a spouse as an excluded driver. But if you haven’t gotten married yet and live together, it might be an option.

Should my spouse and I have separate policies?

Getting a separate car insurance policy from your spouse is difficult. Few insurers will let you get separate policies unless there are extenuating circumstances, such as living in different states. If you’re in an unusual situation and need separate policies, it’s best to call your insurance agent or company and ask for options.

Frequently asked questions

Methodology

Bankrate utilizes Quadrant Information Services to analyze April 2024 rates for all ZIP codes and carriers in all 50 states and Washington, D.C. Rates are weighted based on the population density in each geographic region. Quoted rates are based on a 40-year-old male and female driver with a clean driving record, good credit and the following full coverage limits:

• $100,000 bodily injury liability per person
• $300,000 bodily injury liability per accident
• $50,000 property damage liability per accident
• $100,000 uninsured motorist bodily injury per person
• $300,000 uninsured motorist bodily injury per accident
• $500 collision deductible
• $500 comprehensive deductible

To determine minimum coverage limits, Bankrate used minimum coverage that meets each state’s requirements. Our base profile drivers own a 2022 Toyota Camry, commute five days a week and drive 12,000 miles annually.

These are sample rates and should only be used for comparative purposes.

Status: Rates were evaluated based on the following marital/family status: single driver on a policy with one vehicle (base) and married drivers together on a policy with one vehicle. Marital status is not a rating factor in HI and MI.

Bankrate Score

Our Bankrate Score considers variables our insurance editorial team determined impacts policyholders’ experiences with an insurance company. These rating factors include a robust assessment of each company’s product availability, financial strength ratings, online capabilities and customer and claims support accessibility. Each factor was added to a category, and these categories were weighted in a tiered approach to analyze how companies perform in key customer-impacting categories.

Each category was assigned a metric to determine performance, and the weighted sum adds up to a company’s total Bankrate Score — out of 5 points. Our scoring model provides a comprehensive view, indicating when companies excel across several key areas and highlighting where they fall short.