Apparently Getting Married Makes You 'Responsible
I found some interesting information about car insurance apropos marriage. It would seem that many insurance companies regard you as a more responsible person once you have wed! I have reproduced the information for you below
How marriage can affect car insurance premiums
There are many ways to save money on – but did you know that getting married is one of them?
So just why do married motorists get cheaper car insurance and how can you ensure you’re making the most of your marital status?
Why do married drivers earn cheaper car insurance?
Car insurance companies base their premiums on the risk of you making a claim – the more likely you are to make a claim, the higher your premiums will usually be. This takes into account a number of factors including your driving history; your address – such as whether you live in a high crime or busy traffic area; the vehicle you drive; your annual mileage; and your personal circumstances.
Among the personal circumstances that are considered (alongside factors such as whether you have any medical conditions and your occupation) is your marital status. It is the belief of many insurance companies that married drivers are better drivers because the added responsibility of married life means they are more likely to drive more carefully.
To illustrate the gulf in premiums, we took the case of one 30-year-old driver from Cheshire who owns a 2005 Ford Focus ST with five years’ no-claims and a £250 policy excess. First we ran premiums with a comparison website based on the assumption that the driver was married. Then, we ran quotes using the same statistics, but with one difference – this time the driver was single.
Though the cheapest premium the driver was quoted - £548.20 – remained the same whether he was married or single, 4 of the 10 cheapest quotes became more expensive based on the driver being single as opposed vscat to married. A quote for £643.41 rose to £682.79, and there were similar increases of around £40 from four other providers listed in the top 10. According to research from a comparison website in March 2009, drivers could save up to 16 per cent on their car insurance by being married.*
Multi-car insurance and its benefits
Another potential advantage of being married when searching for car insurance quotes is that if both you and your spouse have vehicles you could take out a multi-car insurance policy.
Multi-car insurance is designed for anyone with two or more vehicles in the same household – you don’t necessarily have to be married, the policies are even available to single drivers who own more than one vehicle. Indeed with some insurance companies you may be able to insure as many as five vehicles under one policy. By bringing more business to the insurance company, discounts are available and could be as high as 23 per cent depending on the provider.
While the discounts can be substantial with a multi-car policy it is still important to check the levels of cover available and compare these deals to taking out policies individually – there may be greater savings available elsewhere.
In addition, consider the following:
- Excess: This is your contribution towards a claim – check whether the excess levels differ depending on the car that’s being insured.
- No-claims bonus: If a claim is made by another driver on the policy, will you lose your no-claims bonus? Generally only the driver making the claim is affected on a multi-car policy but you should still check.
- Renewal dates: Though it can be an advantage to only have to remember one renewal date, you may wish to consider a monthly payment option in case it is too expensive to pay for all the vehicles included on the policy at the same time.
Additional ways to save on car insurance
While getting married will put you in a good position to save on your car insurance, you shouldn’t forget the other ways to save including:
- Choose a higher excess: Opting for a higher voluntary excess can lower premiums, although it should be kept at a level you can comfortably afford.
- Choose the right car: Older cars with smaller engines generally qualify for the cheapest premiums.
- Increase security: Consult your insurer about which security devices it recommends – such as alarms, trackers and immobilisers – as they could potentially earn you discounts on your premiums. Park your car in a locked garage overnight too, if one is available, as this could also earn a discount on your premiums.
- Pay annually: You could avoid monthly interest charges by paying premiums upfront.
- Pick the right options: Read the terms and conditions carefully to ensure you’re getting the right level of cover for your needs. There’s no point paying for options you don’t require – for example don’t pay for “business”
*All statistics correct as of January 25, 2010.
About Superior Motor Cars
Superior Motor Cars have the finest selection of classic wedding cars in Yorkshire. We pride ourselves on the quality and range of cars available for wedding car hire – take a look at our wedding transport galleries showing the cars in action as well as some shots of the cars under restoration. Our classic car hire services are available throughout North Yorkshire, East Yorkshire, West Yorkshire, South Yorkshire, Harrogate, Leeds, Hull, Scarborough, Malton and the closer areas of adjacent Counties. Ring us on 01759 368544 to arrange to view the cars. Visit us at http://www.superiormotorcars.co.uk