Most people believe there are two factors that contribute greatly to lowering ones auto insurance: turning 25 and getting married. Both of these occurrences appear to be true, as becoming 25 as well as entering a marriage are both strong indicators of maturity and in respect safety. Though many people find this to be at often times ridiculous, there is logic behind an insurance company’s decision to change rates based on being either a single or married individual. In this post, Gregg S. Marcus, a Long Island Insurance Executive explains the reasoning behind why auto insurance companies make this decision.
Auto insurance companies assume if one is married that they are a more responsible person, expecting them to be safer while behind the wheel of a car. This is of course a bias generalization, although studies have shown that individuals who are married are more responsible when it comes to instances such as automobiles and finance, resulting in married individuals being less reckless than those who are single.
Another aspect that insurance companies consider when determining an insurance policy is ones driving habits. Usually when you are married you pay for two drivers, which is incoherently cheaper than two separate policies each. Spouses also usually each have their own car, therefore if one member of the marriage drives less often than the other it would be economically more sensible to take out a cheaper policy on that individuals automobile and vice versa.
When filling out online forms to get a quote you will often see many questions regarding marital status. It is important to answer these questions honestly. Not only do these companies usually ask about your driving record but also that of your spouse, in order to accurately assign a policy that is best for the both of you.
As long as you and your spouse each have a clean driving record and your skills and safety are up to par, insurance companies will be thrilled to give you a low premium. It also helps if prior to marriage your husband or wife had an outstanding financial record with a separate insurance company ensuring that they have established an excellent standing displaying their knowledge and consistency as a good driver. If you or your spouse is interested in a quote on your car insurance in Nassau County or Suffolk County on Long Island in New York, contact Gregg S. Marcus today!