For many of us, it’s the moment we have been looking forward to our entire lives. It’s a day unlike any other – our wedding day. With that day comes a life’s worth of expectations, unequaled happiness and let’s face it, a whole lot of stress. Once the day has come and gone newlyweds must eventually turn to their attention to the more mundane details of life – to things like car insurance.
We realize that when one pictures martial bliss, shopping for new car insurance together isn’t the first thing that springs to mind. However, auto insurance is a necessary expense and now that you are joining your lives together (which can include your personal finances) it is something that needs to be dealt with, sooner rather than later. The good news is that this process doesn’t need to be difficult or time consuming. Actually, purchasing car insurance can be rather painless and in the end, could wind end up saving you money. And what newly married couple couldn’t use some extra cash?
When looking for cheap car insurance, there are a number of things newlyweds should consider:
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Raise Your Deductible
There is one obvious financial advantage to being married. Dual incomes! Due to the current economic climate of today’s world, most newlywed households contain two wage earners. This potential surplus in income gives newly married couples advantages when it comes to auto insurance. One of these is the ability to raise your deductible. Now of course, there is an inherent amount of risk that comes with having a higher deductible.
Essentially, you don’t want to have a deductible amount that is more than you can afford to pay if you need to file a claim. But with a joint income, it is likely that a newlywed couple can manage to pay more if need be. Thus, the risk that is associated with a higher deductible is lessened. And as many of us are aware, with a higher deductible comes lower premiums. If a newly married couple practices safe driving habits, over time this higher deductible/lower premium combination will save them some major cash.
Drop Coverages
Due to the fact that in today’s America both husband and wife have to work full-time, usually each spouse has their own car. However, this reality presents another opportunity to save money on car insurance. We suggest dropping coverages on one of the vehicles. For example, let’s say when you are married, one of you has a brand new SUV and the other a five-year-old Honda Civic. In such a case, you could drop collision coverage on the Honda. Now again, doing this does involve some element of risk, but since your household has two vehicles, it is a sensible option. So if your (newly minted) household has two vehicles, contemplate dropping collision coverage on the older vehicle. The potential monetary benefit makes such a gamble more than worth it.
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Look For Discounts
Did you know that simply by being married you save money on car insurance? It’s true. On average, married couples pay lower auto insurance rates than their single counterparts. The reason? Well, car insurance companies have determined (based upon decades of statistical research) that married couples are less likely to file insurance claims. Since married couples present less of a risk to auto insurance companies, they are rewarded with lower rates. So when you were married not only did you earn a lifetime of unadulterated bliss, but also you get a lifetime of lower car insurance premiums!
Besides these reduced rates, newlyweds should also seek out insurance discounts that they now may be eligible for. Discounts such as the “multi-car” and “multi-line” are a great way to reduce your annual auto insurance premium. You earn the “multi-car” discount by having more than one vehicle under the same auto insurance company. This discount can be as much as 10% off the premium. The “multi-line” discount works in a similar fashion, but you qualify for it by combining your different coverages with the same insurance company. For instance, if you combine your health, life, and auto with the same insurer, you can see a discount of between 10% and 20%.
Comparison Shop For Car Insurance
Above all else, newlyweds need to be proactive when deciding upon their car insurance needs. Newly married couples must explore their options before settling upon an auto insurance company. The best way of locating the best available car insurance for your budget is to comparison shop here at Cheap Quotes Car Insurance. We have partnered with the nation’s top insurance companies so that you can get multiple insurance quotes all at one convenient place.
All you need to do is fill out an online quote form and within minutes you’ll have a car insurance quote. We recommend filling out at least three quote forms so you can compare rates and decide which car insurance is best for you and your new family. And why not? After all, it’s free and takes only minutes. This is a joyous time for you and your mate. Why not make it even better by finding the best car insurance for the least amount of money?