Save Money on Auto Insurance by Getting Married

The joy and bliss of marriage can bring happiness for a lifetime to a couple. Let's face it there are other benefits of marriage that don't have anything to do with love. By getting married you usually move into one house, share the grocery bills and file your taxes together. When I was an insurance agent one of the first questions couples asks after they got married is how much it will save them on their insurance.

Here are three ways that you can save up to 45 percent on your insurance just by getting married:

Combine policies
When you move in together the first thing you should think about doing is combining your insurance. If one of you owns a home and you combine your auto insurance with the home insurance together through the same company it can save up to 35 percent. Most insurance companies offer discounts to insure all of your policies with them. This only makes sense as you will save money and not have to deal with different agents for each policy. Even if you just combine your auto policies into one household it can save you up to 20 percent.

Inform your insurance company you tied the knot
Most insurance companies look at a married person as one who is less likely to get into an accident or file a claim. They don't just make this up it is proven by years of actuarial data which shows the number of claims and severity of claims is less for someone who is married. That may sound crazy but don't second guess an actuary as they tend to be very accurate people! While this discount is not as much as combining your policies you will see around 5 to 10 percent savings depending on your age. For example if you are a 23 year old married male driver your rates can be 10 percent less than when you were single.

Get life insurance
You might be asking how buying a life insurance policy can save me money. It may not lower your overall insurance bill but there is a good chance you can get a 10 year term life insurance policy for no additional cost. By simply having your home and auto insurance with one insurer you can save 45 percent but they also offer discounts for adding a life insurance policy which can save you enough money on the other policies to pay for a small term policy. Life insurance is always a good idea and when you get married it makes the other person feel like you care about their future.

Congrats on your marriage, don't forget to add that engagement ring to your home insurance!