When you first get married, there are a lot of major decisions to make. Where will you live, where you will bank, and how will your budget are all common questions to ask. One important question is what to do about insurance. For vehicle owners, that means determining what auto insurance policy will work best for you as a new family. A major decision you will have to make about car insurance is whether or not to combine your auto insurance policies. There are benefits to combining and keeping them separate depending on your circumstances. Here is how to decide.
When To Combine Auto Insurance Policies
Generally, it is a good idea to combine your auto insurance policies. Combined policies often lead to lower premiums because the risk is spread across multiple policies. It’s the same reason why combining life, home, and auto together can save you money. Also, some insurance companies offer marriage discounts to their customers. Furthermore married people on average have fewer accidents, so by combining your policies and sharing your marital status with your car insurance company can also help reduce the monthly costs of insurance. The best way to determine if combining policies will offer you and your new spouse discounts is to get a quote from an insurance agent.
When To Keep Auto Insurance Policies Separate
Though combining policies offer most married couples discounts, there are cases where combining the policies is not ideal. The first is if one of you has a poor driving record, while the other has a good driving record. Combining your policies may drive up the premiums. Another example is if your vehicle is used for commercial purposes. Whether it’s a company vehicle or you drive for a rideshare program, it may not be ideal to combine policies. Finally, although you may choose not to combine policies, if you and your spouse plan on driving each other’s vehicles, you’ll need to make sure you are covered on each other’s vehicles. In all cases, the best thing you can do is get a quote from your insurance agent to determine which strategy is best.
Speak To An Agent About Auto Insurance
After you get married, it’s always a great idea to talk to an insurance agent about your new needs. You will have a lot of new insurance needs and will need to determine what plans to invest in to protect your new family. Speaking with an insurance agent will help you understand whether or not to combine policies, keep them separate, or to name your spouse on your policy. Each couple is different and there is no one right way to insure your vehicles.
At Panorama Insurance Agency Inc., we work with hundreds of different insurance carriers. We can help you find the best plan for you and your new spouse. Give us a call and our knowledgeable agents will walk you through your options and help you find the best policy.