Married vs. Single Car Insurance Comparison [2023]

Uniting in holy matrimony certainly has its advantages, among them being the cost of car insurance. Why do married couples pay less for car insurance?

In order for car insurance companies to determine how much to charge individual customers for their policies, many different factors must be taken into consideration.

Some of these factors include:

• the make and model of the car
• how often it’s driven
• what state it’s registered in
• how much coverage needed

Your search for online car insurance quotes begins when you enter your zip code into the box now!

Defining Risk

As far as car insurance companies go, risk is defined as the potential of any given driver to be the source of a claim against it either through his own actions or those of another person.

In other words, the insurer must ask himself how likely it is he will end up paying a claim that is greater than the premiums a driver paid in. The risk-to-reward ratio has the most influence on individual car insurance prices.

Right off the bat, a brand-new or young driver is assigned to a risk pool based on his age and lack of driving experience.

One who drives safely for the first few years, with no accidents or violations, is likely to be moved to a lower risk pool around the age of 21.

On the other hand, the opposite is also true. The more accidents and violations one is guilty of, the higher the risk potential will be which means paying more for insurance.

Safety Comparisons: Married Drivers vs. Single Drivers

In terms of married car insurance and single car insurance, married people have a decided advantage when it comes to auto insurance rates.

Like it or not, the general perception among insurance providers is that married couples are more stable in all areas of their life and, therefore, tend to be safer drivers. In turn, this makes insurance cheaper for couples.

Although extensive research is not completely conclusive on the question, statistics tend to suggest this line of thinking is mostly correct.

Between men and women, men will see the greatest difference in auto insurance premiums once they get married.  Young male drivers between the ages of 18 and 21 are considered the highest-risk drivers on the road.

Even at 21, when insurance rates begin to drop, men are considered a higher risk until roughly age 35 but getting married in early to mid-20s will quickly reduce their perceived risk and lower their annual premium for car insurance. When looking for car insurance, it’s important to compare car insurance rates for women and men to ensure the best coverage and prices.

Factors Other than Safety

There are some other things insurance companies consider regarding the cost of married car insurance and single car insurance.

One of those things is the likelihood that married couples will need other insurance products that can be bundled together. For instance, married couples are more likely to purchase a home and carry life insurance.

Insurance companies bank on the fact that if they take good care of their auto policy customers who are married, those customers will be more willing to purchase the rest of their insurance products from them.

Most insurance companies provide additional discounts to married couples who bundle all their insurance needs.

One additional factor to consider is financial stability. While this principle is not as concrete as it once was, it’s still perceived among insurance companies that married couples are more financially stable.

Financial stability means a lot to an insurance company because car insurance is easy to put on the bottom of the list during times of financial trouble.

If you are shopping for insurance as a single person, maintaining a clean driving record will help you obtain the most affordable rates. Also, you should ask your insurance company about any auto insurance discounts that might apply to you. There are a variety of discounts that would apply to married couples as well.

Compare the car insurance rates of married and single drivers by entering your zip code right now!

Case Studies: Married vs. Single Car Insurance Comparison

Case Study 1: John and Sarah – Married Couple

John and Sarah are a married couple in their late 20s. They both have clean driving records and own a home. They decided to bundle their car insurance with their homeowner’s insurance. As a result, they were able to secure a discounted rate for their car insurance policy. The stability of their marriage and their financial situation played a role in the lower premiums they received.

Case Study 2: Emma – Single Driver

Emma is a single driver in her early 30s. She has maintained a clean driving record and has been a responsible driver. Despite her good driving history, Emma pays slightly higher premiums compared to married drivers. Insurance companies perceive married individuals as more stable and statistically less likely to engage in risky driving behaviors.

Case Study 3: Michael and Lisa – Newlyweds

Michael and Lisa recently got married in their early 20s. Both had individual car insurance policies before their marriage. After tying the knot, they decided to merge their policies into a joint one. This resulted in additional savings and discounts offered by the insurance company. Their marital status signaled increased stability and a reduced likelihood of risky behavior, leading to lower premiums.