How to Compute Married Couple Car Insurance Needs

It's always a good idea to check your coverage when facing any life change, but it's especially important when starting a new life together. Here is the best way to compute your needs for car insurance as a married couple.

Difficulty:

Moderately Easy

Instructions

1. Combining both cars under one policy can save you up to 30 percent over your individual policies. Insurance companies also reward married people because they believe they are a better risk than singles.

2. Review your liability insurance needs. Your joint assets may total more than the coverage you now have. That could cost you in the event of a serious accident.

3. Let your agent know of any change in marital status so she can help you find the coverage you need at a rate you can afford. Do this not only when you get married, but also if you get divorced or if your spouse dies.

4. Look at the driving records of both spouses. Know that an insurance company will review the driving records of both you and your spouse to determine your eligibility, your needs and your rate. The spouse with the bad record should think about taking a safe driving course in order to qualify for lower premiums. Typically if you have more than three speeding tickets in a three-year period, your car insurance premiums will increase.

5. Take advantage of other discounts for credit history, education and driving record.

6. Consider going with a different company than your existing policies. You may find a lower rate.

Tips & Warnings

• Research current insurance scams and beware of too-good-to-be-true rates.