Auto Insurance Rate — Three Life Occasions That Can Really Affect It

March 26, 2009

By system

There are some times in our lives that are really significant. Some of these things bring changes for the better but can affect our auto insurance rates.

Auto premiums are all affected by marriage, divorce, and the death of a spouse. Dependent on the event, it could significantly change your insurance premiums. Before panicking, just reevaluate a few things, sometimes change can be good!

Insurance premiums are reduced after marriage. Insurance companies assess people that are married as less risky. Expect to see some favorable modifications in your policy after you say, “I do.”

People that are not married pay more for insurance premiums.
Insurance companies recognize more risk when people are not married. Rates can also climb if you forfeit any discounts.

To minimize the burden increase your deductible. Reducing your policy from full coverage will save you quite a bit.

It is best to speak to your agent and see what they advise. A lot is offered on the Internet that can really help you on this.

Retirement usually brings an insurance price cut. Not traveling to and from a job will allow cheaper premiums. However, watch the age factor because after a certain age seniors pay the highest insurance rates.

Seniors that do away with a car and only insure one will surely save some cash. Senior citizens are encouraged to take advantage of any refresher classes that are offered. These are designed for seniors to refresh their driving proficiency. However, they often show up as a savings for you when you take advantage of them.

Talk to your insurance representative regarding these optional courses. They should have all of the information needed.

Everyone’s case will differ, you should be aware of that. While a divorce may boost your insurance rates, it also may not.
If your spouse had a bad driving record or was considered high risk, you could stand to save.

If you marry someone that has a DUI on their record being married would not show any savings. These are standard only and in classic conditions. Outcomes can vary greatly so keep that in mind. When you are faced with them it is always best to see how your auto insurance may be affected.

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