Life, Love and Car Insurance: Will the Honeymoon be Over When the First Premium Rolls In?
Congratulations! You did it! You tied the knot. You took the plunge. You slipped on a monkey suit of some form or another (bride's dresses count too!) and promised to love, honor and protect your new husband/wife until death do us part. You've gone on your honeymoon. Now you're back, and it's time to get life back to what passes for normal. But are you really ready for that? Or is the honeymoon going to come to a crashing stop when you see the bill for your car insurance?
After the ceremony's over and you've enjoyed a quick break from reality to bask in the glow of being newlyweds it's time to get down to business. There are some things the two of you have to take care of, and one of those is going to be deciding whether you're going to share your car insurance or the two of you are going to maintain separate policies.
Nine times out of ten it makes more sense for a husband and wife to share an insurance policy. Car insurance companies LOVE married drivers. They consider them more "stable." If they only knew! The extra money back in your pocket each month courtesy of plummeting car insurance rates is a bonus, however, that you'd have to be crazy not to take advantage of.
Along with that, consider how much you and your spouse were paying for car insurance each month before you were married. $100? More? Less? The major question is, do you really want to double that? Most of the time it is much, much cheaper to simply put the two household drivers together on a policy. There are certain things you get to double up on, since insurance companies don't want to raise your car insurance rates sky high and drive you off before you've had the chance to write your first premium check!
Added to that, whether you have two vehicles or not sooner or later you're going to end up swapping car keys. If you're both over twenty five that's not such a big deal, but if you're not your current insurance policy isn't going to cover any accidents one or the other of you might have when you're driving each others' cars. Do you really want that bill sitting on top of your recently depleted bank account?
Of course, sharing a car insurance policy isn't all sunshine and roses. If one of you has a black mark (or ten) on their driving record it's going to impact both of you. The same policy holds true for any accidents that take place after you sign on for a new insurance policy.
Bet you didn't think "For richer or poorer" was going to come in the form of your car insurance, did you?
For better or for worse, however, unless one of you has an abysmal driving record and you're determined to keep your finances separate it's going to be better for both of you to just take the plunge, sign on the dotted line and pick up a joint car insurance policy. You'll be glad that you did.
About the Author:
Michael McDonough is a National Account Representative for QuoteScout.com, where they're helping newlyweds get the best possible deal on their car insurance. For more information visit them at http://www.QuoteScout.com.
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