How does bein married or single affect your auto insurance rates?

Answer 1

The rate charged by insurance companies is based upon actuarial data gathered from all the previous claims paid out. Among the factors are claims frequency & severity ($$s paid), driving history, age, gender, marital status and residence. Some companies also consider credit report , but usually only matters if really bad credit.

Marital status only has an affect on rates until age 21 for women & 25 for men. Some companies vary from this a little.

Some of the reasons why certain factors are responsible for more claims might be debatable such as married people don't party as much....singles are party animals. Easy to joke about, but most married folks do stay home more, or come home earlier even if partying.

The numbers don't lie tho, younger, singles, especially we guys have more accidents. Doesn't apply to everyone, but insurance is all about averages. Some new teenage drivers will never have an accident.....most of them will, so rates are highest for them.

Answer 2

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RE :How does bein married or single affect your auto insurance rates?
Follow 2 answers

Answer 3

The insurance companies think that if your married your going to be more stable and less of a party animal, and that single people will be out partying all the time.

Answer 4

in case you have one forgiveable twist of destiny on your coverage, then you definately're probable ok, except you have yet another at-fault twist of destiny in the subsequent quite a few years. It relatively relies upon on your insurer, and the place you're. some insurers grant 9 years claims loose, so theoretically, your costs ought to pass up the 1st 365 days, and then not sleep till you attain a definite style of years claims loose. So, that $2000 fix charge ought to wind up being a real good deal interior the long-term. using fact the charge isn't hundreds of hundreds now, i does no longer propose putting it by using your coverage.

Answer 5

insurance company's know that if you are married you will be driving while you are either unhappy or stressed out and more apt to have an accident.if you are single you will be happy all the time and much more likely to drive safely because you really care about your health.

Answer 6

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Answer 7

generally, yes, but only to about age 26. i guess then they figure you have settled down a bit. after then is a moot point.

Answer 8

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Answer 9

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