Insurance Rates Married Vs. Single

Types of Insurance

• Marital status typically only affects auto insurance, although marital status rating may be used to determine life or homeowners' insurance as well.
  
  

Cost

• Typically, married applicants are charged lower insurance premium rates than single applicants.
  
  

Financial Stability

• Married applicants tend to be more financially stable than single applicants, so they are less likely to file questionable claims out of a need for money.
  
  

Risky Behavior

• Insurance companies see married policyholders as less likely to engage in risky behavior, which reduces the chances that they will have accidents and file claims.
  
  

Multiple Vehicles

• Because married couples typically insure their vehicles with the same company, they can save money in the form of policy discounts. Insurance companies often offer a discount of 5 percent or more to policyholders who insure multiple vehicles under the same policy.