Marriage and Automobile Insurance

Marriage affects the automobile insurance of individuals very deeply. When marriage occurs bringing with it the increase in size of the partners' immediate families, there is a corresponding establishment of legal and other responsibilities for the welfare of other persons. The head of household who is the agreed policyholder makes adjustments to any standing automobile insurance policies to include the additions to the family.

Insurance companies often acknowledge the significance of this life transition by offering discounted rates on car insurance for domestic partners when people get married. On the one hand, there is an initial rise in premium because of the increase in the number of people now needing to be insured. On the other hand, however, insurance companies interpret marriage and blending or starting a new family as a sign of potential financial stability, increasing maturity and intensified sense of personal responsibility. They also see within it the promise of increasing opportunities for doing business in the future. Insurance companies plan for the long term.

People getting married will either own or rent a home and will need to purchase other forms of insurance, such as homeowners coverage and life insurance. They will merge, or begin to accumulate valuable possessions together. Children will likely come along at some point who will need to be provided for on a number of levels, including eventually car insurance of their own. Even after these children grow up, the insurance company of their choice could possibly be the one that has been in their family all along. One marriage increases all of these future business possibilities for insurance agents and their parent companies.

Marriage partners will want to negotiate a multi policy agreement to include all the property they hold jointly as this will bring them a reduced premium rate overall. Having the one carrier for the homeowners or renters insurance along with the insurance for all the vehicles owned by the family, and adding in any recreational vehicles such as RV's, boats, motor cycles and the like is a very good idea. Life insurance policies also become a matter of greater importance once a marriage occurs, so this, too, should be added to the multiline policy relationship if feasible.

Important Insurance Considerations for New Families

An increasing number of factors and needs must be among the automobile coverage to be considered when a marriage occurs and a family expands. The bodily injury liability coverage mandated by law is not negotiable, and the family will decide what other lines of coverage they most need. They will choose among collision and towing, for example, and may decide that rental reimbursement is not a priority. There are some, however, that are always a good idea for any family.

Personal injury protection which pays the medical costs and some other expenses resulting from an accident for any person authorized to drive the family cars is a good idea, especially if there is a large extended family. The important thing to know is that it does not matter who is at fault in the accident.

Medical payments coverage could turn out to be an economic lifesaver if there are children in the family. It pays medical costs above and beyond those covered by personal health insurance policies even for passengers riding along in the vehicle. This is another consideration if teenagers will be using the family cars, since it is quite probable that they will at some point be driving their friends. For the same reasons and others, coverage against uninsured or underinsured drivers is a good idea for the newly wed, even if there are no children currently in the marriage.


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