Subscribe to The Money StopNews Feed

Browse > Home / News, News-Insurance / Couples that get married need to advise their car insurance company

Couples that get married need to advise their car insurance company

March 21, 2009 by admin  
Filed under News, News-Insurance

Leave a Comment

Industry experts have recently urged couples that get married to let their companies know, stating that if they fail to do this they could be missing out on significant savings on their .

Couples that get married and drive could stand to save a fair amount on their vehicle insurance premiums once they have tied the knot, but many fail to realise this and as such do not bother to let their car insurance provider know about this chance in circumstances.

Experts have said that by declaring their spouse on their insurance policy once they have tied the knot, drivers could save up to 16 percent on the cost of their car insurance cover, which could equate to a small fortune given the cost of vehicle insurance cover at the moment. Drivers will not have to change their insurance policy providing they update their marital statement and have agreed to share the vehicle.

With regards to the cheaper premiums for married couples one industry official said: ‘The reasons for this are quite simple. The risk has been calculated and by having only one driver on the policy there is more risk of accident taking place whilst with a married couple the decision to tie the knot would hopefully suggest they are responsible and more cautious on the roads’.

He went on to state: ‘I hope couples wouldn’t marry just to save on their car insurance but if they were to make that decision they could be in for a saving.’

Recent research showed that with the top ten insurance providers couples that tie the knot could look forward to savings of an average £34 on their car insurance premiums.

Tags: vehicle, Business and Economy, car insurance premiums, marriage and car insurance, car insurance, Usage based insurance

Tags:

Related Entries

  • Newly-weds must update contents cover
    • Newly-married couples in Britain are being warned that they must ensure they have adequate cover for any wedding gifts they receive.We are entering the traditional British wedding season and Churchill Home Insurance is concerned that
  • Should Brits take out loans for weddings?
    • As most married couples will already know getting married can be an expensive affair if you want all the trimmings, and those that are looking to have the perfect wedding, entertain guests, provide food and
  • ‘Review home insurance after wedding’
    • The British Insurance Brokers' Association (Biba) has today revealed that re-thinking home insurance after a wedding is vital.According to Biba, couples are putting many items at risk by not ensuring that they are properly covered
  • Happy couples warned over insurance
    • People in the UK are being urged to check their wedding insurance, as gifts they received on their happy day may not be covered after the cover period expires.According to research by Abbey, 13 per
  • Taxation benefits for married couples
    • Married couples receive financial benefits when both partners have savings in place, claim financial experts. MDM Associates has said there are possible higher tax allowances on pensions and potential inheritance tax advantages from joint savings.
  • Calculis: “No such thing as common law marriage”
    • Calculis, the independent financial advisory, has said today that the idea of a common law marriage is a myth as it is not legally recognised, as many people believe. Director of Calculis Alex Pegley said
  • Couples urged to ‘divide and conquer’ financial responsibilities
    • Couples who take a shared responsibility in their finances are more likely to find themselves in a better position when it comes to their retirement, one financial expert has said. Mike Kalen, president and chief
  • How to Have an Elegant, But Cheap Wedding
    • With the recession in full swing, many couples who have been planning a wedding are looking for ways to save money on this special event and still have the elegant wedding they dreamed of.

Speak Your Mind

Tell us what you're thinking...
and oh, if you want a pic to show with your comment, go get a gravatar!