How Does Marriage Affect Auto and Home Insurance Rates?

First comes love, then comes marriage, then comes an evaluation of your insurance policies. Wait . . . what? That last part doesn’t sound like much fun—until you realize that getting hitched might save you money on insurance. Cha-ching!

Homeowners Insurance: Married vs. Single

If you're moving under one roof for the first time, you’ll need only one renters or homeowners insurance policy, which could save you both some green. Of course, when adding your spouse to your insurance, make sure to update the policy so it covers both your belongings and those of your partner.

Auto Insurance: Married vs. Single

Is car insurance cheaper if you’re married? It turns out that married men tend to be more responsible drivers, partly due to less drinking while driving. And some insurers perceive married people as better risks for auto insurance generally and offer them slightly lower rates.

You two lovebirds share dessert off the same plate, and now you can combine auto insurance policies too. You may get a multi-vehicle discount, another factor that could save you money. (Hmm, love turns out to be pretty good for your pocketbook!) Still, review your policies with an agent to make sure that’s the right move. If your spouse has a poor driving record or owns a pricey sports car, you might choose to keep your policies separate.