Marriage may not always be a bed of roses, but there are distinct advantages to tying the knot. For one, research shows that married couples tend to have lower chances of incurring dementia and serious illnesses like cancer. But did you know that being married can also save you money on your car insurance?

Most car insurance companies offer discounts to married drivers. This is because some insurers view married drivers as being more responsible compared to single drivers.

Even men under 25, who are considered to be high risk drivers and more likely to be involved in drink-driving accidents, are offered discounts if they are married.

To support this view, insurance companies often cite a 2004 study from the National Institutes of Health. The study shows that single drivers are twice as likely to get into car accidents compared to married drivers. This then translates into a reduction in car insurance rates.

Simon Birch, CEO of Budget Direct Insurance, agrees. “We find that married drivers make fewer claims compared to single drivers.”

Another reason given is that married couples are likely to drive less often than their single counterparts. Yet others hypothesise that married people lead more stable, less risky lives than singles. They theorise that because married people have someone to live for they are more likely to be safer on the roads and take fewer risks.

Of course, marital status is not the only factor that goes into determining the cost of your car insurance policy. Your driving history and credit score, the make and model of your car, and how often it’s driven are some other considerations that are taken into account.

What about domestic partnerships?

If you are not married but in a domestic partnership, does that count?  Some insurers do offer specific discounts for domestic partnerships. You can expect to receive similar discounts to that of married couples.

Some insurers feel encouraged to do this as statistics show that those in domestic partnerships are less likely to make a claim compared to single drivers.

Your rates are also likely to decrease if your partner is in a lower risk group than you are. For example, if they meet the following characteristics:

*Your partner drives fewer miles than you do

*Your partner has a better driving record

*Your partner has a vehicle that’s less expensive to insure

In all these cases, your premiums may drop if you inform the car insurance company that you are in a domestic partnership.

If you and your partner drive two cars, combining them under the same insurance policy, too, can help save money.

Apart from the economic benefits you stand to gain, another reason you should not hide or withhold your marital status from your insurer is because doing so could lead to them branding you untrustworthy and voiding your policy. In general, life events like marriage, divorce and moving to a new house are considered major happenings which can have an impact on your premiums. So, it’s best to be open about such events to your insurer.

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