Car Insurance Premiums Cost More for Singles than for Married Couples

Car Insurance Premiums Cost More 300x200 Car Insurance Premiums Cost More for Singles than for Married CouplesCar insurance rates have been a cause of distraught to many motorists. With the ever-increasing premiums, garage repair costs and petrol prices; it is certainly hard for one to save a penny nowadays. And even with the current slight decreases in car insurance costs, premiums are still at a staggering height. This is why a consumer research website has kept track of the changes within the car insurance industry. This consumer research site has released some figures in accordance with their newest survey. According to them, out of 12 leading car insurance companies, 8 of them admitted to charge singles and divorcees more in car insurance premiums compared to couples.

In a few particular cases, the evident difference between a single car insurance premium and a married car insurance premium could be as much as 25 %. This is despite the fact the coverage and driver status is both the same. Hence, the difference of 25 % is all based on the marital status of a person.

Within the survey of the consumer research site, they have stated a certain case to prove their findings. It showcased the price of a car insurance premium for a 27 year old, divorced man. It was shown on his policy that his premium was 28 % higher than if he had declared himself as married.  In other particular cases, it has been known that the difference between other policies based on the marital status is at 10 %.

On another note, the consumer research company has also made it a point to look into the importance of completing car insurance provider’s questions. According to them, they have seen the importance in completing filling up the form.

However, they found out that if a person will tick the relationship status box ‘undisclosed’ instead of ‘single’, the person will be granted a lower premium than if he ticked the box ‘single’. This is probably the main reason why the number of fraudulent cases has doubled in terms of filing car insurance.

Upon the conclusion of the survey, this particular consumer research asked the 8 leading car insurance companies why they charged more to people whom were single or divorced. They said that the car insurance premium figure was based on the claims history and on their own personal company research. However, statistics seem to say otherwise. In accordance to this new-found trend, it is becoming more and more important to shop around for cheaper car insurance premiums.

No related posts.

Comments are closed.