Why Do You Get Marriage Discount When You Buy Car Insurance? What is the purpose of it?
i would like to understand what is the purpose of the discount? Does it sort you good driver when you are married??
Answers:
cause married people are smaller number likely to be driving all over the place to f¨ēte Source(s): married
When insurance companies charge different rates base upon a certain factor or offer discounts for something that seem innocuous, they have to have a statistical purpose to wager on it up. If there weren't statistics to show that there's a correlation between a certain factor and propensity for automobile accident, the company couldn't rate based on that factor...it would be illegal.
So...to answer your give somebody the third degree, there is statistical evidence that shows a correlation between marital status and occurance of accident. People who are married get in not as much of accidents, statistically speaking.
It's the same purpose why in most states, insurance companies are allowed to use credit information...evidence dictates that it relates to the likelyhood of being involved surrounded by an accident. Source(s): Agent
if there are 2 folks driving 1 car, then it seem likely that the married couple would put more miles on the car than a single being.
this depreciates the car more quickly, which finances that if you total it, the insurance company owes you less.
also, married couples are more likely to own a home and homeowners insurance, which the company might be trying to sell to the couple, as well. they're alright near taking a lower profit on car insurance of $200 a month if they can get you to buy homeowners insurance for $500 a month.
Married people are largely less reckless than someone who is single or divorced. They normally have others, including their children, in the motor with them, which makes plentiful people more careful drivers.
Most married people hold a stable income, they aren't young and immature, own plenty of driving experience, and have their **** together. That's why. Source(s): I'm an Agent
I believe that the actuarial table show that married people get within fewer accidents than non-married folks. So they are cheaper to insure. It's the same reason that a man's premiums move about down after age 25.
Responsibility. People that are responsible tend to put within for claims less often. Homeowners, married, correct credit, clean driving record, etc...
Related Questions:
Answers:
cause married people are smaller number likely to be driving all over the place to f¨ēte Source(s): married
When insurance companies charge different rates base upon a certain factor or offer discounts for something that seem innocuous, they have to have a statistical purpose to wager on it up. If there weren't statistics to show that there's a correlation between a certain factor and propensity for automobile accident, the company couldn't rate based on that factor...it would be illegal.
So...to answer your give somebody the third degree, there is statistical evidence that shows a correlation between marital status and occurance of accident. People who are married get in not as much of accidents, statistically speaking.
It's the same purpose why in most states, insurance companies are allowed to use credit information...evidence dictates that it relates to the likelyhood of being involved surrounded by an accident. Source(s): Agent
if there are 2 folks driving 1 car, then it seem likely that the married couple would put more miles on the car than a single being.
this depreciates the car more quickly, which finances that if you total it, the insurance company owes you less.
also, married couples are more likely to own a home and homeowners insurance, which the company might be trying to sell to the couple, as well. they're alright near taking a lower profit on car insurance of $200 a month if they can get you to buy homeowners insurance for $500 a month.
Married people are largely less reckless than someone who is single or divorced. They normally have others, including their children, in the motor with them, which makes plentiful people more careful drivers.
Most married people hold a stable income, they aren't young and immature, own plenty of driving experience, and have their **** together. That's why. Source(s): I'm an Agent
I believe that the actuarial table show that married people get within fewer accidents than non-married folks. So they are cheaper to insure. It's the same reason that a man's premiums move about down after age 25.
Responsibility. People that are responsible tend to put within for claims less often. Homeowners, married, correct credit, clean driving record, etc...
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