Auto Insurance Premiums Affected by Life’s Events

Marriage proposalMajor events in a person’s life can change their whole world – right down to how much they pay for auto insurance.

Certain changes require a person to determine what aspects of their life have been affected. That includes taking a look at the auto insurance bill, reported the Iowa’s Creston News Advertiser.

For instance, once a couple ties the knot, they should cancel separate insurance policies and instead share one. On the other side, a couple getting divorced should return to individual policies, but may need more or less coverage depending on who gets custody of any teen drivers, said the paper.

Children who are old enough to start driving can be added to the parent’s policy, although insurance providers typically see teen drivers as high-risk. Parents should look for student driver discounts to defray the cost of increased premiums, said the article.

Starting a new job also provides an opportunity to reassess one’s policy, since many companies offer discounts for people who live closer to work and therefore drive fewer miles, according to the report.

Taking a step back and reevaluating life changes and completing an occasional car insurance comparison can help drivers ensure the most affordable rate is being paid for coverage.ADNFCR-3298-ID-19852097-ADNFCR

About John Pirro
John Pirro is a licensed fire and casualty insurance agent specializing in various aspects of the auto insurance industry. He worked in the auto body repair industry before taking a reporting position at Online Auto Insurance News.

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