How Does Marital Status Affect Your Car Insurance?
Marriage is one of life’s greatest celebrations, but after the wedding bells have faded and the newlyweds begin their journey together, a number of things can start to change.
One of the potential changes that many married couples overlook is how their marital status affects their car insurance rates.
It’s true — depending on where you live (and a number of other factors), your car insurance rates can change after getting married. This leads to today’s topic — “how does marital status affect car insurance rates in Canada?”.
START A QUOTEContinue reading to learn more about how your marital status can influence your car insurance rates.
Why does marital status affect car insurance rates for drivers in Canada?
In certain Canadian provinces, like Ontario, Alberta and Quebec, car insurance companies can (and generally will) ask for your marital status before providing you with a car insurance quote.
Why do car insurance providers do this? Simply put, car insurance companies feel that your marital status (along with a variety of other factors that we’ll touch on later) directly influences your on-road risk level.
Car insurance companies generally view married drivers as less of a risk than drivers who aren’t in a marital relationship. Being a low-risk driver typically results in lower rates, which allows drivers to save a significant amount of coverage.
However, being married doesn’t necessarily guarantee that you’ll be able to save on car insurance; your marital status can potentially increase your car insurance rates as well.
How does marital status affect car insurance rates for drivers in Canada?
Canadian car insurance companies have their own unique processes for assessing drivers’ risk levels.
Because of this, answering the question, “how does marital status affect car insurance rates?” can be pretty tricky.
That being said, we can provide some theories as to how your marital status potentially affects your car insurance rates:
Theory #1 — Married couples tend to be older and have more driving experience
According to Statistics Canada, the median age of a person entering their first marriage in Canada is 28.5 years old (both male and female citizens as of 2020).
Most car insurance companies consider drivers over the age of 25 to be “experienced” drivers, which means they pose less risk than someone who has spent minimal time on the road. Having more on-road experience reduces the overall likelihood of a driver getting into an avoidable accident or collision. In turn, many married drivers get to take advantage of lower car insurance rates. An under-25 year old married male will instantly qualify for over-25 year old rates once he gets married.
However, getting married doesn’t mean that you’ll automatically save on car insurance. Car insurance companies use data, like your accident history, to determine your rates. So, if you’re a young driver who’s been in a number of accidents in the past few years, your marital status may not be enough to alter your risk level. This is something that drivers should keep in mind before starting the auto insurance quote process.
Theory #2 — Married couples are more likely to drive with children
Another reason why married people tend to pay less for car insurance is that they’re more likely to have a child present while driving.
While driving with a child, most people tend to be less risky and make more calculated, cautious decisions. Many people also tend to drive slower when they have a child onboard. Being less risky and obeying the speed limit decreases the chances of a person causing an accident or collision on the road.
Car insurance companies take this information into consideration while determining marital status insurance rate pricing options for their policyholders.
Theory #3 — Getting married can lead to increased vehicle usage
When it comes to marital status car insurance companies in Canada generally see being married as a positive factor.
However, drivers should note that sharing the same insured vehicle often leads to increased usage. Spending more time on the road can lead to increased rates due to the fact that said vehicle is accumulating more kilometres per year.
This is something to keep in mind if you share your vehicle with your spouse, even if the car insurance policy features only your name or your spouse’s name.
What other factors influence car insurance rates in Canada?
This is a difficult question to answer, as each Canadian province and territory has unique rules and regulations regarding car insurance rates.
That being said, there are some general factors that most (if not all) car insurance companies in Canada use to determine car insurance rates:
- Gender of the driver
- Age of the driver
- Number of years you’ve had your driver’s licence
- The type of driver’s licence you have
- The number of years you’ve been insured
- Your auto insurance claims history
- Suspension and conviction history
- The type and age of the vehicle you wish to insure
- The type or types of coverage you want to purchase
- Your average daily and annual kilometres driven
Although some of these factors, like your age, are out of your control, many of the factors, like your suspension and conviction history, are directly related to your actions on the road.
At the end of the day, if you want to start saving on car insurance in Canada, you should do your best to stay safe and work towards becoming a cautious, responsible driver.
If you want to learn more about how to save on auto insurance in Canada, you can contact your Surex insurance advisor anytime.
Save up to 25% on your car insurance by bundling your policies with Surex
At Surex, we want to make it easier for drivers to find affordable, high-quality car insurance. We do this by working closely with some of the top-rated car insurance providers in Canada.
Working with the best car insurance companies allows us to offer policyholders an assortment of competitive quotes.
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Contact your personal Surex insurance advisor today to receive your quotes in ten minutes or less! While you’re speaking with your advisor online or over the phone, be sure to ask about the benefits of bundling multiple policies with the same insurer! The savings can be as high as 25%!
