How to combine car insurance after marriage and save money

Have you recently gotten married? It's fairly common for married couples to combine their car insurance policies, especially if both have a good driving record. Combining policies offers several benefits, including saving money, and it makes managing policies easier with only a single policy to oversee. If you're a newly married couple looking to combine your car insurance policies, here's how to do it, along with other things you might want to know.

Why might you consider combining car insurance after marriage?

If you're married or living together, combining your car insurance coverage into one joint policy is often a great move, and it could save you a good chunk of change. Here’s why you should think about merging your auto insurance policies after getting married:

Lower rates

Insurance companies often reward married couples with lower rates, especially if both of you have clean driving records. In provinces like Ontario, Alberta, and Quebec, insurance companies tend to view married couples as safer drivers, likely because they’re more likely to have kids in the car and, naturally, be a bit more cautious behind the wheel.

Multi-car discount

Married couples might also qualify for a multi-car discount if you’re insuring more than one vehicle, and the savings can really add up. You could save as much as 20% off each policy, depending on your insurer.

Convenience

Plus, one of the best parts of a joint auto insurance policy is the convenience. Both of you are covered to drive any of the insured vehicles, making things more flexible and eliminating the need to double-check who's listed on which car. And since it’s all under one policy, you only have one payment to keep track of and one renewal date to remember. That means fewer headaches and less paperwork.

How to merge both car insurance policies

Getting married comes with a lot of exciting changes, and one of the easiest wins is saving money by combining both of your car insurance policies now that you're married and live together. Here’s a simple, step-by-step guide to help you through it:

1. Compare both of your current policies

Start by reviewing both of your existing auto insurance policies. Take note of your coverage limits, deductibles, premiums, and any extras you may be paying for. This gives you a clear picture of what you’re working with. It also helps to have an idea of how much you’re currently paying.

2. Contact insurance providers for quotes

Reach out to your current insurance companies (and maybe a few others) to request quotes for a joint policy. Be sure to mention that you’re married and looking to combine policies, as many providers offer discounts such as multi-vehicle coverage.

3. Decide whether to keep one provider or switch

Once you’ve gathered a few quotes, compare the coverage and pricing. You might stick with one of your current insurers, or you may find a better deal elsewhere. Be sure to look at all aspects of switching, as things like coverage types, customer service, bundling options, and available discounts all matter.

Also, if you're switching to a whole new provider, don't forget that there might be a penalty for cancelling your current policy(s) early, so be sure to add that cost to your quote.

If you're not sure when is the best time to join your two policies together, contact an insurance broker like BrokerLink. We can help you sort through your separate policies and gather quotes to help you determine which option is best for you. We can also help you figure out when it's the best time, cost-wise, to combine.

4. Finalize the new policy and cancel the old one(s)

Once you've found the right policy, select the one that offers the best value and coverage. Once your new joint policy is in place, cancel the other policy(s) you no longer need. Just be sure the coverage on the new plan starts before or on the same day you cancel the other, so there’s no gap in coverage during the switch.

5. Update policy information

If you've chosen to stick with one of your original policies, ensure that you update all necessary details, such as your shared address, both vehicles, and the information for both drivers. If you’ve recently moved or changed your name, ensure that all your documents are accurate and match each other.

Factors affecting combined car insurance rates

When you merge car insurance policies as a couple, your new premium isn’t just a simple average of what you each paid before. Several factors come into play that can influence your combined rate. It's important to keep the following in mind when combining car insurance policies:

Your driving records

Insurance companies look closely at both spouses’ driving histories. If you both have clean records, you’re likely to get a better rate. But if one of you has tickets or past accidents, it could raise your joint premium higher than what you'd be paying separately. When one spouse has a poor driving record, it can sometimes be better to have separate car insurance policies.

Your vehicles

The make, model, year, and safety features of your vehicles also affect your car insurance premiums. If you're adding your spouse and their vehicle to your policy, and they drive a newer, more expensive vehicle or one with higher repair costs, you could see your rates increase significantly.

Your coverage levels

If you're upgrading your policy to protect both drivers and multiple vehicles better, your premium may rise. That said, bundling often comes with discounts that offset some of the added cost, such as bundling two vehicles together or combining your auto insurance with the homeowners insurance you now need for your new home. Bundling auto and home insurance may save you up to 15% on each policy.

Your marital status

As we touched on earlier, some car insurance companies in provinces like Alberta, Ontario, and Quebec offer better rates to married couples. They generally see married drivers as lower risk, partly because they’re more likely to be extra careful on the road. After all, if you’ve got kids in the backseat, you’re probably not speeding or taking chances.

Common mistakes to avoid when combining car insurance policies

Merging car insurance after getting married can be a great move financially, but only if you do it right. Here are a few common mistakes couples make (and how to avoid them):

Not shopping around

Don’t just go with your current car insurance provider out of convenience. Take the time to compare quotes from different insurers because you might find a much better deal elsewhere, especially with new discounts available to you as a couple. Contact a local broker to help you find the best deal.

Ignoring early cancellation fees

If you’re switching providers before your current policy term ends, be sure to check for cancellation fees, as most insurance companies have them.

If you both decide to stick with your current policy, make sure to quote what the cancellation would cost vs. the savings. You may find it best to wait until your spouse's policy is up for renewal. However, if the savings outweigh the cancellation fees, consider cancelling mid-policy.

Overlooking coverage gaps

Timing is everything. Make sure your new joint policy is active before cancelling the old one. A gap in coverage (even just for a day) can lead to penalties when it comes time to renew your policy or issues if something happens on the road and you're not covered.

Learn more from BrokerLink

Whenever a big life change happens, like getting married or moving in together, it’s a great time to give your BrokerLink broker a call. Our licensed insurance experts are here to guide you through your options and ensure your coverage remains suitable for your new situation. We’ll help you figure out whether a joint policy makes the most sense for you and your spouse, or if separate car insurance policies are the better route.

Have questions or want a free quote? Contact BrokerLink today—we’re happy to help! You can reach us by phone, email, or stop by one of our locations across Canada. We also encourage you to take advantage of our free online quote tool that can provide you with a competitive quote in minutes.

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