There are events like getting married, getting divorced or widowed, or entering retirement that have a big impact on how our life will be. These events also affect the rates of your auto insurance. These are also the times when you need to re-evaluate the car insurance policy that you have.
Saying I Do
Getting married can be one of the most important events of your life. It is a new beginning. You also merge your assets with your partner. Marriage may also spell more discounts for your auto insurance. Well marriage can actually save you some money.
Most insurance companies offer discounts for coverage of multiple cars. So when you have your cars under a policy with the same company, then you can save some money and cut down on the bills. During this time, you may also want to shop and again compare the auto insurance quotes and pick the best for your vehicles.
Divorced or Widowed
It is a very unfortunate event to be divorced or widowed but it is a possibility and reality that we must face. When this thing happens, you might be the only driver in your household and this will push up your auto insurance rate. You have to be on guard since they can go sky high.
Try to shop around for a better rate. Although your current policy may be the best rate in the market, that is true when you were married and does not apply when you’re single. You also have to consider that the budget is a bit tighter since you do not have the extra income.
A lot of people spend their retirement traveling or just relaxing away from the daily stress of their old jobs. This also means you will not be driving everyday. Low mileage will also mean a chance to lower your monthly auto insurance rates. You may also consider that you do not need the extra cars in your garage and one vehicle will be perfect for your situation.