Is it really logical and financially prudent to share the same auto insurance coverage with a spouse? Though many spouses are on the same auto insurance policy, it isn’t guaranteed to be the most prudent arrangement. Here’s the Presley Insurance Group’s inside look at shared auto insurance between Dallas, TX spouses.
Sharing Auto Insurance With a Spouse
The argument against sharing an auto insurance policy with a spouse or anyone else is that another person’s actions can lead to a negative outcome for you. If your spouse gets into accidents or gets speeding tickets, the cost of insuring both of you will increase. Alternatively, there is no such risk if you are on your own auto insurance policy.
The argument for combining car insurance with a spouse is that the consolidation of coverage is more convenient. Moreover, some insurers offer more affordable coverage when grouping spouses together on the same insurance. It really is that much simpler to add two vehicles and covered drivers to the same policy.
From the insurer’s perspective, combining married couples onto a single policy reduces risk. The logic is that married couples tend to mature faster, meaning they pose less risk on the road. Moreover, couples tend to be more conservative, meaning they are less likely to change insurers.
Consider the Financial Angle
Above all, the logic in sharing auto insurance with a spouse is the discount. In most cases, married couples receive a multi-car discount when sharing a policy. The bonus of streamlining account management and billing makes sharing coverage for car insurance that much more enticing.
It is also worth noting married couples’ joint policies almost always provide superior coverage for both vehicles, providing equal protection for both individuals.
Contact the Presley Insurance Group
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