If you're married — you're probably eligible for cheaper car insurance. Here's why
Married people are considered more 'responsible,' insurance provider explains
If you're making the switch from single to married, you might want to call your insurance provider and let them know. Changing up your status will likely mean you pay less for car insurance.
"It's one of the perks of being married," explained Nabil Ghamraoui, CEO and co-founder of Premium Insurance Brokers in Windsor, Ont..
The reason for the discount is because being married means you're likely "more responsible," Ghamraoui said.
Single drivers end up causing more accidents and filing more claims than married couples, he added.
"Something as simple as a windshield crack. Single people have a tendency to put the claim through," he said. "If it's a windshield crack, married people say, 'We'll just pay out of pocket,'"
He added that if you're married, you're also more likely to be a homeowner living in an established neighbourhood.
"That'll be safer. It's less likely that your car will be vandalized or stolen," he pointed out.
Exceptions to the rule
As for how much you might save? According to Ghamraoui, it would only be about a two per cent drop in price. But, in this economy, he points out "anything helps."
There are some exceptions though, Ghamraoui explained. For drivers defined as high risk, for example, the discount would not apply. According to the Financial Services Regulatory Authority of Ontario, a high-risk driver may have had multiple convictions or at-fault accidents, or may have missed payments or policies cancelled.
Theresa Genua was surprised to learn that married people typically pay lower rates and says it's unfair.
"I don't see any reason as to why being married is linked to your responsibility," she said.
Even though Rihan Allawi is married, she also feels that it's unfair for single people to be singled out.
"Married people are the same as single people," she said.
Meanwhile Haidar Traifi, who is also married, says it makes sense that married people are viewed as more responsible.
"You have a wife, you're going to think twice before you do anything," he said.
As for what Ghamraoui would say to single people who might be offended by the system: "I don't make the rules, I just follow them," he chuckled. It's the Financial Services Regulatory Authority of Ontario that governs the rules.
Ghamraoui believes most people don't even know about the different insurance rating for married people and encourages everyone to call their insurance provider after their wedding day to get their lower price tag.