Singles pay extra for automobile insurance coverage

Singles could have extra enjoyable, however in addition they pay greater than their married buddies for automobile insurance coverage.

A single 20-year-old pays 21% greater than a married 20-year-old for a similar coverage, a brand new examine from discovered.

To an insurer, it comes right down to statistics — and singles get into extra accidents.

Married drivers could be extra cautious since they’re extra prone to have youngsters, mentioned Laura Adams, an analyst an

Drivers of their 20’s who’re married really get larger reductions than married drivers of their 30’s, who solely get a roughly three% break.

Gender and age additionally play a giant position in what drivers pay.

Males pay greater than ladies once they’re youthful. A 20-year-old man pays 22% greater than a girl the identical age for a similar coverage, the report discovered.

Related: Teen drivers: Buckle up and lower the volume, Dad’s monitoring you

The excellent news: Automobile insurance coverage prices for each women and men lower yearly till age 60.

The report used knowledge from the most important insurance coverage carriers in every state and D.C. In its comparisons, it assumed the drivers have been employed, had a bachelor’s diploma, a clear driving document, a wonderful credit score rating, and drove a 2012 sedan.

Hawaii is the one state that prohibits insurance coverage firms from contemplating marital standing in fee calculations. And age can’t be a think about both Hawaii or California.

CNNMoney (New York) First revealed March 26, 2015: 10:05 AM ET

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