A new study reveals that it is much easier for couples to find cheap car insurance than it is for singles and divorcees.
According to a new research that was conducted by ‘Which?’, eight out of twelve of the leading car insurance providers who were questioned as part of the study said that they charge couples less for their annual car insurance premiums when compared to single and divorced people.
In certain cases, the difference in the cost of annual car insurance could be as much as a quarter. All of which is due to a simple change in the marital status of the policy holder.
Which? highlighted a specific example that showed that the cost of car insurance for a 27 year old man who stated that he was divorced or single in his policy was 28% higher than the price that he would have had to pay if he had stated himself as married or even cohabiting in his policy details. On average, the difference in the cost of car insurance was 10% higher for singles than couples.
The study also showcases the importance of answering all of the questions given by the insurance company. One provider was found to charge extra to policy holders who stated ‘not disclosed’ as their relationship status compared to the ones who had stated that they were ‘single’.
When the car insurance companies were asked why they charged couples less for their policy compared to singles, they said that the costs of their premiums are based on company research and claims history.
Insurance experts say that this survey once again highlights the importance of shopping around to ensure that one gets the lowest car insurance quote.