Insurance Tips for Newlyweds: Bundling, Combined Insurance Policies and Discounts

A newlywed couple sit on the floor in their kitchen after combining their insurance policies through SelectQuote

Getting married is an exciting life change, and there are many decisions that come along with it. As you’re building your life with your new spouse, one decision you’ll have to make is how to combine your insurance coverage. Whether you’ll need to combine home, auto or renter’s insurance policies, the process may seem daunting at first. In this article, we’ve gathered tips for newlyweds to help you save money and keep the protection you need.

Combine Your Car Insurance Policies

A perk of combining your car insurance policies when you get married is that you’ll most likely save money, compared to each of you having your own coverage. Many find that their car insurance rates lower after getting married, and there may be an opportunity for discounts such as a multi-car discount. You can even benefit from an improved rate on your policy if one of you has a better driving record than the other.

Combine Your Homeowners and Renters Insurance Policies

If you and your spouse have separate homeowners or renters insurance policies, the simplest solution is for one of you to cancel your policy when you move in together. Before you do so, you’ll want to make sure the coverage on the remaining policy is enough to cover both of you. 

Remember that your homeowners or renters insurance is meant to not only protect the physical structure of your home, but your possessions as well. As newlyweds, you probably have new belongings you want to cover, like wedding gifts or your rings. You should be sure to make any adjustments to your policy to cover your combined belongings in case they are lost, stolen or damaged.

Bundling Your Homeowners and Auto Insurance Saves More Money

You can easily save money on both your homeowners and auto insurance policies by bundling them. Bundling, also known as a multi-policy discount, simply means using one carrier for multiple types of insurance policies. Bundling not only makes your policies more affordable, it makes it easier to ask questions and make adjustments to your policy all in one place. Because bundling consolidates your monthly payments, some insurers may also offer a single deductible for both policies.

Other Insurance Discounts for Married Couples

While you’ll find many benefits of combining your insurance, there may be opportunities for additional discounts when you get married. When it comes to home insurance discounts, many carriers offer discounts for certain home improvements and installations such as security systems or up-to-date smoke and carbon monoxide detectors.

For auto insurance discounts, you may consider usage-based insurance as a way to get a discount for good driving habits. Usage-based apps often provide discounts for good driving behavior that’s tracked from your phone or an in-vehicle device. From bundled home and auto insurance policies to loyalty discounts and more, most carriers offer opportunities to cut costs with special discounts.

Pro Tip: SelectQuote Can Help You Shop Around for Bundled Insurance

Any big life event such as marriage is a great time to revisit all of your insurance coverage, including reevaluating your needs and getting new quotes. At SelectQuote, we simplify the process of shopping for insurance and allow you to compare some of the most trusted home insurance and auto insurance carriers in just minutes. We can also help you look into the benefits of existing policies and what you hope to cover, and decide if there are opportunities to bundle and save.

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