Under the Motor Vehicles Act, securing four-wheeler insurance is mandatory for car owners in India. However, delving deeper, does the landscape of car insurance hold distinct implications for married couples? In this blog, uncover the nuances and benefits unique to ‘car insurance for married couples.’
Driving Together: Navigating Car Insurance for Married Couples
The average car insurance cost for married couples in India typically ranges from INR 10,000 to INR 30,000. When considering car insurance for married couples, here are some key points to be aware of:
- Opting for joint policies can result in significant cost savings, effectively reducing married couples’ average car insurance cost.
- Married couples with more than one car can benefit from multi-car discounts. Insurers often provide discounts when multiple vehicles are insured under a single policy.
- Insurance companies perceive married couples as lower-risk drivers than singles. This lower risk perception often translates into reduced car insurance premium rates.
- Assess your coverage requirements together. Comprehensive and third-party liability coverage costs can vary from one state to another. For instance, in Maharashtra, comprehensive coverage may cost around INR 19,500, while in Karnataka, it could be around INR 18,800.
- A strong combined credit history as a married couple can positively influence your insurance rates.
- It’s important to regularly review and update your policy to reflect changes in driving habits or personal circumstances. This ensures that your coverage remains relevant and aligned with your current needs.