San Diego, CA (PRWEB) June 28, 2011
The latest premium analysis from OnlineAutoInsurance.com shows that a married California couple could save between one-tenth and one-third on car insurance premiums by switching from two separate policies to one combined policy.
Many members of the industry have pointed out that married drivers can save on CA auto insurance premiums by combining policies after tying the knot, but there are few hard numbers out there showing just how big the savings generally are. This new analysis was initiated to help change that.
To quantify the monetary benefits of getting a married couple on one insurance policy, OnlineAutoInsurance.com generated quotes for a husband and a wife separately and then together, getting 12 quotes for each scenario. The ages used for the husband and wife were based on the 2009 median age at first marriage for Californians, which was 29 for males and 27 for females.
Detailed results from the analysis can be found on the graph and chart accessible through the version of this release hosted on PRWeb. But the following are a couple highlights of the results:
- The average six-month price for two separate policies totaled $1,870, while the average price when rated on a single policy was $1,477 — a $393 difference.
- A combined policy was on average 21 percent lower than the total cost of the two separate policies.
- Prices varied widely among insurers. The price of a single policy for both drivers from Company A was about 55 percent less than the price of the same policy setup from Company L.
To learn more about California financial protection issues, readers can go to http://www.onlineautoinsurance.com/california/ where visitors will have access to helpful resource pages and a quote-comparison generator that can jump-start the search for quality, affordable coverage in any state.
Note on methodology: Both sample driver profiles used in the study had clean driving profiles, and each was rated for his or her own 2010 Toyota Corolla LE with 25/50/25 liability coverage, and comp and collision coverage with $500 deductibles. Their geographic location was the 90039 ZIP code, which is located in Los Angeles.