Auto Policy Quotes - Weird Pricing?

curiouslystrong

New Member
1
My husband and I are in the process of buying a condo. Someone with the company that's handling our mortgage contacted me recently to see if I was interested in quotes for bundled auto and condo insurance. The quotes she sent me included both myself and my husband on the auto policy. However, my husband doesn't drive; he's never even had a license. I asked if removing him from the policy would affect the quotes. Turns out, it did: the rates quoted all went UP. She also said that some policies would not even let her NOT put him only the policy, as we're married, and that since he doesn't have a license they could possibly exclude him but would require him to sign a document swearing he would never drive the vehicle.

Anyway, it seems to me that less drivers should be less money. Anyone have an explanation for why it's not?
 
A lot of it will depend on age of drivers and area. For example I know a carrier that charges more after 55.
 
A lot of factors go into the rating. And yes, I have seen where I remove a driver and the premium goes up. I usually in that case just leave things the way they are and try to save my client a few dollars.
 
I asked if removing him from the policy would affect the quotes. Turns out, it did: the rates quoted all went UP. She also said that some policies would not even let her NOT put him only the policy, as we're married, and that since he doesn't have a license they could possibly exclude him but would require him to sign a document swearing he would never drive the vehicle.

Anyway, it seems to me that less drivers should be less money. Anyone have an explanation for why it's not?

The reason your rate goes up without your husband on the policy is because without him, they have to list you as single... married drivers always pay less than single/divorced drivers, with all other things being equal.....

so adding your husband as an excluded driver will save you money....

and YES, all companies are going to require him to sign a driver exclusion form. they have to do that to cover their ass legally.

otherwise, the husband could get in a serious wreck and swear up and down that he had coverage. this has happened a lot in the past, costing companies a fortune in litigation. that's why it is so important for the agent to retain a signed driver exclusion form.
 
The reason your rate goes up without your husband on the policy is because without him, they have to list you as single... married drivers always pay less than single/divorced drivers, with all other things being equal.....

so adding your husband as an excluded driver will save you money....

and YES, all companies are going to require him to sign a driver exclusion form. they have to do that to cover their ass legally.

otherwise, the husband could get in a serious wreck and swear up and down that he had coverage. this has happened a lot in the past, costing companies a fortune in litigation. that's why it is so important for the agent to retain a signed driver exclusion form.

I hate to agree with an Ohio State fan, but he is right.:D
 

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