Adding Your Wife To Your Car Insurance May Reduce Your Premiums

Just by adding your wife’s name to your car insurance may shave as much as £502 off the average cost of a policy according to the price comparison website

A man's car insurance premium may be reduced just by adding his wife to the car insurance policyObviously she would need to be a regular driver of the car.

However, men will have to respond quickly as on 21 December 2012 new EU rules will no longer allow insurers to take gender into account.

The above price comparison website’s car insurance price index reveals a male driver will pay an average of £954 per annum for fully comprehensive car insurance in his sole name.

By adding his spouse could reduce the annual premium to an average of only £452 resulting in a £502 saving.

Obviously there are a number of factors that can affect these figures such as age, no claims discounts and driving experience.

For instance, a man in the 21 to 25 year age bracket would pay an average of £1,763 per annum for car insurance. By adding their wife to the policy who drives the car regularly reduces the premium by an average of 29% that is a considerable saving of £506 per annum.

A male in the age bracket of 56 to 60 would pay on average £385 per annum for comprehensive car insurance but by adding their wife who drives the car regularly the average premium would reduce to £279 per annum- a saving of £106 per annum.

Interestingly, the survey revealed that 63% of males were unaware that by adding their wife to the policy could reduce their car insurance premiums.

Of course, the reason that females have this effect on premiums is that car insurance companies perceive them to be less of a risk on UK roads than males.

The Department of Transport will support this perception as 63% of accidents have a male driver involved.

Will Thomas who is a car insurance expert for, stated ‘Although policies allow you to add drivers to your policy, make sure you do not represent them as the main driver if this is not the case.

‘Fronting is considered illegal and could prevent claims being paid if you add someone to the policy who does not drive the vehicle, or mask the fact it is a younger driver’s car.

‘Adding a spouse or partner is a great way of lowering your premium and spreading the risk in the insurer’s eyes, however there may be some instances where adding a female driver may make your policy more expensive.

‘Use your common sense here, if the driver is young and inexperienced or has driving convictions and a claims record then this is likely to make your policy more expensive.

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