Married people pay less on car insurance - KWWL - Eastern Iowa Breaking News, Weather, Closings

Married people pay less on car insurance

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(NBC) -

A new study by InsuranceQuotes.com finds marital status, gender and age significantly affect how much Americans pay for car insurance. 

And getting married young can save you a lot.

The study found a married 20-year-old pays 21 percent less than a single 20-year-old for the same policy. 

At age 25, the average marriage savings drop to 7 percent, and the savings drop to just 2 percent at age 30 or older. 

That is, unless you live in Hawaii, since Hawaii is the only state where insurance companies aren't allowed to factor marital status into their rates.

As for gender, a 20-year-old man pays more than a 20-year-old woman for the same policy. But from ages 30 to 55, average premiums are actually slightly lower for men. 

And as for age, car insurance costs decrease every year until age 60.

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