Lower insurance premium after selling wife's car?

Question

My wife and I currently two cars, and let's say that we both pay $100 a month each in auto insurance ($200 a month together). If we sell my wife's car, will we still need to pay the same insurance for her to drive my car, or will our overall monthly payment of $200 go down?

Answer 1

Your payment will certainly go down, but it may not be half. It really depends on you and your wife's driving records. If she has a great record and yours is lousy it may be even more than half.

Answer 2

Based upon others judgement will not get the wise decision.However,other's suggestion might be helpful.Here is a good resource for the question.http://car-insurance.online-tips.info/ca...

Answer 3

You are now paying for 2 cars... if you sell one and drop the insurance on it you will cut your insurance bill in half. Your wife is already insured on your car. And 100 dollars per month per car sound high to me, but then that could be your age or where you live.

Answer 4

if you have one or more cars on your policy, most insurance company's give you a Miltie car discount. it may drop a little but i doubt it.

Answer 5

Your payment will go down but it really just depends on the types of vehicles by how much it will.  Let's say your car is a much more expensive car to insure and hers was an older car that was fairly cheap to insure. Your car might make up $130 of the $200 and hers only $70.   If you get rid of hers, you won't necessarily be cutting your payment in half but by $70 a month.  

It's always a good idea to compare quotes from other insurance companies once a year or after you purchase/sell a car just to make sure you are getting the best rate possible. The site below is really helpful because it allows you to compare quotes for all of the insurance companies in your area for free so you can find the cheapest rate possible.

Hope this helped!