By Les Christie@CNNMoneyApril 10, 2014: 9:23 AM ET
NEW YORK (CNNMoney)
Did you know that taking 15 minutes to get married could save you at least 15% on your car insurance?
According to a report from insuranceQuotes.com, a 20-year old married woman pays an average of 22% less for car insurance than her single counterpart. And a married 20-year-old man pays 20% lessthan his single friend of the same age.
Your gender and age also significantly affect how much you pay, the report found.
As people mature, gain experience and take on more responsibilities, they become safer drivers, Mike Barry, a spokesman for the Insurance Information Institute, says.
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Age is the biggest factor. At age 20, a single male driver will pay 49% more than a single man who is 25, insuranceQuotes.com's report found. An unmarried woman will pay 39% more at age 20 than at age 25.
"Insurers price their policies to reflect the claims risk," said Barry. "They look at claims filings and arrive at conclusions as to who is likely to file more -- and more expensive -- claims."
Shopping around can help cut costs, according to Adams.
"In addition to regularly comparing at least three quotes from different insurers, consumers should review potential discounts with their current insurer," she said. "This is even more important for younger drivers because they tend to pay the highest rates."
Students who carry a "B" average or better may qualify for discounts of up to 20%, depending on their carrier, she said. They can also reduce their premiums by raising the deductible they pay.
An additional discount may be available via "pay as you drive" programs, said Adams. These use hardware that transmits to insurers information about your driving habits. That can include how much you drive, how fast, and how hard you brake or take turns.
InsuranceQuotes.com and Quadrant Information Services calculated the impacts of gender, age and marital status on car insurance premiums using data from the largest carriers in each U.S. state and the District of Columbia. It noted that Hawaii is the only state that doesn't allow insurers to set rates based on age or gender.
Assumptions included: driver is employed, drives a 2012 sedan, has a bachelor's degree, a clean driving record, an excellent credit score and no lapse in coverage with the following limits: $100,000 (bodily injury per person) / $300,000 (bodily injury per accident) / $100,000 (property damage per accident), $10,000 (personal injury protection or medical payments) and a $500 deductible for comprehensive and collision.