Recently, my Facebook news feed has been flooded with changes of state of the relationship! Many of my Facebook friends are now either "engaged" or "married", and it is not even the season commitment! Now you may think, it is actually an engagement season? Yes, studies show that the majority of engagements occur between Thanksgiving and Valentine's Day each year. I guess that means my RSS feed will really bombed next month!
Do you go to BIG step and popping the question or you know someone who just did? Or maybe you have already survived the big day and changed your relationship status "married" on Facebook. If so, you'll want to review your policy to see how to say "I do" affect your insurance coverage.
Auto Cover
- You may be able to combine your car insurance policies into a single policy. This could qualify for a multi-car discount from your insurer. Driving records can impact it, however, you will need to discuss with your significant other whether or not they are a "speed demon" and have a history of violations.
- The interest rates for married drivers are generally lower than those for individual policyholders, which is another reason why it is important to notify your agent of your wedding.
Home or renter's insurance
- As a couple newly engaged or married, you may be changing your lifestyle. Maybe you move out of your parents' house, renting an apartment or buying a home. All these changes should be discussed with your agent.
- If you rent, you should consider purchasing renter's insurance to cover your personal property and provide liability coverage. Click here to learn more about renters insurance.
- If you moved with your spouse, you'll want to review your policy to see if it has sufficient coverage for both your belongings.
- It is important to remember that most homeowners and renters policies have a limit on jewelry coverage, so you might need to plan your "rock". Click here to learn more about programming jewelry and other items.
Insurance
- If you and your spouse have health insurance, you will want to consider you add your spouse or vice versa so you do not pay for duplicate coverage.
Have you recently had a change of status or plan to in the near future? Then there is no time like the present to review your insurance coverage with your independent agent to ensure you are adequately protected as you begin your life together!
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