Marriage and Insurance — How to Protect Your New Life
Have you recently gotten married or engaged? If so, congratulations! This is a huge milestone and one to definitely be celebrated. At the same time, we also know that planning a wedding is a big undertaking, and that there is likely already a lot on your plate. Making arrangements for your wedding, planning your honeymoon, and then sending out all of those “Thank You” cards can seem daunting — but you shouldn’t forget to add updating your insurance to your To-Do list!
Here at Bearingstar, we want to help make this transition a little smoother, which is why we’ve compiled a few things to consider to make sure you are still fully covered through this big life change.
Insure New Belongings
Did you purchase or receive an expensive piece of jewelry for your wedding or engagement? What about big wedding gifts? Make sure all of your new belongings are protected with the right insurance coverage. Depending on the value of these items, you may need additional coverage beyond your homeowners, condo or renters insurance policy — your local insurance agent will help you determine how much coverage you need.
If you and your spouse had separate home, renters, or condo insurance policies, it’s important to combine them into one comprehensive policy that covers both of you and all of your belongings. Remember — as you combine your possessions, you may need to assess your coverage limits, like your personal property coverage.
Update Your Car Insurance
If you and your spouse both have cars, talk to your insurance agent about changing to a single car insurance policy that covers both of you and both of your cars. You may even be eligible for a multi-car discount — don’t forget to ask! If you only have one car and one insurance policy, make sure you both are added to the policy so that you are both covered.
Bundle Your Insurance
Now that you’re married, you may be eligible for discounts to your insurance policies. A common discount involves bundling — when you bundle your car and home insurance policy with the same insurance carrier you could save money.
Consider Other Coverages
As you plan ahead for your new life together, you should also consider additional insurance policies you may not already have. For example, if you don’t already have a life insurance policy, this is a great time to purchase one. If you already have one, make sure to review your beneficiaries to make sure everything is up-to-date. Newly weds should also consider purchasing an umbrella insurance policy for extra liability coverage.
Have more questions about keeping your insurance up-to-date through all of life’s changes? A Bearingstar agent is here to help! Visit our website today to connect with a local agent: http://bit.ly/2GvLIQX