How Getting Married Affects Your Insurance Policies

While you likely won’t forget to update your relationship status to “married” on your big day, you may not realize that your insurance needs updating after you say “I Do”. It’s important to tell your insurance agent of your big life change along with all of your friends and family, and it could save you and your spouse on your monthly premiums! It’s the perfect time to pop the question: how does getting married affect your insurance policies?

Homeowners Insurance

Once you and your spouse move in together, it is a good idea to have only one homeowner or renters policy. If you both had your own policies before getting married, you can simply cancel one, and you will automatically be covered under the remaining one, however, it is a good idea to review your coverage limits and make any adjustments as needed now that you will be covering additional personal belongings. The best way to ensure all of your items are covered correctly now that you live together is to speak with an agent about your personal property coverage.

Auto Insurance

The couple that stays together saves together. Generally speaking, married couples are considered safer drivers, as far as insurance companies are concerned, so you could see a price drop, up to 25%, on your auto insurance if you combine your cars onto one policy. You could also qualify for a multi-line discount if you have multiple vehicles. If you get your home and auto insurance from the same company, you could receive even more discounts from bundling so be sure to ask your agent.

While you could save by combining, if you or your spouse have a less than perfect driving record, it might be a bad idea. Low risk drivers could end up paying higher rates when combined on a policy with a driver who is considered high risk, which could eliminate any savings you would see from merging policies.

Health & Life Insurance

Now that you’re married, it may be time to consider life insurance if you haven’t already. If you have a life insurance policy, you may want to change your primary beneficiary, so it is a good idea to revisit this policy and review your coverage. If you get your health insurance through your employer, inform the human resources department to see if your coverage can extend to your spouse.

A wedding can be stressful, so we’re here to make sure insurance is one less thing you’ll have to worry about. Call us at 724-929-2300 today to review your current policies with an insurance expert who can answer all of your questions or to receive a free quote. We’ll do the comparing for you to save you time and money, so you can focus on making your big day perfect.

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