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Cited: Insurance.com

Getting married is an important step in anybody’s life.  It is not only the union of souls but of lives as well.  When two lives become one, their financial responsibilities do the same.  This means that insurance needs are going to change when you get married.  This is when you need to review your policies and make sure you are getting the most out of your insurance.  It has become an important part of protecting your new life together.

Car Insurance

Make sure to inform your auto insurance company or agent that you are married, because many auto insurance companies offer discounted rates for married couples. You may want to get quotes from both of your companies—and maybe some new ones when you’re ready to merge your coverage. A multi-car policy could start saving you money right away—and check for other discounts like a low-mileage discount, if you carpool. Lastly, if you and your spouse will be driving each other’s cars before you combine your coverage onto one policy, makes sure there’s coverage for each of you as a permissive operator. You agent can help with that one.

Life Insurance

Life insurance might be the next thing to consider as you start your life together. Life insurance helps your spouse financially in the event of your death by covering debts you may have incurred, and is equally important to have if you are considering having children or even buying a new home. Discuss how much life insurance you need as a couple today and make sure to regularly review your needs. Even if buying a life policy isn’t in this year’s budget, you can learn about the different types of life insurance for the future.

For those who are looking for life insurance quotes . . . One insurance agency is doing for the Life Insurance Industry what Expedia has done for the travel industry.  Their life insurance specialists that will help you find the best coverage for your family while saving you thousands of dollars on your life insurance premiums.  They are a nationwide brokerage firm licensed in all 50 states.  They do not work for any one insurance company, THEY WORK FOR YOU.  They can also provide you do with a universal, term or traditional life insurance quote.

Health Insurance

Evaluate your health insurance plans, and decide if it’s going to be better to keep individual plans, or make a change. For example, if you have a good employer-sponsored health insurance plan, it may be more cost effective to move your spouse over to your plan (or vice versa). You’ll need to consider long-term plans as well as your immediate needs, if you’re planning on starting a family. If you’re a student, there are often health plans available on campus. And, if you have no coverage at all, you may want to consider a high deductible plan—just to have coverage for a major event.

Additional Homeowners Coverage

If you’ve just moved in together, or bought a new house, you’ll quickly discover that you have a lot more stuff than before—and that doesn’t even include wedding gifts, new furniture or wedding rings. Make sure that all your belongings are covered under your homeowners policy, and if you need to get additional coverage, don’t delay too long.

It’s important to note that homeowners insurance and renter’s insurance, though they do protect the physical structure of your home and its possessions, they don’t always cover jewelry or other expensive “one-off” items. Your homeowners insurance agent or insurance company, will be able to determine what kind of insurance coverage is best for your valuables, and may determine if a rider is needed on your homeowners policy to cover your valuables, such as jewelry.

Another factor you should discuss with your homeowners insurance agent when applying for your rider policy is whether the extension provides “actual cash value” or “replacement cost coverage.” Though replacement cost coverage is more expensive than actual cash value, it provides more coverage because actual cash value factors in depreciation for the item. This means you will only be paid back what the item was worth at the time it was stolen or damaged, not the price you initially paid for it.

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My Take: I know, insurance is not one of the things that newlyweds are thinking about after the wedding.  But they should begin thinking about it fairly soon.  The insurance that they carry not only for life, but medical and vehicle insurance needs to be updated to include the spouse.  It is just like having to let the Social Security Department know that you are now married.  It is something that you just have to do.

Having all of your insurance up to date and correct after you get married in shores the everything will be taking care of if something bad should happen one or both of you.  You would not be very happy if six months after you got married one of you ended up disabled and unable to work and had no insurance coverage.  Worst case scenario, you have children and one of you dies, what happens then?  The surviving spouse now is a single parent and there is only one income.

You need to decide early what is going to happen later in life.  It would be great if we all knew what the future held for us, but we do not.  That is why we must plan ahead!  So the best thing any newlywed couple can do is to plan ahead as soon as possible and then they can get on with enjoying their new life together.

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Other Resources

Drivers Education

The largest academy driving school NY, in the metropolitan area, was founded on the principal of safety in 1968.  They train you on all types of vehicles such as Cars, Motorcycles, Buses, Trucks, Tractor Trailers, and Fork Lift.  That means you can take a motorcycle driving course NY and be able to ride that motorcycle safely.  They are even approved by the NY DMV and that can reduce your insurance premiums.  In fact, they even have an online defensive driving course that offers one of the most trusted and effective defensive driving course options available, providing students with a fully approved safety course designed to help their graduates keep their insurance rates low and protect their driving record.  You could even call it a NY insurance rate reduction course.