Insurance isn't the most romantic topic..
but if you are engaged or newlyweds, it's time to talk about combining your insurance policies. Don't worry- we can help you get started!
Insurance is meant to protect you from financial ruin in the event of an accident or disaster. It’s important to review your coverage to ensure that you have what you need for this new season of life.
Checklist:
- Make a list of all the insurance policies you currently have
- Find an independent agent you trust to help you review them
- Work together to combine your policies
1. Making a List
When getting married, you become we. The first step to combining your insurance is to write down any insurance policies you have. If you are just getting out on your own, ask your parents if you are listed as a driver on their auto policy or if you have a life insurance policy. Bring your lists together and talk about what you will need. Are you purchasing a home together? Will you be getting health insurance through your spouse’s job? How much life insurance will you need to replace your income if something happened to you?
2. Reviewing with an Independent Agent
Liability limits, deductibles, and premiums- these are all the things you want to discuss with your future spouse. Not sure what any of this means or what is right for you? Don’t do it alone- find an independent agent you trust who will ask you the right questions and help you make the best decision. An independent agent works for you, not the insurance company. When it comes to something as important as insurance, it’s imperative that you work with an agency that has an in-depth knowledge of multiple insurance products, companies, and guidelines — not just one.
3. Combining your Policies
There are a lot of things you will share as a married couple- a home, finances, last names. You are now becoming one, so your insurance should too. This means both of you are listed as drivers on one auto policy with all your vehicles. What if your bride-to-be has an accident on her record? Or does your future husband have a speeding ticket? Most companies offer discounts for being married and you will still most likely pay less together than you would separately. You are going to share your life with this person. That means the good and the bad.
