Post Wedding Insurance Planning Advice
After months of planning finally everything is set for the big day
. Everything down to the smallest detail has been looked over dozens of times and you and your future spouse are certain everything is ready to go. The ceremony and reception are set, but have you thought about issues that need to be dealt with for your lives together that will begin upon return from your honeymoon? One major area that is often overlooked is insurance.As a couple, you likely have auto, health, and home insurance and may be considering life insurance. The advantage of looking into this as a married couple is that you are likely to save a decent amount of money compared to what you paid when single for the same coverage. This additional money will be of great value in the early years of your marriage.
Home Insurance
One of the biggest changes that occur once married will be the fact that you will now be living together in the same house as husband and wife. In order for this to happen, it means that one of you had to give up their old house or apartment. If that person is planning to keep that property in order to rent out, it is important that they cancel their homeowner's policy as it is not intended to cover renting out the place.
The insurance company you had that policy through may offer Landlords insurance that is the appropriate insurance that allows you protection as the person renting out the property. It is also important to let the insurance company know that you are no longer single as they may offer a discount for married couples. Prior to doing that though, you should evaluate the assets in your new home. As you will be combining both of your items, the value of the combined possessions will greatly rise and thus it is important to have the policy show the difference.
Car Insurance
Many companies offer discount auto insurance to married couples. This is actually one of the bigger areas that money can be saved especially if you're a younger couple. The advantage for married couples comes in with the point that insurance companies see married couples as being more responsible financially as well as in their actions and thus will offer more affordable rates. It is also important to see if there is a discount if you combine your policies with the same company.
Life Insurance
At this important stage in your life, it is a good time to look at your life insurance needs. Many couples consider getting some sort of coverage to ensure their love one would be taken care of if something were to ever happen to them.
Health Insurance
A good health care plan for you and your spouse is very important. Many people receive this benefit from their workplace, if this is your case then add your spouse to the policy. If you both have work policies then compare the two policies to make an educated decision on which one to keep.
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