1There are over 2 million marriages in the United States each year.
If you’re blessed enough to have found someone to spend your life with and you’ve recently gotten engaged or married, there are probably a lot of steps you’ve been taking to create your life together.
Sometimes, life can get so busy with these changes that some of them get forgotten or overlooked.
One thing you shouldn’t overlook, however, is the insurance aspect of your life.
While you’ve likely made a plan for your future with your spouse, life in general doesn’t always go as planned. Accidents happen, storms and inclement weather damage property, theft or vandalism can occur, etc.
This is why we need to protect ourselves financially from what could happen. Insurance is the protective barrier between the threats of unexpected everyday life and the security of your family and future.
In our last blog post we discussed how marriage affects your auto insurance and what actions you should take now that you’re connecting your life with that of another. In this blog post, we will go a step further and discuss your home or renters insurance.
Once you tie the knot, you’ll probably be moving in together (if you haven’t already).
If you will be buying a home or moving into a new apartment, you’ll need to get a new policy, but if for example, your spouse is simply moving in with you into your current place, they will need to cancel their current coverage and be added to yours.
Keep in mind that your insurance policy will now need to cover not just your belongings, but your spouse’s too. 2You’ll need to increase your coverage limits to protect the combined belongings like furniture, electronics, and other expensive items.
2It may also be wise to “schedule” certain high value items that need special coverage. An obvious example of an item worth scheduling is an expensive piece of jewelry – like maybe a wedding ring, for instance.
Aside from just being sure everything is covered, there is something else you can do with your home or renters insurance that we generally recommend. See if you can bundle your home (or renters) renters insurance with your auto insurance.
If you have auto insurance with an independent agency like Sidle Insurance, allowing us to bundle your insurance can save you money and also help us to manage your insurance strategy more accurately, without coverage gaps.
Looking for some help on your insurance? We’re here for you!
Give us a call at (607) 535-6501, an email at firstname.lastname@example.org, or visit our office at 219 S Catherine St., Montour Falls, NY 14865.
And don’t forget to read part three of our “Engaged? Just Married?...” blog post series next month when we talk about life insurance.