Central Insurance Blog

Recently, my Facebook newsfeed has been flooded with relationship status changes! Many of my Facebook friends are now either “engaged” or “married”, and it isn’t even engagement season yet! Now you may be thinking, there is actually an engagement season? Yes, studies show that a majority of engagements take place between Thanksgiving and Valentine’s Day each year. I guess this means my newsfeed will really be bombarded next month!

Are you thinking about taking the BIG step and popping the question or do you know someone who just did? Or maybe you already survived the big day and changed your relationship status to “married” on Facebook. If so, you’ll want to review your policies to see how saying “I do” affects your insurance coverage.

Auto Coverage

• You may be able to combine your auto policies into one policy. This could qualify you for a multi-car discount from your insurer. Driving records can impact this, however, so you will need to discuss with your significant other whether or not they are a “speed demon” and have a history of violations.
• Policy rates for married drivers are usually lower than those for single policyholders, which is another reason why it is important to notify your agent of your marriage.

Home or Renter’s Insurance

• As a newly engaged or married couple, you may be changing your living arrangements. Maybe you are moving out of your parent’s home, renting an apartment, or buying a house. Any of these changes should be discussed with your agent.
• If you rent, you should consider purchasing renter’s insurance to cover your personal property and provide liability coverage. Click here to learn more about renters insurance.
• If you have moved in with your spouse, you will want to review your policy to see if it has enough coverage for both of your belongings.
• It is important to remember that most homeowners and renter’s policies have a limit on jewelry coverage, so you may need to schedule your “rock”.  Click here for more on scheduling jewelry and other items.

Health Insurance

• If both you and your spouse have health insurance, you’ll want to consider adding yourself to your spouse’s or vice versa so you aren’t paying for duplicate coverages.

Have you recently had a status change or are you planning one in the near future? Then there’s no time like the present to review your insurance coverages with your independent agent to assure you are adequately protected as you start your life together!