Love, Marriage, and Insurance

Marriage can be one of the most significant events and times in a person's life, and just as important as it is to love and cherish your spouse, it's equally important to be sure you have enough insurance coverage so that you are both taken care of. That is why it's important to review your life, homeowners and car insurance coverage and see if any adjustments can be made to help you out financially in your new married life.

Life Insurance
Life insurance should be the first thing you consider or review when you become married. 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.

Health Insurance
Combining health insurances is another thing that you may want to take a peek at once you are married. If you have a good employer-sponsored health insurance plan, it may be more cost effective to move your spouse over to your plan. Then of course, your spouse may have a better plan than you, and you may need to switch to theirs. It's most important to review the features and benefits of both health insurance plans and compare them to see which will work best for you and your spouse.

Additional Coverage
When it comes to married couples' valuables, it is very important to be sure you have adequate coverage in the event something happens to your engagement or wedding rings. 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. 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 is better to have it because actual cash value factors in time depreciation for the item. Which 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.

Car Insurance
It's important to inform your auto insurance company or agent that you are married, because many auto insurance companies offer discounted rates for couples who have "tied the knot". Also, check to see if they offer any other discounts, such as multi-car or multi-policy-who knows, you may be able to save more than you thought!

If you are interested in getting a life insurance, homeowners insurance or car insurance quote, log on to Insurance.com. Here you will be able to evaluate multiple rates from best-in-class life insurance providers - helping you find the best life, homeowners and car insurance coverage for you and your spouse.