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Love, Marriage, Life Insurance and More
If you've just gotten married and bound your hearts and souls together, congratulations! Now, once you get back from your honeymoon, wouldn't it be a good time to put a solid financial foundation under you're the life you will share?
Because you are now married, your insurance needs have changed from when the two of you were single. Take a look at your policies so that you can protect each other and get the most from your insurance.
Automobile Insurance
Be sure to let your insurance company know that you're now married because a lot of auto insurance companies offer discounted rates for married couples. And it wouldn't hurt to get quotes from new companies as well. You might be able to save more than your current insurance companies offer.
If you have more than one car, and combine policies, a multi-car policy will save you money immediately. If you decide to wait to combine policies, let your insurance agents know that they should cover each of you as permissive operators of each other's cars. And finally, if you carpool, see if there are any low mileage discounts available.
Life Insurance
Life insurance will provide the financial help for your spouse will need if you should die. It can cover whatever debts you've accrued. If you're planning on having kids or if you're buying a home, you will want to cover these additional new expenses should you pass away.
Although it might be a bit uncomfortable, why not talk to each other about how much life insurance you need today? Then, you'll want to review it regularly because needs change over the course of time.
If you're young and you don't feel that you can afford life insurance now, it would still be good to look into it because (1) you'll learn about the different kinds of life insurance plans for when you can afford it, and (2) you might be pleasantly surprised as far as how affordable some life insurance policies actually are.
Health Insurance
Take a look at your health insurance plans. If one of you has a better employer sponsored health plan than the other, it could be a good time to move your plans over. If neither of you have a plan, you may want to at least look into a high deductible plan. This way you'll be covered if a major event arises.
Homeowners Insurance
If you've just started living together you now have a lot more things than you had when you were single. Make sure everything is covered under your homeowners policy. You may find that you need to get additional homeowners coverage or a rider for some valuables that might not be covered, such as jewelry.
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