Getting Married : Have You Thought About Your Insurance? Posted by www.247QuoteUs.com on 16th March 2009
As we all know, getting married is not an easy thing to do. Setting aside the difficult step of finding love and your eternal soulmate you still have the actual wedding to plan, guests to invite and vows to write. It is no wonder many married couples often forget some of the very important details of things that need to be dealt with once you return from your blissful honeymoon, one of the largest being your insurances.
Insurance might not the most thrilling issue to have on your mind while you are walking down the aisle with your life partner to be, on the happiest day of your life. That is why we are reminding you now. Considering your insurance options as a married couple before the wedding will save you a lot time to and stress in the future. Fact of the matter is that married couples often end up paying less together than with separate insruance policies.
If both you and your spouse are working and carrying separate group health benefits through the employer , a good idea is to look into the possibility of including one or the other under one group plan. This, rather than having both of you pay employee contributions for separate policies which more than often would end up costing more. The same goes for individual medical insurance plans. Your insurance company likely offers the option of adding one or more family members, check into your policy and have your spouse do the same to compare which would provide the most comprehensive service for the most affordable rate.
Marriages normally also include a change in housing situations. Whether you are selling your previous home or giving up your apartment, you need to cancel any attached homeowners insurance policy and inform your insurance company of your changed status and living situation. Landlord insurance may also be worth considering if you are renting out your old apartment, house or condo. Another good idea is to get increase coverage for your new home, as it will now include both you are your partners possessions, thus increasing its overall value.
Marriage is often the start of a long and wonderful life together, however planning for the future of your spouse's , and potentially family's, well being needs to be taken into account. Even if both you and your spouse are currently working and carrying individual life insurance policies, in the prospect of starting a family together, a joint life insurance policy may be worth considering. There are many insurance companies that offer joint life insurance policies, so that whatever happens, both you and your spouse will carry a life insurance coverage.
When dealing with auto insurance, it may be a good decision to join up on the same plan as there are often discounts associated with it, if not it is still prudent to change your status to married rather than single. Married couples are often offered discount rates on car insurance. This is for a number of reasons : younger males, for example, are normally considered a high risk and less responsible when single. However, as a married man you become less of a risk and thus cheaper to insure by the insurance company. Another reason is the financial stability that normally comes with marriage and double-income.
Advantages Regarding Married People's Insurance
Splitting the cost for insurance with your better half is an advantage single people cannot enjoy. In addition to this many companies offer family discounts and joint policies that will suits your needs as a married couple.
So before you send out the wedding invitation, take a moment with your partner and discuss the considerations mentioned above. Insurance may be a boring topic, not made for wedding speeches or a fireside chat, but it is important. As you have likely learned in your wedding preparation , it is always best to plan ahead as well as anything that can be accomplished before the big day should be.
This article was written by Barbara Waltz one of the founders of 247QuoteUs.com , an online resource blog and insurance quote comparison guide.