You’re getting married! Wedding plans are being made, checklists compiled, and your dream honeymoon is booked. Lots of changes in the works. You may now have two incomes, bought a home or condo, or maybe you plan to rent. Will you have two cars now instead of one? Do you or your fiancé have student loans or existing medical bills? Are you planning to start a family? And then there’s retirement. I know it seems in the very distant future, but the future can be unpredictable. The list goes on and on. So while you’re making those wedding plans, this is also the time to sit down with your insurance agent and review your “new” insurance needs.
Auto insurance – Combining your auto insurance policies may be a money saver with multi-car and good driving discounts. In most cases, the premium for a joint policy is less than what you would pay for two individual policies. By combining policies you’ll also eliminate inconsistent liability limits that can leave you exposed. You’ll also want to update the legal and title information with your new legal name, if applicable.
Homeowners/Renters insurance – When merging households, both people are bringing furniture, electronics, and other personal belongings into the marriage. And let’s not forget all those wedding gifts. You may need to increase the limits of your homeowners or renters policy to better fully protect your home against theft, damage, or liability. Valuable items, like furs, antiques, firearms, and that beautiful engagement ring may need additional coverage. Again, you may have the advantage of multi-policy discounts if purchased from the same company as your auto insurance.
Umbrella Insurance – This is probably a policy that you don’t currently have in your portfolio, but may be necessary now. An umbrella policy offers extra liability coverage when your auto, renters, or homeowners policies have been reached and exceed their limits and will also cover defense and legal costs.
Life Insurance – If the worst happens, having a life insurance policy ensures that the surviving spouse is protected. Consider what would happen if you or your spouse suddenly passed away. Would he/she be able to hand the mortgage payments, utilities, car payments, and other essentials on one salary? Life insurance is a responsibility. The younger you are when the policy is established, the less you will pay in premiums and the greater the financial benefit will be. Even if both of you have life insurance through your jobs, make sure you name each other as beneficiaries.
Contact an insurance professional at Foundation Insurance Group. Our agents listen first, then review current policies, answer questions, analyze your needs, and lastly, explain different coverage options so that you begin your new life together fully insured. Our job is to make sure that the insurance you buy, actually protects you, so we’ll tailor an insurance program that protects you now and into the future.
Before you take that first step down the aisle, get your “insurance house” in order. At Foundation Insurance Group, we all wish you the very best and a long and happy life together.