Insuring Your New Life Together: A Quick Primer

Newlywed Insurance IdeasAs a single woman, it’s likely the idea of an insurance policy of any kind ever crossed your mind. In fact, if it did, you probably considered it another expense you just didn’t want to deal with.  Sure, most single people carry health and auto insurance, but very few purchase life insurance.

Things have suddenly changed for you. Take a moment to think about all the differences marriage brings about: a bigger home, most likely, another vehicle, and eventually children – all of these factors should be considered when planning your future as a couple. Thus, one of the most important things you and your spouse can do is to insure your life together by considering different types of insurance available on the market.  Check out NewlywedFinances.com for more information on newlywed insurance options.

Once you get married you become responsible for another human being and want to protect him or her from the unexpected. Every couple should have a health insurance. That’s just a given. Many employers offer group health insurance that covers you and your spouse, but if it is not the case with your individual employers, both you and your partner should look into purchasing coverage.

Additionally, life insurance is essential, as it protects your family, providing necessary financial resources in the most difficult time. If you thought of putting off the life insurance until later in life when you get older – think again. The younger you are when you purchase life insurance – the lower your premium will be. Keep in mind you’ll be asked to choose between term and whole life insurance plans. Decide which one makes sense in your situation by talking with a reliable insurance agent. Intelliquote.com is a site that lets you compare multiple quotes from life insurance companies to ensure that you get the best rate available.

When it comes to homeowners or renters’ insurance, it is important to consider it when you and your spouse are buying a new house. If you or your partner already had insured property in the past, it would be helpful to contact the same insurance company – its agents will probably offer you a discount on a new policy.

Remember that any insurance policy obtained prior to marriage should be modified, reflecting your new status as a family. Do not forget to indicate the name change or address change; add your spouse to the policy and change the name of the beneficiary on your life insurance, if applicable.  Once all this is done, take a deep breath and relax…you’ve now got it all covered!

Have you considered getting more/new insurance now that you’re a newlywed?  We’d love to hear your experiences and what you thought was the most valuable thing to insure, so please leave us a comment.

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Advice dispensed with class and a little sass. Everything from how to cope with post-wedding blues to the best ways to entertain and enjoy life as a MRS.!