Amidst the excitement of planning a wedding and honeymoon, you’re likely not thinking much about insurance. However, once the big day is over and you’ve started to settle into your new life, reviewing your coverage options should be a top priority. Getting married is a significant life event that warrants careful consideration of your homeowners, auto, and health insurance policies. Below is an overview of how your marital status can affect each of these.

A Guide to Marriage & Insurance

Homeowners Insurance 

If you and your spouse are moving in together for the first time after the wedding, you’ll only need to maintain one homeowners’ insurance policy. Any other coverage can be dropped. Then, you’ll need to review the limits of the remaining policy and increase the amount of personal property protection you have to include your combined belongings. If you have a valuable engagement ring or wedding bands, you may also consider adding an endorsement that’s specifically written to cover them. 

Auto Insurance 

One of the perks of marriage is reduced auto insurance premiums. Typically, insurers rate single drivers higher than those who are married. Therefore, changing your marital status can earn you savings. Additionally, if you and your spouse both own vehicles, you may receive a multi-car discount for combining your policies. Before making this decision, consult your agent to see if it’s a smart option. If one of you has a poor driving record or owns an expensive luxury vehicle, you may want to keep separate policies.

Health Insurance 

As a married couple, you’ll also want to look into your health insurance options. You can decide to join your spouse’s employer-sponsored plan, keep separate policies, or sign up through the marketplace. Getting married is a qualifying event, which allows you to select a plan from the marketplace or an employer outside of the regular enrollment period. Additionally, you’ll now have access to a family plan. These often offer better discounts and deductible choices.

If you’ve recently walked down the aisle, contact Sweeney Insurance Agency to begin exploring suitable coverage solutions. They’ll ensure your marriage gets started right by helping you secure adequate and affordable protection from the industry’s most reliable providers. Backed by five decades of experience, they’re proud to offer Kodiak, AK residents high-quality homeowners, auto, and health insurance products. Call (907) 486-3101 to set up an appointment or visit them online to learn more about their services.