When couples divorce, they go through a plethora of life changes. In fact, this change in marital status even has an effect on things such as homeowner's insurance. As you work your way through the divorce proceedings, keep in contact with your insurance agent to be clear about what you need to do to keep your home and belongings protected. Below outlines how the divorce will influence your existing policies. 

Making Changes to Your Homeowner’s Insurance 

When you purchase your homeowner's insurance policy, the declarations page outlines exactly who and what is covered by the policy. In all likelihood, the policy is jointly owned by you and your spouse, as well as any children under the age of 21 living in your home. By law, anyone who continues to live in the home after the divorce is still covered by the policy. 

It gets more complicated if one spouse moves out of the home before the divorce is final. Ultimately, that partner should be removed from the policy once the divorce is final. However, both names should remain on the policy while the proceedings are underway. This protects the interests of both parties. No one can make any changes to the policy before the divorce is final without the consent of both parties. 

When a spouse moves out and takes furniture or other belongings with them, especially valuable items, the homeowner's insurance coverage may need to be modified. It won’t cover items that aren’t located on the premises. If the property is split between both spouses, the policy will need to be modified again once the divorce is final. 

Custody Agreements and Home Ownership 

Legally, homeowner’s insurance policies must be insured by the property owner. Therefore, if one spouse gets the house through the divorce, and the other spouse no longer owns the property, then the insurance policy must be amended to reflect that. Once the divorce is final, the spouse who owns the property has all rights to make decisions about insurance coverage. 

If you have children, the custody agreement can also influence your homeowner's insurance. If you share custody and your children live with the other parent part-time, your homeowner's coverage may need to be amended to reflect their part-time residency. Your insurance agent will go over your options and get your policy up-to-date. 

Whatever your life situation is, having an insurance agent on your side is important. The experienced independent agents with  Advantage Insurers, Inc. in Demorest, GA, are ready with the skills and knowledge you need to protect your family, home, and business. They work with several of the nation’s leading companies to provide homeowner’s insurance, as well as other types of coverage. Visit their website to learn more about their services, or call (706) 754-1590 to request a quote today.