Ending a marriage brings about all kinds of changes, so it’s only natural that your insurance coverage will need modifying, too. Here are some of the most critical steps to take following your divorce to ensure you have adequate coverage for the next chapter of your life.

How to Keep Your Coverage Current After Divorce

1. Update Your Life Insurance

Depending on the terms of your divorce, you may have to purchase a new life insurance policy and name your ex-spouse as the beneficiary. If you’re responsible for alimony or child support, such a policy will ensure they get all necessary funds should something happen. If you’re not responsible for making any such payments, but you have an existing policy that you took out while married, you may want to change its beneficiary or cancel it altogether.

2. Review Your Health Insurance

If you have health insurance through your employer, the divorce should not affect your coverage. However, if you have it through your ex-spouse, you’ll have to secure a new policy either through your employer or the marketplace. Under COBRA coverage, you may be able to remain on your ex’s plan for up to 36 months while you shop around.

3. Modify Your Property Insurance

If you were awarded the house during the divorce, you’ll have to put the homeowners policy in your name only. Alternatively, if you’re the one who’s moving out, purchase an adequate renters policy to protect your belongings. Your car insurance policy will probably also need to be modified, since your ex-spouse no longer needs to be a covered driver.

If you need to update one or more policies following a divorce, turn to the knowledgeable team at IGO Insurance in Raleigh. Serving clients throughout North Carolina since 1970, this independent agency has developed a working relationship with more than 15 reliable carriers to ensure you the best deal possible. To explore all the products they carry, visit their website. To request a quote, call (919) 782-1560.