Congratulations! You’re Engaged! Planning a wedding can feel pretty overwhelming. Our recently engaged agent, Christina, is familiar with the feeling. As a licensed agent however, Christina also recognizes there are some important items to address. So, we asked her to help us gather up a few tips that she would want all newly engaged couples to know. These tips can’t be found in a bridal magazine, but they can be just as important to making your big day (and beyond) the best it can be.
Keeping the Bling
Yes, the ring looks beautiful on her hand, but how to insure it? Her fiancé, Kevin, bought the ring, but when he gave it to Christina, it became her property. She has several options. Christina can either schedule the ring on her tenant/home policy or depending on the appraised value, she may have automatic coverage at no extra charge.
Booking the Perfect Venue
Busy researching where her wedding and reception will be? Sometimes a venue will require proof of liability insurance. The good news is a homeowner’s policy can extend liability coverage to a venue for a one-day event. But whose insurance policy covers it? If one or both of you have a homeowner’s or renter’s policy, either one will suffice. If you still live with your parents, their policy may extend coverage.
Who is Driving What?
Did you know combining auto policies results in a multi-vehicle discount? Both cars must be titled to either the bride or groom to be, (parents name should not be on a title) once married. A good idea is to schedule a time to meet with your agent prior to the wedding to review and compare both auto policies. Your agent will be able to explain any coverage difference between the policies and provide a quote to combine them.
Playing the Name Game
Most brides still change their name once married. The new insurance policies must all reflect their new married name. Call your agent if you have changed your name. Your agent will issue new ID cards and declaration pages for all policies reflecting your new name.
Life After “I Do”
Once married, you may be part of a dual-income household. New budgets, new incomes, new financial responsibility is your new reality. Life insurance is a very important part of planning for newlyweds. Should a tragedy happen, would the surviving spouse be able to afford mortgage payments and any debt left behind? (car loan, college loan, credit card debt?) Did you know Group Life Insurance from an employer ends when the job ends? Unfortunately, 4 in 10 people only rely on group life insurance through their employer. Consider purchasing life insurance for both yourself and your spouse. The good news—Life Insurance is much cheaper than most people assume. Plus, the younger you are the lower the rates.
We are looking forward to Christina and Kevin’s big day! Please remember to stay in touch with your trusted Anthony Insurance agent as you transition into this exciting phase of your life.