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Insurance tips for newlyweds

All the hectic preparations are over, the weather was great, the pictures turned out awesome and even that crazy uncle of yours who sometimes get embarrassing behaved himself at the reception. So, now that the wedding is over and you’re settling into married life, take a moment to consider how your new relationship status might affect your insurance.

Insuring your rings. Your engagement and wedding rings not only signify your love, they likely cost a fair amount of money too. Most home insurance policies generally have a maximum coverage amount for jewelry… that’s the value of all of it “combined”. If you think additional jewelry coverage makes sense for the two of you now that you’re living together full time, contact your broker for guidance on a policy that fits your situation.

Declare your additional licensed driver. It doesn’t matter that you each have your own vehicles; if you weren’t living together before you were married, you’ll need to let your respective brokers know you’re now living together full time. Make sure you have your new spouse’s driver’s license details and insurance policy information.

Bundle your policies. You’ve merged everything else from “mine” and “yours” to “ours” and in makes sense to do that with your insurance policies too. More often than not, there are premium savings to be found when you bundle your policies together with the same insurance provider.

Since you’re on the phone anyway, why not check into whether or not there are any other discounts you may be eligible for. From the driving side, you may be eligible for, such as: an anti-theft discount for drivers who install an after-market alarm system or use a physical anti-theft device; a conviction-free discount for drivers who maintain clean driving records for a set amount of time; a multi-vehicle discount for drivers who insure more than one vehicle with the same company; among others.

The same goes for your home insurance. Maybe you qualify for a new home discount, offered by some insurers for newer homes. Alarm discounts, for homes with centrally monitored fire or security alarm systems is another worth checking into, as is a water damage prevention discount for homes with leak prevention and shut-off systems. These are just a few examples.

Lastly… at least for the purposes of this list, take stock of your possessions not that they’re all under one roof. Update your home inventory to include everything in your new home, that way, in the event of an emergency, it can help your insurer process a home insurance claim as quickly and easily as possible.

If you would like to discuss these or any other life changes that could affect your insurance policies, the brokers and CSRs at DPM Insurance Group are always willing to help. Click here to find which of our six locations is most convenient for you: https://dpmins.com/locations/


Source: Economical Insurance


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