Marriage is a big deal. Beyond the relationship, wedding, and all the well-wishes, being married also means tying yourself financially to another person, from joint accounts to moving in together into a brand-new home. It’s important to make sure all of this is protected, from the new assets and property in your life to those who might depend on your income to make ends meet. In this article, we’ll go over three types of insurance policies you and your loved one should talk about taking out.
Homeowners Insurance for Your New Home Together
A part of most married life is buying a house. Anyone can tell you that this is a big investment, and it’s one you should protect. If this is your first home, it’s important to know about homeowners insurance for new home buyers. During the process of buying a home, many lenders will make homeowners insurance a requirement on the mortgages. Some other things to keep in mind:
- Doing a Home Inventory: Before getting homeowners insurance, do a home inventory to make sure you’ll have the coverage for all of your combined possessions. If you had homeowner’s insurance before marriage, make sure to do a new one with the addition of your spouse’s items.
- Insuring Wedding Rings: One of your new expensive possessions will be your set of wedding rings. When looking at insurance policies, some will cover jewelry, while others will have a cap on such expensive and small items. Learn more about it in our engagement ring blog.
Don’t Own a Home? Think About Renter’s Insurance
A lot of these same coverages are just as important if you’re renting instead of buying, and can provide the same coverage to your possessions and interior of your home. Learn more in our full whitepaper, What Does Renters Insurance Cover?
Life Insurance for Your Dependents
A home, a new car, new possessions, and services: a lot of things become attainable when you’ve married your incomes. What happens if one of you is gone? Life insurance is about providing this protection to your loved one if you’re unable to be there to provide them financial security. If you’re thinking about having children, even if it’s going to be later, life insurance is a must have. Learn more about the perks of getting life insurance when you’re young here.
Umbrella Insurance for All the Little Things
Umbrella insurance is a policy that provides extended coverage to your other policies mentioned above and more. It also fills in gaps left by other policies, from injuries and liability to property damage. Learn more about it in our blog, What Is Umbrella Insurance? and our whitepaper, The Full Scoop on Personal Umbrella Insurance.
Marriage is a big journey, but you two don’t have to go it alone. Talk today to an agent at the TJ Woods Insurance Agency to discuss your unique case and needs, and we’ll help you find the perfect insurances from among the top carriers. Beyond the above-listed insurance, we also provide personal and business insurance of all types as an independent insurance agency.
