So you’re getting married. Between choosing caterers, flowers and other details, insurance may not be the first thing that comes to mind. But the choices you make now can be an important step in setting up your future lives together. Here’s what to consider when it comes to insurance for newlyweds!
Adding someone else to your health insurance outside of your company’s open enrollment period may require a life event for them to qualify — such as getting married. Typically, if you’re getting married, you can add your spouse without having to wait for your company’s enrollment period. Compare plan costs carefully. You may also want to discuss your options with your HR representative. Whether you choose to combine your health insurance or opt to continue to have separate health insurance, be sure to discuss with your future spouse what options are right for you.
Another important kind of insurance to consider before you get married is life insurance. When you’re young and healthy, life insurance seems like an abstract idea. But the benefits to getting a policy as soon as possible are too many to ignore. Life insurance usually falls under two main categories, term and permanent, and they’re more versatile than many people think. A life insurance policy can ensure that you can continue to live in your home, donate to a favorite charity, or pay for your child’s college education. If you already have a life policy, you should review your beneficiaries before you get married to ensure your information is up to date.
Renters and Homeowners Insurance
Whether you own or rent your home, you’ll want to make sure you’re properly protected. A renters policy can help you cover the loss of your furniture, clothes and other personal items if they’re stolen or damaged. A homeowners policy can cover this in addition to the structure itself. And for a little extra coverage against life’s rainy days, you may also want to consider umbrella coverage, which can cover the costs that go beyond the limits of your homeowners and auto insurance liability limits.
Scheduled Personal Property Insurance
While a renters or homeowners policy can go a long way, these policies often don’t provide enough coverage for certain valuable items like cameras, fine art and even that engagement ring. Adding scheduled personal property insurance to your homeowners or renters policy can help you ensure that your high-value items are protected from the unexpected.
It may be a good idea to add your future spouse to your auto policy. Contact your local Farm Bureau agent and discuss which options work best for your situation.
It’s your future. Let’s protect it.™
Your future may involve a lot of planning, but you’ll be glad you did. The best part is, you don’t have to do it alone. If you’d like to learn more, schedule a SuperCheck® with your local Farm Bureau agent to discuss your goals.