Marriage is one of life’s biggest milestones—a new chapter full of excitement, joy, and, let’s be honest, a lot of planning. While picking out flowers and writing your vows may be top of mind, there’s one crucial step many newlyweds forget to include on their checklist: reviewing your insurance plans.
From health and auto to life and homeowners insurance, tying the knot can significantly impact your coverage needs.
1. Combine or Coordinate Health Insurance
If you and your spouse both have health insurance through your employers, now’s the time to compare plans. Ask these questions:
- Which plan offers better coverage?
- Whose premiums and deductibles are lower?
- Are your preferred doctors in-network?
You may find it’s more cost-effective to be on one plan together—or you may choose to stay on separate plans if it makes more sense financially or logistically.
Pro tip: Marriage is considered a “qualifying life event,” which means you don’t have to wait for open enrollment to make changes.
2. Update Your Auto Insurance
Now that you’re sharing a life, you may also be sharing a driveway. Combining your auto insurance policies under one household could save you money thanks to multi-car and multi-policy discounts.
Be sure to:
- Add each other as drivers on your respective policies
- Update your address if you’ve moved in together
- Ask about any loyalty or safe driver discounts
3. Review Your Home or Renters Insurance
If you’re moving into a new home or combining households, your homeowners or renters policy needs to reflect your current situation. Ensure your belongings are covered, especially any newly acquired items like:
- Wedding rings and gifts
- Electronics and furniture
- High-value items that may require special coverage
Don’t forget to update the policyholder information and notify your insurance provider of any address changes.
4. Reevaluate Life Insurance
This is a big one—especially if you’re thinking about the future, like buying a home or starting a family. Life insurance isn’t just about protecting yourself; it’s about protecting your partner from unexpected financial burdens.
- Consider a term life policy for affordable coverage during your prime earning years
- Update your beneficiaries on existing life insurance policies, retirement accounts, and employer benefits
- Talk with your agent about how much coverage you both need based on shared debts, income, and future plans
5. Review Your Beneficiaries and Coverage Limits
Marriage is the perfect time to sit down and look at all your policies—auto, life, health, and beyond. Check for:
- Updated beneficiary designations
- Appropriate coverage amounts
- Any gaps in protection
Think of this as a fresh start for your financial future.
Contact John Johnson Insurance Services!
Marriage is about building a life together—and that means protecting it, too. At John Johnson Insurance Services, we’re here to help you and your spouse review your current policies, answer your questions, and create a plan that fits your new life.
Need help reviewing your insurance? Contact us today for a free consultation—we’re here for all your “happily ever after” moments. If you or someone you know is looking for a talented group of insurance providers in Budd Lake, New Jersey, contact our office at (908) 747-4282!