Getting Married

shutterstock_123330214Are You Getting Married?

Congratulations!  This is an exciting time in your life!  We want this to be a stress free time for you, so if you are worried about all the things that could go wrong, you may want to consider wedding insurance.  If you are interested in wedding insurance and would like more information, please contact us at Strand Insurance and we will be happy to help you.

How Does Being Married Affect My Insurance?

Getting married can affect your car insurance rates in a couple different ways.

  • Marital Status – statistics show that married couples get in fewer accidents, therefore insurance companies may offer better rates for married couples by putting them in a better market.
  • Multi-Car Discount – you may have more vehicles on your policy than you did before.  Many insurance companies offer increased discounts each time you add an additional vehicle to your policy.
  • Packaging Discount – now that you are married you may want to combine all of your insurance with the same insurance company to take advantage of their packaging discounts.

Getting married may also impact your homeowners insurance.

  • Packaging Discount – you may not have had a home before getting married and as a homeowner you now have the ability to package your auto and home insurance with the same insurance company to get better rates.
  • Coverage Limits – Now that you are combining households, it is a good time to look at your coverage for personal property and scheduled items coverage.  You may realize that you now have double the amount of belongings and you may need to increase your personal property coverage.  You may also want to consider the scheduled items portion of your policy.  Insurance companies often put limits on coverage for valuable items.

Here is an example that may apply to a newly married couple:  If you have a limit on jewelry of $1,500 and your wedding set is more valuable than that.  In order to get the proper coverage for your new wedding set on your homeowner’s insurance you will need to call your insurance agent and schedule this piece of jewelry by providing a description of the item, the value, and potentially an appraisal.

Do married couples need umbrella insurance?

Yes!  In today’s society, people are happy to file a lawsuit against you and as a married couple you now have more to protect.  You are not only responsible for your own protection now, but you have a spouse and potentially a family and increased assets that need protection.  An umbrella policy is built for that added protection that you may need.  An umbrella policy provides an extra $1 million or higher of liability coverage in addition to your liability limits for each of your vehicles, each home that you may own, each motorcycle, etc.  Umbrella insurance also provides additional liability coverage in areas that your other policies simply do not offer coverage.   For more information on what umbrella insurance is and why you may need it please give us a call.  An agent would be happy to explain what umbrella insurance is and how it may benefit you and your family.