Insurance for newlyweds doesn’t have to be complicated! Entering a new chapter in your life is a great time to reevaluate your needs and goals for the future. Give your insurance agent a call and ask for an insurance review session! Allowing them to review your all policies can help you to avoid gaps or overlaps in your coverage. Many people believe that getting separate quotes for each policy can help them to save money. Unfortunately, this isn’t always the case. Having multiple different insurance carriers can often cost you more! There are several reasons for this:
- Firstly, many carriers have billing, service, or other similar additional fees associated with having a policy. The fewer carriers you have, the fewer additional fees you’ll be subject to.
- Secondly, you may be missing out on discounts! Most companies offer multi-policy discounts if you have more than one line of insurance with them. By spreading our your home, auto, life, and any other policies, you’re missing out on your discount! Combine your insurance, and you may qualify for discounts that you didn’t previously!
- Lastly, by keeping policies separate, you’re opening up yourself to insurance gaps and overlaps. Agents at different insurance companies don’t have a way of knowing what policy lines you have elsewhere. So unless you bring policy documents or know exactly what coverage you have, you could end up with overlapping policies. On the other hand, you could end up with insurance gaps. But don’t worry, these gaps are easy to cover with optional policy add-ons or an umbrella insurance policy! Click here for more information about why you may want to combine your insurance with one carrier!
Wedding Ring Coverage
Jewelry and other valuable items likely have coverage under your homeowners policy, but standard coverage limits are often fairly low. In order to insure your high value items, like wedding rings, you’ll need to get an appraisal. This will help you decide how much insurance coverage you need to obtain to insure your item. Having an appraisal can also help to speed up the claims reimbursement process, should you ever file one. Then, you can add a floater endorsement to your policy. The floater endorsement adds additional coverage for an item above the underlying limits of your homeowners policy.