Insurance Blog

Getting Married? 

Wedding ring

Getting married and embarking on a new life together is one of the most exciting experiences in two people’s lives. It’s a time of hope, promise, romance and … reality. Whether a couple is planning their wedding or deciding where to live, there are a lot of decisions to make before saying “I do,” especially when it comes to insurance.

Whether a walk down the aisle is in your future or you’re a newlywed, there are numerous insurance issues that come with being Mr. and Mrs. To keep them all straight, your Baldwin / Welsh & Parker Trusted Choice® independent insurance agent has these helpful tips on how getting married impacts your insurance. No wedding planner or over-priced flowers required.

 

Auto insurance

  • Most auto insurers view marriage as an indication of greater responsibility – especially for men younger than 25 – so most insurance companies offer lower premiums for married people.
  • Getting hitched also means you can add your spouse and their car to your auto insurance policy (or vice versa), which will likely lower your rate with a multi-vehicle discount.

Health Insurance

  • Once you are married, most group health insurance plans allow you to put your spouse on your plan – even if it’s outside the annual enrollment period. If you both are enrolled in group plans, analyze each of them based on your current and future health care needs. One spouse’s plan my have a lower premium, but require a higher deductible. Also check each plan’s policy limits and rules about pre-existing conditions.
  • If your new union includes new dependants, and you need to include them on your policy, you should contact your employer to add them to your policy. This can also be done outside the annual open enrollment period. If you have individual health insurance, you may need to prove the child or children’s insurability prior to adding them to the policy.

Life Insurance

If you already have a life insurance policy, you may want to update it so that your new spouse is the beneficiary. If you don’t have life insurance, tying the knot is a good time to get a policy. Life insurance provides you and your spouse with the peace of mind that you’re financially protected from the unexpected.

Homeowner’s/Renter’s Insurance

  • Couples can save money on their homeowner's or renter's insurance  once they are married for the simple reason that they’re under one roof instead of two. Couples who already live together, but have separate policies can get a joint policy after they tie the knot.
  • Whether you’re moving in together or already cohabitating, chances are you’re going to receive wedding gifts. Be sure to update your home inventory and insurance policy to include these new items. If you don’t have an inventory, you should create one that includes everything of value that you and your spouse own. The Trusted Choice Mobile App includes a home inventory tool.
  • It doesn’t matter if you’re the one who bought the engagement ring or you’re the one wearing it, you’ll want that sparkler to be insured. Most homeowner’s and renter’s policies can be adjusted to include a personal property rider to cover the cost of replacing the ring.

Wedding Insurance

  • Getting married usually means orchestrating a wedding or some sort of gathering for family and friends, and planning such a party comes with a hefty price tag. While couples make hundreds of decisions when planning their wedding – from finding a reception hall to choosing china – many don’t spend the time and money to get insurance for their big day. Wedding insurance policies are usually relatively inexpensive (about $125 to $275) and protect your big day from being spoiled by bad weather, illness/injury, or a missing officiant or vendor. Wedding insurance will also usually cover damage to or problems with your ceremony and/or reception sites that cause your wedding to be rescheduled.
  • Before you take your vows, make sure you have the right insurance to help you through good times and bad, in sickness and in health. Contact us at Baldwin / Welsh & Parker with questions about your policy or if you need a new policy. Your agent is always happy to help newlyweds navigate their insurance – and you don’t even have to invite him or her to the wedding!
Published in Insurance Tips

wedding season liability

It's not surprising that February is National Weddings Month. In time, you will have picked out the table linen, found your dream venue, and figured out a way to seat all of your family members in one room without them strangling one another—it must be time for your wedding! Family conflicts included, as much as you plan, you can never predict everything that may or may not happen on the “big day”. It is important to consider the many different ways you can protect your big day from being ruined by illness, a late vendor, or bad weather. It is best to contact your Baldwin / Welsh & Parker Trusted Choice® independent insurance agent as soon as you make the decision to be married (jewelry insurance anyone?), because your agent can walk you through the steps of obtaining wedding insurance as well. Every wedding is different so you also have options to add a “rider” or additional protections for the following: 

  • Military service—if you or your “soon-to-be” is suddenly called to duty.
  • Gowns and tuxedos—if the dress is damaged when you pick it up or the store suddenly goes out of business.
  • Gifts—if gifts are not covered by your homeowners or renters insurance, provides protection against theft or damage of gifts.
  • Honeymoon—in case you need to cancel your trip due to illness, bad weather or other circumstances.

Keep in mind that venues usually have their own insurance policies, so it is important to do your research to avoid paying double the cost. If you get married at your home or at a private property, you will need an additional stipulation to your policy to protect your event. 

Be sure to talk to us at Baldwin / Welsh & Parker before making major decisions like paying deposits for venues and limos. May your wedding day be filled with security, happiness, and plenty of wedding cake! 

Here's a terrific infographic to share:

Wedding Infographic

 

 

Published in Insurance Tips

Contact Us Today

Bedford, MA - 781-275-2114

Hudson, MA - 978-562-5652

Wayland, MA - 508-358-5383

Winthrop, MA - 617-846-0731

Memberships/Awards

trusted choice Baldwin Welsh Parker

S5 Box

Login

Register

You need to enable user registration from User Manager/Options in the backend of Joomla before this module will activate.