Getting Insurance as a Couple

Marriage is a life-changing event - legally and financially. Insurance agents recommend reviewing your policies and coverage options before you tie the knot.

WHN TIP: Coverage Options

Some insurance agents might have a pre-marriage packet or pamphlet to walk you through your coverage options. Your coverage options will vary by state, employer and insurance company. Ask your insurance agent about all of your coverage options.

Life Insurance

  • Look into several policy options before purchasing.
  • If you already have a policy, meet with your insurance agent to update your coverage and list your spouse’s name on your policy.

Wills

  • Meet with your lawyer to update your documents and beneficiary designations.
  • If you don’t already have a will, now might be the time to begin drafting a will.

Health Insurance

  • If you both have health insurance through work, you may want to consider choosing one joint plan.
  • Compare your co-payments, premiums, deductibles, additional coverage and benefits and participating doctors, clinics and hospitals.
  • Most health insurance companies offer an “open enrollment period” which generally comes only once a year. This is a 30-60 day window where you can add your spouse to your policy. However, some companies will allow you to add your new spouse to your health plan right after your marriage.

Homeowner’s and Renter’s Insurance

  • Consider adding a “floater”, an additional policy, to cover your new engagement and wedding rings.
  • Consider increasing the coverage amount of your homeowner’s or renter’s insurance. You will need to have coverage for your spouse’s belongings as well as your own.

Property Ownership

  • Consider updating any titles, deeds or other documents for any property you currently own.
  • Any property purchased after marriage is considered marital property. You may want to meet with a lawyer to discuss your options regarding current and future ownership of properties.

Auto Insurance

  • If you will be driving your spouse’s car, or vice versa, make sure both your names are listed on your policies. You can also set up an individual household policy.
  • Ask your agent about possible discounts available for married drivers or for multiple cars.

Have more questions? Talk to your insurance agent or lawyer about your coverage and legal options.

Updated: 5/2009