6 Smart Insurance Questions for Newlyweds and Soon-to-Weds
So you’ve tied the knot – or at least are starting to prepare for the big day. This major life step often leads to plans to buy a house or upgrade your apartment so there’s enough room for the two of you… and perhaps some future bundles of joy.
Amid the whirlwind of excitement and change, insurance may not be top of mind as you’re mapping out your new life together. But making some smart decisions now can help ensure sure you are well protected and positioned to thrive into the future.
Here are six smart questions to discuss with your insurance agent.
6 QUESTIONS TO ASK AN INSURANCE AGENT IN YOUR 20’S AND 30’S
1. We’re getting married. Should we wed our auto insurance as well?
If one of you has a Mad Max-like driving history, then auto insurance might be one of those things you don’t merge once married. But if you and your spouse both have good driving records and no recent gaps in insurance coverage, you might save money by combining policies.
2. We’re hunting for our first house – should homeowners insurance weigh into what we buy?
In the excitement of finding that first home, some buyers forget to consider the cost of homeowners insurance, and how different locations and types of homes might impact it. According to Realtor.com, the average annual cost for homeowners insurance is $952. However, factors such as distance from a fire department, proximity to storm-prone coastal areas, age of the home and your claims history can play a role in what it ultimately costs to insure a particular house.
A conversation with your KVIS & Coe agent as you start your search can give you a better perspective on potential costs and how they may impact what you can afford.
3. We’re having a baby. Should we get life insurance?
A new baby brings new responsibilities – and new expenses. Life insurance can help make sure that if an untimely death occurs, the surviving spouse can handle those responsibilities and costs without interruption.
Life insurance pays money to a chosen beneficiary — a spouse or co-parent, for example — when the insured person dies. In the short term, you can use the life insurance proceeds to pay for funeral expenses. Over time, it can help pay the mortgage and fund your child’s education.
4. Term or whole life?
So you’ve resolved to get life insurance. Now you face a new question: What kind?
- Term life: Term life insurance provides coverage for a specific number of years (such as a 30-year policy to sync up with your new 30-year mortgage). For young people starting out, term is often the easiest, most affordable option.
- Whole life: If you’re looking for lifelong coverage, then consider a whole life policy, sometimes called a permanent life plan. A smart approach is to get term insurance and make sure you’re covered now. During your policy term, you may often have the option to renew it or convert it into a permanent life plan.
A local KVIS & Coe agent can explain your options and help you decide what’s best for you.
5. What do you offer beyond the basics for homeowners insurance?
We get it: Your home is often the biggest investment you’ll make. It’s worth it to add on some extra protection to protect what you’ve worked so hard to achieve.
Ask your local agent about KVIS & Coe Bundles, which allow you to expand your protection beyond our standard homeowner’s policy with coverage available for underground service lines, appliances and more.
6. We’re digital natives… why do we need a human insurance agent?
It makes sense to buy a lot of products online. Buying online is often easier – and sometimes more cost effective. But when it comes to insurance, a DIY online policy isn’t always the best choice. Because insurance protects the things you care about most, there are benefits to working with an insurance agent.
As an experienced local pro, a KVIS & Coe agent can answer your questions, help you understand what you really do (and don’t) need and talk you through things if you ever need to file a claim.
GETTING MARRIED? GET A QUOTE WITH KVIS & COE
At KVIS & Coe Insurance, we’ve been working side-by-side with the best local agents in the business since 1973. See the KIVS & Coe difference for yourself: Get a free quote from us today!
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