Life events that will change your insurance needs
- Author Marcus Stalder
- Published February 20, 2011
- Word count 511
Changing your marital status, going on retirement or giving birth to kids - such events are important milestones in any person's lives that can change a lot of things. But rarely do people thing about the impact such events can deliver over certain financial aspects like auto insurance. Nevertheless, important decisions that change your live will lead to changes in the rates you pay for insuring your auto as well. And here are three most influential events that can seriously affect your insurance needs and expenditures:
Getting married
No doubt, marriage is one of the most important events in a person's life that changes a lot of things. From the financial point of view it means that your and your spouse's assets are merged together, and this of course leads to change in responsibilities and insurance needs. However, it might go as a surprise but marriage can actually help you save money on car insurance. The change of marital status itself already puts you in a certain group of drivers who tend to take fewer risks while behind the wheel (at least insurance providers think so). Besides, in a typical family with two or more cars you can save on car insurance by getting a single policy for multiple cars. Most insurance providers offer generous discounts for doing so, why not taking the advantage of it?
Widowed or divorced
Divorce or widowhood is a very tough situation for any person. Moreover, it can seriously affect your car insurance needs and costs. Being the sole car user in the household will certainly raise your premiums, sometimes much higher than you had prior to marriage. Still, there are some ways to cope with the situation. Of course, you should shop around for car insurance as soon as you realize that the rates went up. There is always competition on the market and you should use it to get the best rates possible. Besides, you will have to renew your insurance needs, because some types of coverage that you needed in the past as a married person will now only push up your premiums without use. In case your budget has become really tight, consider raising the deductible up to the point you can afford. This will lower your premium. But make sure that the amount you've chosen is a sum of money you can really afford to pay upfront in case of an accident.
Going on retirement
Going on retirement is the perfect opportunity to review your insurance needs. First of all, you will spend less time in traffic because you won't have to visit the office every day. Besides, your driving experience will work in your favor and your rates will certainly drop. In many cases, retirement means that you don't need multiple cars in your household and your coverage options will also get downsized. So it's a perfect opportunity to get cheaper car insurance and enjoy traveling without having to worry about costly coverage. Still, it also pays to shop around since you can find even better rates after you retire.
To read more of Marcus Stalder's comprehensive investigations on different subjects visit [http://www.compareinsur.com/articles/important-life-events.html](http://www.compareinsur.com/articles/important-life-events.html), where he frequently writes form making people aware of more things in the world.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- The challenge of Cholera today
- The Ultimate Guide to 3D Animation: From Basics to Advanced Techniques
- Strategic Equipment Financing: Simplifying Capital Investments for Sustainable Growth
- Transform Your Health Journey with Able's Online Weight Loss Counseling
- Are the Crocs' shoes good for your feet?
- Your Ultimate Guide to False Eyelash Types: Find Your Perfect Match!
- Discovering Lighting Stores in Brampton: Spotlight on Fehmilights
- Blue Pacific Financial Loans
- Why is SEO for businesses on the Wirral important
- Proton Mail In Vivaldi Email
- Email Deployment
- Search Engine Marketing: Unleashing Its Power for Your Business
- Squarespace email campaigns vs Mailchimp
- Squarespace email campaigns vs Mailchimp
- Commercial Cleaning Services in Auckland: A Deep Dive into Angel Cleaning
- What is CCTLD?
- Why Women of Color Need to Support Kamala Harris
- Email Extractor from CSV
- How to download Gmail email content into a CSV file.
- Is email marketing legit?
- How SEO Can Improve Your Business?
- Mitsubishi Electric proves heat pump compatibility with microbore pipework
- Polio: Doctors Struggled to Advise the Public Correctly.
- What makes the city of Melbourne such a unique place?
- What is the role of the Royal Society of London?
- Festive Decor with a Global Twist
- Mixer of Styles, The Boho Mid Century Farmhouse
- Explore Cape Town: Group Cape Town Tours With a Private Shuttle
- Exploring Airbnb Cleaning Service in Auckland: History, Trends, and Future Implications
- Chauffeur Car and Driver Hire Services in Cape Town