After saying yes: change, merge or cancel insurances
The wedding is an exciting event in the life of every couple. It doesn’t just mean love and togetherness, but also responsibility and change. One of the things many couples need to address after their wedding is changes to their insurance policies. Making a sensible decision can save a lot of money in the process.
It is important to check what insurance both partners had before marriage. Couples should be aware that their insurance rates may be recalculated by insurers after the wedding. In some cases, it may even be necessary to get insurance quotes from other providers to find a cheaper deal.
Changing insurance policies after the wedding is not always easy. It takes a lot of time and effort to determine which insurance policies should be merged or which should be canceled. In this article, you’ll learn what changes you should make to your insurance policies and how to go about it.
Important: The decisions you make regarding your insurance policies after the wedding can have an impact on your life. Therefore, you should research your options in advance and take steps to make the best decision possible.
Which insurances are important for married couples?
Taking the plunge into a joint marriage not only changes things legally, but also insurance-wise. It is important to put all insurance policies to the test and adjust them if necessary. This includes merging or canceling insurance policies.
One of the most important insurances for married couples is liability insurance. This should definitely be taken out jointly in order to be optimally covered in the event of damage caused by either of them. Private household insurance should also be checked – as a rule, it makes sense to combine it.
In addition, the working capacity should also be insured. An occupational disability insurance is essential here to be financially secured in case of an emergency. Term life insurance can also be useful to protect your partner in the event of death.
- Other important insurances for married couples:
- Health insurance – here it depends on the choice of health insurance company whether a joint insurance is possible.
- The car insurance – in case of existing cars, this should be adjusted and taken out jointly
- Legal expenses insurance – especially important if there are also children
How to merge insurances?
When you get married or move in together, the question often arises as to which insurances you should keep, which you should change, and which you should combine. One option is to merge several insurance policies to save money and reduce the administrative burden.
First, you should get an overview of all existing insurances and check them for their necessity and efficiency. After that, you can consider which insurances can be combined. For example, a homeowner’s insurance policy and a liability insurance policy can be taken out together with one provider in order to obtain discounts or better conditions.
It is also important to compare the terms and conditions of the insurances to make sure that combining them will actually save money and not lead to a higher price. In addition, one should be aware that a merger can lead to having less flexibility in the choice of providers and rates in the future.
If you decide to merge, it’s important to review policies carefully and cancel or adjust them if necessary. One should also consider the cancellation periods and the consequences of early cancellation.
All in all, merging insurances can be a sensible option to save costs and to keep the overview. However, one should proceed carefully and inform oneself thoroughly in order to avoid undesirable consequences.
What to consider when changing, merging or canceling insurance policies after the wedding?
The word of consent has been given, the wedding ceremony is over and the honeymoon is over – now everyday life begins. One thing that is often forgotten are insurances. After the wedding, it may be important to reconsider, change, combine or even cancel existing insurance policies. But what to consider?
First of all, you should get an overview of all existing insurances. This is not just about the couple’s insurance policies, but also insurance policies such as homeowner’s, liability or car insurance, where the partner may also be insured. In order to avoid unnecessary insurances, one should check which insurances are really necessary and if necessary adjust the insured sum.
Merging insurance policies can also make sense. By having a joint insurance policy, administrative costs can be saved. However, before merging insurances, it is important to check whether you are insured at a lower price with another provider or whether the benefits of the insurances are the same. A change of insurances can be worthwhile in some cases.
Anyone who decides to cancel insurance policies should definitely pay attention to the notice periods. These are often specified in the insurance conditions and differ depending on the type of insurance. It can also be useful to send a cancellation in writing and by registered mail and to have the receipt of the cancellation letter confirmed.
- Insurance policies can be changed after the wedding:
- reconsider
- Changed
- Merged
- cancelled
Cancel insurance policies: When does it make sense?
Whether it’s auto, homeowner’s or life insurance, there can be many reasons why consumers may want to change or cancel their policies. Marriage, for example, can be a good time to review existing policies and adjust them if necessary.
People who get married often change their marital status and, as a result, their financial situation as well. Insurance premiums and benefits can be affected by the income of the partner, but also by changes in the tax bracket and other circumstances.
The possibility of merging insurance policies should also be considered. In this way, it may be possible to obtain more favorable rates or better conditions. However, which policies are suitable for this purpose depends on individual factors, such as the age of the contracts or other contract conditions.
- Another important aspect when reviewing insurance policies after saying yes is the question of reciprocal coverage for spouses. A death insurance policy or an accident insurance policy can be of great importance to cover the partner in case of an eventuality.
- However, if you want to cancel insurance policies, you should pay attention to the cancellation deadlines and, if necessary, seek advice from an expert so as not to lose any important policies.
Overall, therefore, getting married can be a good reason to look at the topic of insurance and make changes if necessary. Good advice and information can help you make the right decisions.
Summary and conclusion
After saying yes, it’s also a good idea to think about which insurance policies you want to change, merge or cancel. Different decisions can be made depending on needs and life circumstances.
First, it is advisable to review all previous insurance policies and check whether they are still suitable. You may need extended liability insurance or private health insurance. Insurance for the house or car should also be reviewed. Here it may make sense to combine the contracts to save costs.
Ideally, you should also consider which insurance policies you can cancel. Perhaps one has taken out an insurance policy that has now become redundant or whose benefits are already covered by another insurance policy.
Overall, it is advisable to speak with an insurance advisor to discuss individual needs and options. Here’s how to make sure you’re optimally insured and save money in the process.