Getting ready to tie-the-knot? Your engagement signals the start of probably months of planning for the big day. From the venue, to the flowers, everything will be thoughtfully considered and planned down to the smallest details. Be sure to include in your planning careful research into the types of insurance you will need now that you are popping the question!
Getting married is not only a huge personal commitment but a financial one too. When you finally pop the question, realize that there are several areas of insurance that you will want to invest in for your peace of mind and for your future security.
Now that you have pledged yourself to someone and the prospect of “‘till death do us part” should have you thinking about life insurance. The shiny engagement ring should have you considering an addendum on your insurance or specially purchased engagement ring insurance. In addition, now that you will be sharing a living space, whether it is an apartment, condo, or single residence, you will want to have proper coverage in the form of homeowners insurance or, if renting, renters insurance. Let’s take a closer look at your insurance needs now that you are shifting from the single life to married life.
Engagement Ring Insurance
Your engagement ring is a priceless piece of your family story now. It not only has high monetary value but also has sentimental significance. You will want to insure the item either as a part of your homeowners or renters insurance or as an added part of it. Check with your insurance agent to see if you need to have a rider or separate insurance depending upon the appraisal of the item.
Special Event Insurance
With your wedding day fast approaching, you will want to consider insurance that can protect your special day. Special event insurance can help if a vendor cancels at the last minute or if there is some unforeseen event that happens. For example, if someone is injured during your event, your special event insurance can provide liability coverage. This event insurance can also protect the couple if property damage occurs at the venue, there is extreme weather, lost or stolen gifts, and/or illness. No one wants to consider that the worst could happen at such a glorious occasion, but it does. It is best to be proactive and plan accordingly.
Now that your life is being inextricably joined with another’s, it is time to start planning for the future. While no one wants to think about the end when you are celebrating such a beautiful beginning, it is important to start life insurance while you are young. The younger you purchase life insurance, the less expensive it can be. In addition, the younger you are, the better health you are probably in, which means your cost will be lower in the long run.
Home, Condo, or Renter’s Insurance
Blending two lives together can be stressful. Who’s furniture will you use? Where will you live? No matter how or where you start your new life, you will want to consider insurance for your home, condo, or apartment. Homeowners insurance should be purchased for a home or condo unit, while renters insurance can provide coverage for your belongings if you live in an apartment.
Are you getting ready to pop the big question? Talk to your local insurance agent about what types of insurance will be right for you. Congratulations and best of luck!