Valentine Engagement? What to Consider When Combining Personal Insurance.

Now is the time to think about Personal Insurance

Did you know that approximately 6 million people plan to get engaged on Valentine’s Day? That’s a lot of proposals. On average, over 10 percent of engagements take place on this special holiday each year. Henneberger Flynn Insurance would like to congratulate you on your engagement!

We know in the midst of all the wedding plans, personal insurance isn’t exactly front of mind. So we wanted to give you a few tips to consider when combining you and your special someone’s personal insurance.

Homeowner’s and Renter’s Insurance

Consider personal insurance when you are deciding where to live. You are going to need a homeowner or renter’s policy that works for the both of you.

Here are a few things to think about:

• Compare premiums. Location and size can have an effect on your premium. It is important to take that into consideration when calculating your premium.
• Check your current personal insurance policy for premium rates. Many homes that have been insured for a long period of time may have more discounts.
• Get quotes from both of your insurance companies even if you aren’t moving. See what they can offer you as far as coverages and rates. Many independent agencies will keep you in mind when helping you select the perfect policy.
• You are now going to have twice the belongings. Make sure you make an inventory list so you know how much coverage you need. You will want to make sure to include any big purchases such as artwork or jewelry on this list.
• If you decide to add on to your current home to fit your growing family make sure you contact your agent to make sure you have the right coverage. This includes adding outdoor play equipment. These additions may require an additional umbrella policy.

Cancelling a Policy

If you or your special someone decide to cancel one of your current policies, make sure you cancel the first effective day you’re no longer living there. This will ensure you still have coverage during the moving out phase.

Talk to your personal insurance agent about cancelling your coverage. Most require it in writing. They also might suggest vacant home coverage that will prevent you from paying for any vandalism or break-ins.

Auto Insurance

When making changes to personal insurance, make sure you consider auto insurance. Married couples will want to combine to receive the most discounts.

• If your special someone has a bad driving record, you will want to talk to your agent about options.
• Vehicle age and type can affect your premium, so think about this when making any new vehicle purchases.

Insurance companies consider married couples to be a lower risk, so there is generally a marriage discount. If you consider combining auto policies with your other personal insurance policies, you might be eligible for a multi-policy discount. Make sure you contact your agent about all vehicles including boats, motorcycles, and ATV’s. These might also be eligible for a multi-policy discount.

We hope you have had a wonderful Valentine’s Day! Make sure you take these Personal Insurance tips into consideration after your engagement. If you have any questions, please don’t hesitate to contact Henneberger Flynn Insurance today!