Going through a divorce can be a stressful time. Figuring out how that impacts your auto insurance can be confusing. These quick tips may help guide and clarify.
- Make sure you know who your current agent is and how to reach them. Even better if you have a copy of your policies and know what you have for coverages. Both parties should know where they stand on insurance until they are on their own policies.
- Know that your credit can impact your insurance score as it is often one of the factors in insurance rating. Separation can cause confusion in who is paying what bills which can impact your credit score as you are working to detangle financial responsibilities. Make sure you work to maintain your credit scores to help save money down the road.
- Car insurance: you cannot remove your ex without consent- typically in writing. If you have separate addresses, separate vehicle titles, One person will have to get a new policy.
- If you move, you need to notify your insurance provider as a new Zip code can alter your car insurance premiums.
- Typically the insurance follows the car registrations. This means whoever officially owns the car and registers it, that is the person who typically has the insurance coverage on the car.
- Never have a lapse in coverage if you can avoid it- even if it is only a day. This can significantly increase premiums. The person getting new coverage should get the new policy in place BEFORE being removed from the prior policy. In other words, do not allow yourself to have a lapse in coverage as this can be quite costly- even only if for a short period of time.
- Children in divorce situations: typically the parent with primary custody will provide the insurance, but a licensed agent can help advise as situations can differ.
- Best time to separate policies- when divorce is finalized. Once divorce is final, one party will need a new policy.
- If you ex is paying for insurance after the divorce, make sure the insurance company has all your contact info as well so you are notified if payments are no longer made.
- The widow penalty- when you are widowed some company’s increase rates by as much as 20%. This is because that person is now considered “single” and single drivers pay higher insurance than married couples. Have your insurance company let you know if premiums will be increasing when you change your status. If so, a good independent agent can shop for these things.
- If you need a new vehicle know that many factors impact the insurance premiums including the purchase price, theft rate, cost of repairs ,accident rate, safety test results and more.
- Consider AAA or roadside assistance option to keep you protected if you have car troubles.
- Partner with a good licensed agent who is responsive, supportive and educates you on process and you options. An independent agent can help you find the best insurance options for your particular needs by shopping a variety of carriers on your behalf. By doing so, they can reduce a lot of stress that can be part of this transition process.
We’d be honored to be that resource that helps you through these life changes. Please reach out to us with any questions or to help review your insurance needs.
About Keslar Insurance
Keslar Insurance Agency is a full service independent agency providing residential and commercial insurance products in New Hampshire and Maine. Recent recipients of the Business of the Year from the Exeter Area Chamber of Commerce as well as the Business of the Year from the Newmarket Business Association, Keslar insurance is committed to the community.
Keslar Insurance makes sure clients have the right insurance products to protect the most important things in life-family, possessions and business. Keslar Insurance employees focus on providing the kind of service and value we’d expect for ourselves and our families. Our products which include Homeowners insurance, Auto, Life, Umbrella, Renters, Landlord, Boat, Snowmobile, ATV, Flood, Commercial Auto, Business Owner’s Policies, General Liability, Worker’s compensation, motor home, camper and more. For more information visit: www.keslarinsurance.com.
Keslar insurance Agency 55 Main Street, Suite 222. Newmarket, NH 03824