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Dealing With Insurance After A Divorce

When going through a divorce, there are a number of things that you will need to deal with, including being sure that insurance matters are handled correctly. If they are not resolved, then it is possible that you could be dealing with legal issues, have your future claims denied, and more. Here are the top concerns when it involves insurance in a divorce:

  • Auto Insurance: When it comes to auto insurance, you cannot remove anyone from your policy without their permission. So, if you are not on good terms with your ex-spouse, dealing with this can sometimes be challenging. Before you change the name on your policy though, be sure that the title of the vehicles are transferred under the same name. Also, you usually need to have separated living arrangements in order for you both to have your own insurance policy.
  • Homeowners Insurance: Unfortunately, in the case of homeowners insurance, you and your ex-spouse will both remain on the policy if you still owe enough on your mortgage. If this is the case, it may be best to type out a written document that states who is responsible for the policy and the mortgage. Lawyers may need to get involved if agreement between you and your ex-spouse proves challenging.
  • Health Insurance: Figuring out health insurance may be scary, since it is entirely possible you could be dropped if you have been relying on insurance from your spouse’s employer. This is why you should check with your own employer and insurance agent to discuss your options. It is important to avoid a lapse in coverage for your own safety and financial health.
  • Life Insurance: If you have your ex-spouse on your life insurance policy to receive the benefits, they can still receive it even in the case of a divorce. This is why it is important for you to update your life insurance policy so that you can ensure the benefits go to either your children, or another loved one if that’s what you want. 

By changing your insurance policies, you can be sure that you are going to have your financial situation all your own if that is something that you want as the result of your divorce. Also, you can be sure that all the right benefits of the insurance policy are going to all the right people, and there is not chance that any claims can get denied. For more information about this, contact David/Greg Insurance Consultants Inc.

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