getting married - Spencer Insurance Agency, Inc

A few thoughts. . .

  

 

 

I apologize if I am repeating myself but we seem to be the last to know some important changes in our client’s lives.  Many of life’s events have a huge impact on your insurance. I spoke to a friend recently whose son needed to use an Uber driver frequently.  The Uber driver suggested he call him directly and not use the Uber app and he would give him a discount.   Sounds good at first but it is a nightmare for you.  If the Uber driver does not use the Uber App when picking you up then the driver has no insurance coverage for his car. Uber won’t cover him in this case and the personal auto policy has an exclusion for this activity.  Scary, but as I said we are always the last to know important information.

Please contact us and discuss your situation if any of the following life changing events.

  • You are getting married
  • You are getting separated or divorced
  • Having a baby
  • Sending a child to live at college
  • You are putting your house in your children’s name
  • You are putting your house in a trust
  • You are downsizing and preparing for retirement
  • You have unrelated adults living in your home
  • You or your child uses your car for food delivery and/or for Uber or Lyft

Our insurance companies have ways to accommodate most situations but not all.  Contact us to discuss your personal situation. Better to contact us before you do any of these life events so we can discuss how to adjust your insurance coverage so you are properly protected.

Life events have an impact on your insurance coverage.

    

Many life events can have a dramatic effect on your insurance coverage.  That is why Spencer Insurance Agency has a section to cover this on our website.

Let me highlight a few:

  • Separation/Divorce – Should one of the spouses move into an apartment, that spouse is no longer a resident of the previous household. That could have an impact on your homeowner’s and auto coverage if you are not a named insured on the policies.  Your contents at the house or new apartment may not be covered and if you rent a car you may not have coverage for the rental car you rent when on vacation.
  • Changing the deed of the house to a trust – You should let us know so we can update the named insured and possible additional insureds to be sure all parties to the trust have the proper coverage.
  • Putting the deed to the house in the name of children – You may decide to do this for estate purposes. Just make sure you let us know as we need to make sure the children and parents have the proper coverage.  Many times the parents will have a life tenancy agreement allowing the parents to live in the house for their lifetime even though the ownership of the house is in the name of the children.
  • Unrelated person in the household – Do you have someone living in your home that is not related to you? If so, there may be no coverage for that person on your homeowner’s policy. Check with us to make sure you have the proper coverage for this unrelated resident.

Insurance companies have ways to accommodate most situations. Did you realize if you are living with a significant other that you may be able to combine auto policies and receive a discount for having multiple cars on the policy?  You may even be able to have a renter’s policy covering both of you which would give you a multiple policy discount. Times have changed and Spencer Insurance wants to make sure your policies keep up with the changes in your life. Contact us to review your policy.

Know someone who got engaged or recently married?

 

Do you know someone who was engaged or married on Valentine’s Day?  If so, pass this message onto them.

I realize that the most romantic thing to do after you get engaged is not to call your insurance agent. However, it is important.  Let this trusted adviser help you navigate through this exciting time.

How can my insurance agent help?

  • You may have just received an engagement ring. The ring is valuable.  What happens if that ring is lost or stolen?  Get the ring insured
  • Planning a wedding ceremony? Are you putting deposits down for the photographer, venue or wedding dress.  What happens if these places go out of business just days before your wedding?  Did you know you can purchase inexpensive wedding insurance to protect your deposits?
  • You need to review your finances with your insurance agent and financial planner. Should you purchase life insurance?  Check out Rachel’s story.

Spencer Insurance Agency is here to help you during this exciting time.  We have an article on our website just for engaged and recently married couples. Don’t miss this article.   You may need to contact your employer, add a spouse to your health insurance, change a beneficiary on a life insurance policy and much more.

Contact us if you would like to discuss your engagement with us.

 

Did you get engaged or married on Valentine’s Day. . .

Just married truck

Did you get married or engaged on Valentine’ Day.  Do you know someone who did?  Send them this information.

We congratulate all those who were married or got engaged on Valentine’s Day.

Spencer Insurance Agency has some tips for you as you plan your wedding or start your life as a married couple. Did you know you can insure that wedding you are planning? A wedding day is one of the most memorable days of your life. It is also a large expense. Protect your investment in this wonderful day. Check out our Wedding Insurance website.

You also need to take action on a number of items once you are engaged or married. Check out our tips on what you need to do now. Planning a honeymoon? Did you purchase Travel Insurance? Do you need to change your name? Update your social security card or drivers’ license? Did you review your life insurance? Change your beneficiaries? Read Rachel’s story to see why you should not wait to purchase your life insurance. As you plan your wedding check out our tips so you plan for these items also.

All of us at Spencer Insurance wish you the very best!

Getting Married? Wedding Season is Coming!

(Charlie’s family at Laura’s wedding in November)

Here is an article I wrote for our website.  Last November my daughter was married and this July my son Brian is getting married.  So I gathered some information to help newly engaged couples plan for their big day.

If you know someone planning for a wedding pass this along to them.

Congratulations on your engagement!

What do I do now that I am engaged?

  • Insure your engagement ring
  • Plan your wedding ceremony and reception
    • Search the web for sites that help you plan your wedding. Ask people you know who were recently married how they planned their wedding.
    • Purchase Wedding Insurance – Most people don’t know you can insure a wedding. Check with Spencer Insurance Agency to get this valuable coverage for under $300. Reasons to insure your wedding. . .
      • Protects you from losing your deposit should the venue for your wedding go bankrupt.
      • Protects you from losing your deposits should you not have the wedding due to sickness, weather and other factors. Sorry, no coverage for “Cold Feet.”
      • Protect your wedding gifts from theft the day of the wedding.
      • Consider other reasons, the photographer goes bankrupt, your wedding dress is not delivered on time.
  • Review your finances with your future spouse and a financial planner
    • Discuss how you will handle your finances once you are married.
    • Discuss your current assets with each other and decide how to protect them.
    • Be aware of what you will need to do after your wedding day.
    • Spencer Insurance Agency works with many financial planners and can recommend one if necessary. We are not CPAs or lawyers and do not provide legal advice. We suggest you consult your accountant, financial planner, lawyer and other professionals as you take this big step.

What do I need to do after I get married?

  • If you are changing your name. . .
    • Check your documents and change your name on:
    • Social Security Card – You will need to do this first so you can change your name on other identification.
    • Driver’s License
    • Other Identification
  • Notify your employer
    • Change your Federal withholding status if necessary
    • Review your Group Health Coverage
    • Tell your creditors, utilities and other vendors of your name change
    • Discuss your name change with your doctor and see what needs to be done to have your spouse pick up a referral or prescription for you. You may need to sign a form.
  • Update your benefits and beneficiaries
    • Review all your life polices, group and individual
    • Check the beneficiaries listed on your retirement accounts
    • Since marriage is a life changing event, you may be able to make changes to your group benefits. Check with your HR department or employer.
  • Review your insurance policies to make sure you are getting all the discounts you are entitled to receive

Call Spencer Insurance Agency at 215-885-2200 for a no obligation Insurance Review. Make sure you have all your bases covered now that you are married.

Do you have any tips for newly engaged couples?

Comment below and let us know how your wedding plans are going!

 

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