New relationships are fun and exciting! Love is a crazy thing, but sharing your life with another person can be very rewarding. However, now you have another person who is dependent on you, and if the unexpected were to happen, it’s important to have coverage in place so that your loved ones aren’t left in a bind.
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- If you were to pass away unexpectedly, could your significant other afford the mortgage payments? Cover funeral expenses? Pay off outstanding debts?
- Adding them onto your policy can help them maintain their current standard of living if you were to suddenly become ill, get injured, or pass away.
- When moving in with someone who is not your spouse, and you are not considered common law, your stuff is NOT covered under their home policy. Getting tenant insurance is an inexpensive way to make sure your belongings are insured in case of a loss.
- New relationships can mean new changes to your lifestyle. Things like jewerelly, mountain bikes, and other belongings often have limitations with insurance. Scheduling high value belongings is necessary to ensure you are covered if you have a loss.
- If you and/or your family were injured or killed by someone under-insured, your auto policy would cover the damages. In these situations, having a $50 deductible instead of a $700 deductible can really help.
- You can add coverage onto your policy that would supply you with a rental car if you were to lose the use of your vehicle due to a claim. This coverage would help pay for the expense of renting the vehicle.