Getting Married, Moving in together, Starting a Family
Life can get more complicated when we have more than just ourselves to consider. Getting married or moving in with a partner and starting a family requires many of us to make changes to our priorities, responsibilities, lifestyle, budget and insurance needs.
- If you are getting married you may require Event Liability. This will depend on where the event is hosted but you should consider your responsibilities as host, particularly if alcohol will be served
- Moving in together can mean substantial savings from an insurance perspective. If you and your partner each have a vehicle, combining them with a single policy and/or insurer can offer significant savings.
- It is a requirement of the Ontario auto policy that all drivers in the household be disclosed so even if you decide not to combine policies with your spouse or partner, if they are a licensed driver, your company needs to know about their experience and claims history
- If you rent or own a condominium together you may require higher limits of coverage for your belongings as you will likely have more “stuff” including clothing, furniture and electronics
- Is there an engagement ring, wedding band or special item of jewelry that you have purchased? Many home, condo and renters policies limit the amount of coverage for jewelry but adequate limits can easily be arranged to ensure your special item is insured to value
- If you are staying home on parental leave and no longer commuting to work or using your vehicle for business you can save money on your car insurance premiums!
- At this stage in life you need to consider what will happen to you, your partner and/or children if something tragic happens to one of you and your income is gone or significantly reduced. There are many options and types of policies for life insurance and critical illness that can help provide security and peace of mind in the event of such a loss.
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