How Divorce Will Affect Your Car Insurance Rates (Part 2)

Continued from Part 1

If you are the spouse that wants to keep your name on the insurance policy after the divorce is finalized, call your insurance provider to remove your ex-partners’ name.

Once a divorce is finalized, the financial situations for each spouse will change dramatically. Once you are divorced and taking care of finances on your own, it would be a good idea to look at your coverage limits, costs and deductibles to determine if you can lower your rates to cover your individual requirements. Compare plans before making a final decision.

Make sure you know of certain discounts that may not apply to you anymore if you are not married, such as multi-car and homeowner discounts provided through your insurance company to married couples. On the other side of the spectrum, you may also be eligible for other discounts now that you are covered as a single person.

If you are moving to a new home/area after your divorce, change your zip code and address with your insurance company to keep your records up to date. You may also be eligible for other policy discounts now that you live in a different area and may have a different commuting distance.

If you have children that are driving legally at the time of your divorce, their name should be on the policy of their legal guardian. If the parents have joint custody, the children should be listed under the address in which they reside most frequently.

After a divorce you don’t necessarily have to split off from your former spouse to go on two different auto insurance policies. If you and your ex can make it work, you can always keep getting your discounts and multi-car coverage by staying on a group policy, taking into consideration the personal preferences of you and your spouse. This option could be complicated if there is disagreement between each spouse.

For more information on how divorce can impact your auto insurance coverage and policies, visit www.sampair.com for assistance from our Surprise divorce attorneys at The Sampair Group.