After you have separated from your spouse, you will want to take a close look at your insurance coverage policies. Many spouses hold insurance jointly, as this is an easy why for them to reduce the costs of insurances. However, after divorce, each former spouse must review his or her needs and situation and separate the insurances appropriately. There are four main insurances that spouses will want to look at after divorce. These are car insurance, homeowner's or renter's insurance, life insurance and health insurance.
With car insurance, many couples own two or more cars when they are married but will reduce to one car when they device. When a person reduces the number of cars that they own, this can typically reduce the insurance premium, If your ex-spouse has a car with a shared insurance plan, he or she will need to inform the insurance provider about the divorce. This can reduce the premiums. In some cases, one spouse will want to actually get a separate insurance plan, making it easier for him or her to pay his or her end of the costs while the other spouse maintains the previous car insurance.
Another important thing to look at is home or renter's insurance. If you are the spouse that is moving out of the home, then you will probably be able to avoid paying homeowner's or renter's insurance, unless this is a apart of your spousal support arrangement. A lawyer can help you to work out homeowner's or renter's insurance costs and divide these fairly.
Also, you will want to look at your life insurance policy. Normally, the dependent on a life insurance policy is the former spouse. You may want to change this designation to a child or another individual if you don't want your ex to inherit the policy when you pass on.
Lastly, you will want to look at health insurance. This can often be a difficulty in divorce, especially if one spouse's career provides health insurance for both spouses. Sometimes, if one spouse is leaving the marriage, he or she can remain on the health insurance plan. Other times, he or she will want to seek intermediate health insurance from the state. If you want more information about insurance coverage issues, call a San Fernando divorce lawyer. A trusted attorney may be able to help you organize all insurance plans effectively to prepare for life after divorce.
