When a marriage or long-term relationship ends, the last thing anyone wants to think about is auto insurance. However, if you share an auto insurance policy with your ex, getting your own policy should be a priority.
Why do I need my own auto insurance policy?
In some instances, people have canceled their partner's coverage. If this happens to you, it could cause a gap in your insurance. And that could lead to higher premiums down the road.
If you no longer have the same garaging address listed on your auto insurance policy, your auto insurance could be canceled and any claims you incur during that time may not be paid.
For richer or poorer
Your auto insurance policy protects your finances if you're involved in an accident and have to file an auto insurance claim.
Chances are your financial circumstances will change when you become single again. Depending on the number of assets you gain or lose from the separation, you may require more or less coverage on your auto insurance policy. Assets you should account for include life insurance policies, investments, and current and future earnings.
Got kids?
If you have children, you'll need to plan for child car safety. This could include taking on additional financial responsibilities and increasing your auto insurance coverage. Children 12 and under require safety restraints, like car and booster seats.
If you drive your children and their friends around, you may want to increase your level of auto insurance protection to keep them safe.
Before you know it, your child will be licensed to drive and need auto insurance. Esurance offers a special savings incentive to young drivers with good driving records. Every 6 months, assuming there are no claims against the young driver's record, Esurance will lower his or her auto insurance premium. Most auto insurance companies don't offer auto insurance discounts for young drivers until they turn 25.
Where do you begin?
If you've never been the decision maker about matters relating to your finances and auto insurance, now's your chance to take on this role. At Esurance, we make it easy for you!
Use the Coverage Counselor® to help determine the auto insurance coverage that fits you best. Our learning center is also a great place to visit for the latest information on safe driving and saving money on your auto insurance.
Be an informed auto insurance consumer and protect what matters most — you, your children (if you have any), and your future.