Breaking Up Is Hard to Do (and Can
Affect Your Auto Insurance Rates)
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 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 car safety, additional financial
responsibilities, and more auto insurance coverage. Children 12 and under require
safety restraints, like car and booster seats.
For more information about keeping your kids safe in the car, read the Esurance
Insight “Kids in Cars: Are They Sitting Safely?” If you drive your children and their friends
around, you may want to increase your level of auto insurance protection.
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 our interactive Coverage Counselor tool to help determine the auto insurance
coverage that best suits your needs. Our auto insurance 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.
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