To love, honor and insure: Insurance advice for newlyweds

Congratulations! You’ve just tied the knot and are settling into your new lives as a couple. To help make married life a little more secure, all newlyweds should take steps toward financial freedom by assessing their personal insurance needs.

Maintain honeymoon bliss after the wedding. Take steps to insure your financial future.

Let’s start with the vehicles you drive. If you each have a car registered in your own name, consider putting them under one policy. Most insurance companies offer a discount for insuring multiple vehicles on one policy. Also, insurance rates are typically lower for married drivers, so be sure that your insurance agent or insurance company representative is aware of your change in marital status.

Now, let’s move on to those expensive wedding gifts and the furniture you’ve bought for your new life together. Have you considered what would happen if any of these valuables were stolen or lost in a fire? Now is the perfect time to purchase property insurance for your home or to reassess the coverage that you currently have. Couples who rent should consider obtaining renter’s insurance to cover the value of their possessions.

As you combine households, you’ll want to get one policy that protects everything. Whether you own or rent, your policy should provide liability coverage if you are sued for negligence in or out of your home.

Keep in mind that most homeowners and renter’s policies place a limit on jewelry coverage (usually $1,500), so you may need to add additional coverage — called a rider or endorsement — on your policy to cover expensive engagement and wedding rings.

“Assessing and addressing your insurance needs early on will help carry you over the threshold toward financial stability,” said Michelle DeWine, MetLife¨ Auto & Home’s vice president of marketing. “Determining what insurance coverage is right for you is an important step, and can save you a lot of grief in the long run.” DeWine suggests that you always call your insurance carrier or local agent when you return from your honeymoon.

For more tips on how to get the most out of your wedding, go to www.lifeadvice.com, choose “Life Transitions,” and then select “About Getting Married.” The site contains a wealth of information about the wedding process, and even includes a handy wedding budget planner.

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