In addition to a number of financial concerns resulting from divorce, couples should revisit their auto insurance coverage.
According to the Insurance Information Institute, couples that have divorced or separated need to determine ownership for any vehicles involved. Doing so will necessitate updating or changing auto coverage as soon as possible.
The III notes taking a former spouse off an car insurance policy can protect the other party involved in the event of an accident or lawsuit.
If the couple is separated, III vice president Loretta Worters says the two parties should make sure they provide the car insurance provider with any new addresses.
“This way you can be notified if your spouse is in arrears,” says Worters. “You don’t want to find out after an accident that your coverage was canceled for lack of payment.”
Those who are in the market for new car insurance coverage after a divorce may not be used to shopping for a policy. In order to find less-expensive coverage, consumers may consider comparison shopping online.
What an car insurance policy offers will also affect its price, and could include collision, comprehensive and liability coverage.
