Insurance Considerations: What You Need to Update Post-Divorce

One critical aspect that often gets overlooked in all of the turmoil of divorce is updating your insurance policies. It’s important that you look over and update your insurance policies so that they are aligned with your new goals and situation. 

1. Review your Health Coverage: One of the first insurance policies you should review is your health insurance. If you were covered under your spouse’s insurance, you might need to find new coverage. Some of the things you can do is check to see if your employer offers health insurance or look through the Health Insurance Marketplace. 
2. Update Beneficiaries for Life Insurance: It’s important to review your life insurance and update your beneficiaries, especially if your ex-spouse is listed as a beneficiary. You may want to change this if you have children or other dependants. 
3. Updating Auto Insurance Information: If you and your ex-spouse shared a vehicle, you’ll need to decide who keeps the car and update the policy. Ensure that the policyholder’s name matches the name on the vehicle’s title. 
4. Homeowners or Renters Insurance: If you’re staying in the home you and your spouse got together, make sure the homeowners insurance is transferred to your name. If you’re moving out, make sure that you have renter’s insurance to protect your items. 

Let me be your financial advocate as you navigate the divorce process. As a Certified Divorce Financial Analyst, CDFA® I can help you avoid costly mistakes and educate you on current and future budgets, provide a financial road map, and help you understand what assets you have, what you spend, where you spend it, and more.

You don't have to go through this alone.

Contact me today at 716-800-4290 to schedule your first appointment