Guide to Separating Homeowners Insurance after Divorce Released
Released
on: December 16, 2009, 10:19 am
Author: InsuranceAgents.com
Industry:
Financial
While divorce is generally a hard time in many people’s lives,
the best way to lessen the pain is to know how to take things apart,
like property, rights, and particularly homeowners insurance, according
to a recent InsuranceAgents.com article, “Home Owners
Insurance and Divorce: An Unfortunate Combination.”
Divorce is a huge life change, and it forces individuals to reassess their finances,
and that should include the homeowners insurance policy.
“If you plan on keeping the home after the divorce, it is imperative you follow the
guidelines to ensure a convenient and stress-free process. Divorce can be an
expensive dispute, but that doesn’t mean your homeowners insurance policy has to as
well,” the article states.
When a homeowners insurance policy is drafted, its details (like the amount of the
deductible), and included coverage options, etc., is all determined by the
client(s). In other words, the lifestyle (routine, income, shared personal
belongings, and way of life) of a person and their spouse (or soon-to-be ex)
determines who the homeowners insurance policy is customized. So when one spouse of
is out of the picture, the existing homeowners insurance policy’s coverage is no
longer 100 percent relevant and needs to be updated.
It is also important for the spouse who retains ownership of the home to focus on
the deductible of the homeowners insurance policy. The policyholder can either get a
lower deductible and pay a higher premium, or get a higher deductible and pay a
lower premium.
“Depending on your situation following the divorce, each type of deductible may have
different benefits for you,” according to the article.
Divorce can be time-consuming, expensive and painful. To reduce the amount of stress
and burden on a person, knowing how to split the big things—the home, personal
belongings, homeowners insurance policy—will go a long way.
To learn more and/or request home owners insurance
quotes, visit InsuranceAgents.com.
Contact Details: Tom Lustina
InsuranceAgents.com
435 North LaSalle
Chicago, IL
60610
614 286 0193
2012
