NEW YORK (TheStreet) – To all of you couples getting married this month, congratulations — now you have twice as many things to worry about insuring.
Not to stomp on your wedding cake, but there are practical considerations that go along with all those weddings that take place in June. If a couple is bringing two cars into the relationship, is considering buying a home together or is wondering how to protect that two-months' salary that's sitting on one of their fingers, there's a strong chance they'll need to reconsider their insurance policies.
At the very least, they might want to consider the implications of borrowing each other's cars. Laura Adams, senior analyst for InsuranceQuotes.com, says automotive insurance provides couples a simple first step toward insuring their property jointly, if that's what they decide they'd like to do.
“The first thing to consider is auto insurance,” Adams says. “You want to make sure that both of you are insured for either car and that they can drive each other's cars. Typically family members are covered, but what I recommend is that you put each other's names on each policy.”
While couples are taking that step, it's a good time to look over each other's shoulders and see who's getting the best deal. If one member of a couple has been with their insurer far longer than the other, Adams says the loyalty discount they're getting might be beneficial to both. Adams advises taking a look at annual insurance costs and comparing the cost of multi-vehicle plans with their various insurance companies.