What to know to protect your new family
You’re out on your own and ready to start a family.
That means it’s time to update your auto insurance!
Here are some things to consider when deciding what kind
of insurance to buy:
Wedding bells!
Marriage is about sharing, and that includes insurance
policies. You and your spouse may want to merge your separate
insurance policies into one. Consolidating your insurance
could result in lower premiums or allow you to acquire
more insurance at the same level of spending.
Baby on board!
Congratulations! It’s a boy… or a girl! In
either case, with the arrival of your child, you may be
thinking of upgrading your family vehicle as well. But
how will a larger vehicle affect your insurance? Auto insurance
premiums are linked to the type of vehicle driven, so make
sure you check the insurance rates before you make your
final choice of a car. SUVs, convertibles and performance
vehicles typically cost more to insure than other types
of vehicles. Also, look at the car’s safety features.
Things like anti-lock brakes, side air bags and automatic
seat belts could reduce your premiums!
Load ‘em up!
Having a child means interacting with other parents and
perhaps driving their children in your car while going
to soccer practice or school. To protect your assets,
you may want to consider increasing your liability insurance
in case of an accident.
An “Umbrella” of protection
During this time you will likely be accumulating more assets.
Therefore you might want to consider purchasing an umbrella
policy that will better protect your financial resources
in case of a lawsuit stemming from a car accident.
Questions or concerns?
The Ohio Department of Insurance regulates agents and companies
that are licensed to sell insurance in our state. The
Department’s Consumer Services representatives
can answer your insurance questions and investigate your
complaints about an insurance company or agent. Call
1-800-686-1526.
