Handling Insurance in a Divorce

Published: June 2011

Your health, life, car, and property insurance may all be affected by divorce. As you're sorting out the details, make sure your various insurance policies are still offering the protection you want and need from them.

Couple dealing with divorce

Consider All Your Policies

Divorce can affect every facet of your financial life—including your insurance. In many relationships, one person acts as "household chief financial officer," paying bills and managing accounts. If you're stepping into the CFO role, it's important to better understand the ins and outs of all your policies.

  • Know your premium due dates. For some policies—term life insurance, for example—missing a payment may result in cancellation.
  • Get a baseline understanding of what each policy covers, what it doesn't, and whether it makes sense to adjust coverages and limits for your new life.
  • Adjust your policy information—things like the names on each policy, mailing addresses, dates, etc.
  • Pick up the phone. A big part of your agent's job is helping you make smart decisions and explaining policy nuances.

Life Insurance

Key point: review your life insurance coverage carefully. If you're covered by a Term Life Insurance policy, you're covered for the duration of the policy (as long as the premiums are paid, of course). But since Permanent Life Insurance builds cash value, it's a good idea to talk to your agent about your changing needs.

Also, double-check and change your beneficiaries if necessary.

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Auto Insurance

If you're insuring one car now instead of two, take a close look at your coverage limits and deductibles. Match your deductible—the amount you pay out of pocket if you make a claim—to your new financial picture. Upping your deductible usually means you'll pay a lower premium.

If your family includes teen drivers, you'll also need to decide whose policy covers them.

To learn more about how Allstate can help you save on car insurance, get your free no-obligation quote or anonymous ballpark estimate.

Home/Property Insurance

Job one is making sure your coverage level still matches your household property. Even if you're keeping the house, the value of your household contents has probably changed—decreasing your coverage level may be a smart financial move.

If you're moving to an apartment or townhome, talk to your agent about renters insurance, even if your move's temporary. It's an inexpensive way to protect your property every step of the way.

We're Here to Help

An Allstate agent can help you make the necessary changes to your policy and work out your new insurance needs. For expert help managing all your insurance needs, talk to an Allstate agent near you.

*This information was obtained by the Pennsylvania Auto Theft Prevention Authority at www.watchyourcar.org. The availability, qualifications and amounts of these coverages and discounts may vary from state to state. In addition, other terms, conditions and exclusions not described above may apply, and total savings may vary depending on the coverages purchased. In some states, we may offer coverages and discounts that are not listed here. For more information regarding your eligibility for certain coverages and savings opportunities, please contact your Allstate agent.

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