How Does Getting Divorced Impact Your Car Insurance?
Getting divorced can impact a lot of things. Not only may it affect your current assets, but it could also affect your car insurance. During the process of divorce, you may want to consider how your insurance rates may change.
Your Premiums May Increase or Decrease
As a married driver, your premiums considered both you and your spouse. This is true even for a car that you independently drove, because your spouse was a member of your household. If your spouse was the safer driver, you can expect to see your premiums go up. If you were the safer driver, you could potentially see your premiums go down. On the other hand, if you had discounts because you bundled your policy with your spouse's policy, you will lose those.
Your Spouse Can't Be Removed Until the Divorce Is Finalized
Until the divorce is finalized, you have split up ownership of your vehicles, and you're both living in other households, you likely won't be able to remove your spouse from your car insurance. This is because as long as your spouse is still living with you, they may still use your car. Since cars are marital property, you can't fully separate ownership until you have gone through the process of divorce.
Your Children Will Need to Be On One Policy
Do you have children who are already driving? If you have children who are either driving or learning to drive, you'll need to put them on either your policy or your ex-spouse's. This is an important decision that may need to be made as part of a larger parenting plan.
You May Be Impacted By Indirect Events
If you're divorcing, you may be moving to the next town over. Insurance rates are also calculated based on the city that you're in. Even moving just a few miles away could put you in a different county, and that county could have higher-than-average instances of car accidents or car break-ins. Thus, when looking for quotes, you need to look specifically in the area in which you think you'll land.
Car insurance can be complicated and it isn't always possible to calculate exactly how much you'll be paying. If you want to make sure you know what your future expenses will be, it's in your best interests to start getting quotes from agents now. Shopping around can help you get the best deal. Contact a company like Angel Auto Insurance to learn more.
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