Combining and Updating Policies
Getting married doesn't automatically merge your insurance. You'll want to actively review and consolidate where it makes sense:
- Auto insurance: Combining into one policy almost always saves money through multi-car discounts
- Renters/homeowners: If you're moving in together, update the policy to cover both partners' belongings
- Health insurance: Compare both employer plans and pick the better one, or stay separate if that's cheaper
Update Your Beneficiaries
This is the single most important insurance task after getting married, and it takes 10 minutes. Update beneficiaries on:
- Life insurance policies
- 401(k) and retirement accounts
- Bank accounts
- Any existing insurance policies
Life Insurance for Married Couples
Whether you need life insurance — and how much — depends on your household structure:
Dual-income, no kids: You may not need much yet, unless one partner's income is essential for mortgage payments or debts. A smaller policy covering shared debts might be sufficient.
Single-income household: The earning partner needs substantial coverage. But don't forget the non-earning partner — replacing their contributions (childcare, household management) has real costs.
Planning for kids soon? Consider getting coverage now. You're younger and healthier, so premiums are lower. Lock in a 20-30 year term now and you're covered through the expensive years.
Bundling for Savings
Marriage is a great time to bundle. Most insurers offer multi-policy discounts when you combine auto, home/renters, and umbrella coverage. The savings typically range from 5-25% depending on the insurer.
Get quotes from 2-3 providers for bundled packages and compare them against your current separate policies. The math usually favors bundling, but not always — run the numbers.