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How to Handle Insurance in a Divorce

How to Handle Insurance in a Divorce

Broken Marriage

Your car, property, life and health insurance can all be impacted by divorce. When you are sorting out the details of a divorce you need to make sure each party is properly protected as you separate.

Go Over all of Your Policies

Divorce can affect every facet of your financial life—including your insurance. In many relationships, one person acts as the primary accountant paying bills and managing accounts. If you're stepping into the accounting role, it's very 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 basic 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.

Auto Insurance

You may be insuring one car now instead of two or more. Now is a good time to review your coverage and limits with your agent. Pay extra attention to your deductible and make sure it is in line with your new financial picture.

If your policy includes teen drivers, you will need to decide whose policy they will be covered on.

Home/Property Insurance

If one of you will be keeping your current home you will need to meet with your agent to update and review the coverage on the policy.

If you’re moving to an apartment, you will need to talk to your agent about renters insurance. (Even if your move is only temporary) It’s an inexpensive way to protect your personal property and keep your insurance history intact.

Life Insurance

Life insurance is often neglected in a divorce and it must be reviewed carefully. Refresh your memory on what type of policy you have (Term Life or Permanent Life). Review the terms and payments.


TIP: Make sure you change your beneficiaries! It is an all too common occurrence for the beneficiary not to be updated. Then at the time of passing the life insurance benefit must be paid to whoever is listed as the beneficiary on the policy. Many times the money is intended for a new spouse but if the policy has not been updated the money will go to the ex-spouse.


We're Here to Help

Here at Rueck Insurance we 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 us at 217-355-9075

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About Us

Rueck Insurance is your independent, one-stop insurance center for all your personal and business insurance needs in Illinois. Insurance shopping is easy when the Protection Team provides you with multiple quotes to choose from. You will always know you are getting the best coverage at the lowest possible price.

Contact Info

Rueck Insurance is your independent, one-stop insurance center for all your personal and business insurance needs in Illinois.

702 Bloomington Rd#205
    Champaign, Illnois
(217) 355-9075

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