Finances & Money

Can Having the Right Insurance Help to Save Your Marriage

Go to school, get a good job, get married, start a family.  That used to be the dream for millions of Americans and while Millennials are not getting married at the same rate as previous generations, they are still doing it.

However, one wrinkle that is derailing marital bliss are the economic realities of life in contemporary America.  This means that financial stress can spell doom for many marriages – especially when you consider that one or both party are entering the marriage with tens or even hundreds of thousands in student loan debt.

The reality is that it does not need to be like this and one technique that can help save a marriage is having the right insurance.  Don’t get me wrong, it’s not like you can buy an insurance policy for your marriage.  Instead, you want to use insurance to help mitigate points of economic stress that could break a marriage.

Shopping Around

Ok, you’ve met someone and you have fallen in love.  The next thing that will probably come is that you will decide to move in together.  While this is a great way to get to know your future partner before getting married, the ‘merging of the things’ can often be a stressful time.  I mean, why do women need so many pillows?

While you are probably focused on share closet space or saving your favorite chair from ending up at Goodwill, the reality is that very few of us use this time to look at insurance coverage.  This is a shame as merging coverage might be a great opportunity to save money over the long run.

For example, getting a joint auto insurance policy could significantly reduce how much you are paying if you keep your separate policies – sometimes up to 20 percent or more.  While this is because women are generally considered to be safer drivers, it could just be the fact that you are no considered a lesser risk because you are marred.  I mean, your wife chose you, so you not all bad.

How do you know if you can save?  This starts with reaching out to different car insurance companies to find out what rates they offer for newly married couples in your state.  Just remember to not just reach out the company, also go online to check out what others say about them.  For example, if you are considering car insurance from Mercury, then you will want to look at Mercury Insurance reviews to see how their customers view them.

But it is not just car insurance.  You also want to check out health insurance, life insurance, and other policies and you might be able to find the right policy for you and your burgeoning family and this will help you to not only save money today but also be prepared for when thing go awry.

The Streets Are Not Paved with Gold

In the nineteenth century, it was said that American streets were ‘paved with gold’.  Having spent my entire life in the U.S., I can tell you this is not remotely true.  In fact, many of the streets in my town are full of potholes and this is largely because the local town council lacks the money to keep the roads in good repair.

This points out another reason why insurance can help save your marriage and that is because things can and do go wrong from time-to-time.  In fact, most Millennials will face a working life full of uncertainty and might never be able to retire – at least in the classical sense.

Given this uncertainty, you can understand why the younger generation is less gung-ho about joining the rat race.  Who can blame them?  Basically, they go into debt to get an education and then face tremendous uncertainty when they graduate.  To make matters worse many of the jobs that are around today might not be available in 10- or 20-years.

As such, having access to unemployment insurance or other forms of supplemental insurance can help you when times are not so good.   This means that you can continue to pay your bills when times are tough, but it could also shield your marriage from economic stress that often leads to divorce.

Final Thoughts

Being married is never easy, but then again nothing worth doing ever is.  However, being married over the long-term means that you have found someone with whom you can share your life with and this is a good thing.When it comes to insurance, yes it can help to save your marriage but you need to have a plan.  Sit with your spouse and look at your needs, then shop around to find the right coverage.  From there, you want to remember that life has its ups and downs and as such you need make sure you have coverage to help you when needed.

Don’t take things for granted as we live in a world full of uncertainty.  Get the right coverage and this will help you and your better half enjoy your life together.

 

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Susan Paige

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