Splitting assets in a divorce can be difficult but dealing with insurance policies is often next to impossible. Even though about half of all marriages end in divorce these days, insurance companies have been slow to account for this fact in their policies. In a divorce, it’s more than likely that you’re going to have to make adjustments to your home insurance policy to protect yourself. If you plan ahead and play your cards right during divorce proceedings, you can ensure that your property remains insured and give yourself peace of mind.
While many couples don’t want to think about the worst on their wedding day, it’s important to plan for any eventuality. In the event that you and your spouse end up separating you’ll be happy that you took the time to craft an insurance policy that holds up after divorce proceedings are through. It’s a good idea to write all homeowners insurance policies in the name of both spouses. This way, either spouse can make changes to the policy during separation, but only so long as both parties agree. This helps to prevent foul play during divorce proceedings and keeps things amicable. [Read more…]