My daughter, Leslie, recently married a nice young man named Clifton. (I call him “Chester,” but that story is for another day!) I had the honor and thrill to walk Leslie down the aisle and when I did that I wore the same U.S. Army Dress Blue uniform that I wore 32 years ago when I got married. Yes, it still fits like a glove and some of you hate me for that! (See the photo; not bad for an old guy!)

It was a typical Baptist church wedding, with the preacher (my father-in-law) performing the ceremony. All of the usual words were there such as “Do you, Leslie, take Clifton…” and many more. Each of “the kids” said, when asked, “I do.” Of course, the next line was, “I now pronounce you man and wife.” All of the “normal” folks there were no doubt filled with excitement at that moment; it had been in the planning stage for close to a year. While I, too, was excited (OK, and a little choked up, I admit it), I assure you that I was the only person in a church filled with about 250 people who thought, at that very moment, “Oh boy, their insurance needs just changed.” Yes, I really did think that but at least I didn’t fire up my laptop and projector and give a quick insurance class right there in the church! I am “sick” and an insurance nerd through and through, but I’m not that sick!

It is true, however, that as soon as a newly married couple gets back from the honeymoon, one of the first stops needs to be at the insurance agent’s office. While there are changes needed for life and health policies, I’ll only look at the personal auto and homeowners policies here.

Both Leslie and Clifton had their own PAP, hers with liability limits much higher than his; imagine that! Certainly, those two policies needed to be combined into one. Failure to do that (keeping separate policies) creates all sorts of possible coverage gaps, especially where the limits are not identical on each policy. Leslie, being the daughter of an insurance nerd, was able to convince Clifton that he should cancel his policy and add his car to her policy. When that was done I made it clear to her that she should make certain that the PAP listed both of them as named insureds; it has always been my practice and recommendation to name both spouses. Certainly Clifton was added as a driver for rating and underwriting purposes. It’s also a good time to step back and look at the coverages and see if they are appropriate. Liability limits may need to be increased to account for a changed exposure. Of course, Leslie’s policy was already maxed out at the highest limits of liability, medical payments, uninsured motorist, and income disability offered by the carrier, but that’s not always the case. In short, it’s just the time to start from scratch and do an analysis of the needs and coverages out there.

On the homeowners policy front, Clifton had an HO-3 on the house he already owned and Leslie had her own HO-4. In fact, she actually moved into his home a bit before the wedding (her apartment lease was up for renewal) and kept the HO-4 since his policy would not protect her for claims to her personal property or for liability claims. When Leslie said, “I do” and the pastor pronounced them husband and wife, she immediately became “an insured” under Clifton’s homeowners policy. The immediate thought might be, “OK, let’s cancel the HO-4 since she does not need it any more.” True, maybe, but before that policy was cancelled another account analysis needs to be undertaken. What coverages and endorsements did she have and are those exposures properly covered by Clifton’s policy? For example, her liability coverage was $1 million. Yep, a 25-year-old kid with that limit. Why? Remember, her dad is an insurance nerd and knows that the cost to go from $100,000 to $1 million is about the cost of dinner at a good BBQ joint. Clifton’s HO-3 does not provide that limit, nor does his carrier offer it. That points out the need to consider a personal umbrella policy, which would cost only a few hundred dollars. Additionally, Leslie’s policy had a personal articles floater attached which covered her engagement ring. Before the HO-4 is cancelled, that ring needs to be properly covered. She also needs to be a named insured on his policy, even if her name isn’t on the deed to the house yet. Again, it’s time to start from scratch, whip out the checklist, and do a complete account analysis.

Starting out a marriage right is important to everyone. While few may think of insurance, it is one thing that really needs to “be right” once the honeymoon ends. Getting the insurance right helps avoid future problems.

Just think, I have hardly touched the surface of the insurance implications of the “big event.” Suggesting a special events wedding policy, analyzing the exposures of the honeymoon in Cancun, the high value wedding gifts received, and chartering a trolley to haul guests from the wedding to the reception are just a few of the subjects worthy of discussion, but not here, perhaps in other articles!

Oh yeah, how was the wedding? It was nice. The church premises were safe, the restaurant where the rehearsal dinner was held had adequate lighting and even had a private security guard walking around, the hotel where the reception was held had great housekeeping, no one got injured, and no insurance claims were submitted for anything. Oh no, maybe I really am that sick!

This article contains copyrighted information of the Florida Association of Insurance Agents and is used with permission.  Please call Bush-Thompson Insurance at (904)278-4288 if you have any further questions about this article.  FAIA is not staffed to take consumer calls.

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Copyright FAIA, David Thompson, 4/1/11