Feb 13 2018

Rules Regarding Car Insurance and Divorce, ny state auto insurance.#Ny #state #auto #insurance

6 Rules Regarding Car Insurance and Divorce

Ny state auto insurance

Divorce can be extremely painful both emotionally and financially. A lot of work goes into getting everything settled and straightened out. Car insurance is no exception. Understanding the process of separating car insurance after divorce can make it a lot easier. Six rules apply to separating car insurance after a divorce. The rules will apply for couples who are both listed as named insured on the car insurance policy. Handling the separation of car insurance is often one of the final steps to a divorce. Get through this transition and hopefully, you can start looking forward to a bright future.

Ny state auto insurance

Having separate living arrangements is usually one of the first steps in the divorce process. Separate addresses is the start of separating liability. If the divorce is not finalized and both live at the same address, liability is still shared. Obtain separate living arrangements before separating car insurance.

Most insurance companies require the person insuring a vehicle to be on the title. A co-owner not living in the same household needs to be listed as an additional insured. To keep things simple, each individual should have a vehicle titled solely to them. It is possible to find insurance companies who do not care about the titling of a vehicle, but most preferred insurance carriers require the named insured to be listed on the title.

Obviously, someone is going to have to get a new policy. The new policy can be with the same insurance agent or it might be a good time to start shopping for car insurance. It really does not matter who gets the new policy. The first named insured often keeps the current policy. If the home is also insured with the same carrier, it might be easier for the person who keeps the home to also keep the auto policy.

To verify the named insured driver has given consent to be removed, most insurance companies require a signed request. Without the signed request, the person keeping the auto policy will continue paying for a policy which lists both drivers. This is where it can get really sticky. If one of the named insured drivers is not cooperating, it can be difficult to separate policies. Usually the uncooperative person will be left on the policy, while the person wanting separate policies can obtain the new policy and sign the removal request form.

Ideally, you do not want to separate car insurance before the divorce is final. Often one or two of the rules above are not taken care of until the divorce is final. If you absolutely have to separate car insurance before the divorce is complete, be sure to follow all the rules above. Part of the reason for waiting to separate the policies is because sometimes couples reconcile. It can be really annoying for insurance agents if they go through the work of separating car insurance policies just to turn around and re-combine them. Wait until you are certain the divorce is inevitable if it is not already finalized.

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