Divorce raises many questions that can leave you more frustrated, sad, stressed, and confused. One of the main questions is what happens to your homeowner’s insurance policy and whether you will change ownership after the divorce or not. Fortunately, you don’t need to make any significant changes if you live in your Illinois home after the divorce as the primary policyholder.
If your spouse is leaving with some belongings, changes will have to be made.
If the court ordered a split of the family property, you might need to make changes to your contents coverage and remove the items departing with your spouse. Your Illinois insurance company will also need to adjust your rates accordingly. At Green Family Insurance Inc., we specifically go through your entire policy and ensure that it is correctly updated.
Your rates may go up.
Your rates could go up based on the discounts you received before the divorce. For instance, if you and your partner received discounts for combining multiple policies for auto and home, you may end up losing the discount if you buy a separate policy and fail to bundle again.
You can unlist your spouse if you are the primary policyholder.
If you want to remove your ex-spouse from your policy, you can do so by providing the divorce decree to your insurance company. However, if the court requires the two of you to live in the same house, it’s best to keep the coverage the way it is.
You cannot make any changes to the policy if you are not the primary policyholder.
If your spouse was the primary policyholder, you might want to request them to remove their names and make you the primary policyholder. If that seems impossible, you can still keep them and make the payments on their behalf.
If you are separating from your spouse, take your time, and learn the changes that need to be made. Our agents at Green Family Insurance Inc. are also available and willing to help. Feel free to ask any questions. We are only a call away!