If you’re one of many people in Virginia whose marriage has taken a turn for the worst, you may have some difficult decisions to make. Should you decide to file for divorce, especially if you have children, the decision will activate a series of additional choices and decisions you’ll have to make before you can achieve a settlement. A particular issue that can be complex is car insurance.
How you resolve car insurance issues in your divorce may depend on various factors, including but not limited to the specific agency through which you hold a policy. In some situations, you might decide to keep both your and your spouse’s name on the same policy, even if one of you has moved out of the house. There have also been cases where spouses continue living under the same roof until their divorce is final but choose to separate their car insurance.
The agency in question might require two new policies
Some car insurance agencies may require you and your ex to dissolve your existing policy that carries both of you under one plan. From there, you would each have to open a new, separate policy in your own names. It’s sometimes possible, however, to remain on the same policy until the court finalizes your divorce.
Because protocol varies from agency to agency, it’s always a good idea to give your car insurance agent a call to discuss the issue of a pending divorce. This is the easiest way to know for certain what you must do or don’t have to do regarding your existing policy.
Other issues to consider
Child custody issues might intersect with car insurance issues in a divorce. Will you and your ex share custody, or will you have primary or sole custody? At any rate, if you have a child who is old enough to drive, you’ll want to make sure that his or her name is on the appropriate policy. It may be that your agency requires a teen driver’s name to be on the parent’s policy who has the same address as that listed on the child’s license.
Premium rates might change after your divorce. Factors that may affect your rate include your claims history, driving record, age and more. The Consumer Federation of America has stated that a person who finalizes a divorce may expect to see a premium increase anywhere from 0% to 34%. Policy changes may or may not occur in conjunction with your unique circumstances. Researching the topic ahead of time can help you to avoid a lot of post-divorce stress.