How Does Divorce Affect My Insurance Coverage In Florida?
At The Law Firm for Family Law, our divorce attorneys in Clearwater, Florida understand that when you are having marital trouble and considering divorce, many life-altering factors must be considered before the split is legally recognized by the Courts of Pinellas County.
Most married couples recognize insurance coverage as a joint expense, which can include:
- Health insurance
- Vehicle insurance
- Homeowner or rental insurance
- Life insurance
- Disability insurance
Whether you share one policy or a combination of policies, your coverage is going to change as soon as your divorce is final, and you should be prepared for that transition, so you do not lose your coverage altogether.
Planning Your Post-Divorce Insurance Needs In Clearwater
Spouses commonly maintain health insurance coverage on one or the other’s employer plans, typically choosing the option that makes the most sense for their personal medical needs.
If you are the health insurance policyholder, it is important to remind your spouse that s/he is going to have to either find a new policy, which can include single-person coverage through:
- Employee policies available through their work
- Private insurance coverage
- Federal COBRA coverage, which allows their ex-spouse’s insurance coverage to remain intact at a direct cost for up to 36 months
If you have children, their coverage will be determined as part of the child custody and child support measures within the divorce decision.
Car, Homeowner, or Rental Insurance Coverage In Florida
If you are the spouse who is moving away from the shared home during the divorce proceedings, it is important to update your records with your car insurance company, so you are covered in the event of property damage while living at your new place.
If you have teenage or young adult children who are insured under your car insurance policy, talk to the insurance company about whose policy will offer the better coverage going forward, based on where the child spends the most time. S/he may need to be to be listed on both policies.
Likewise, homeowner’s or renter’s insurance is a necessary part of life. If you and your spouse are divorcing, the person who moves is going to need a separate policy for the car and the new home — even if the space is a temporary living arrangement.
Disability & Life Insurance Coverage After A Florida Divorce
Life insurance is something most married people invest in, to be sure that the other spouse will not have to shoulder the devastating costs of losing their loved one unexpectedly. This makes sense for couples with and without children.
However, if you have a life insurance policy that lists only your former spouse as the beneficiary, and you no longer want any of the proceeds of that policy going to him or her, it is important to change the policy to list someone else as the recipient.
If your ex-spouse is dependent on the alimony or child support you have been ordered to pay, it may make sense to let the policy stand as is. Like most insurance coverage options, that is a personal decision.
Disability coverage is supplemental insurance that provides financial support if an injury or illness keeps you from working. This is important if you are newly single, and cannot rely on anyone else to provide financial help if you are unable to work, which is often true after a divorce.
In fact, if you are dependent on your spouse to pay alimony or child support, you should speak to him or her about getting a disability policy of their own, so you are not left in a compromised financial position if he or she becomes too hurt or ill to work.
Insurance coverage may not be at the forefront of your divorce proceedings, but it should be strongly considered before you make any agreements through collaborative divorce, military divorce, or standard divorce, so you are not left without important coverage.
Contact our experienced divorce attorneys at The Law Firm for Family Law in Clearwater, Florida today at (727) 531-8737 to learn how we can protect your rights, and help you plan for life after the divorce.