How to Handle Your Homeowners Insurance Following a Divorce

Changes to a homeowners insurance policy may only be made by individuals specified on the policy. You can request a change to your policy, commonly known as a policy endorsement, by contacting your insurance provider or agent and submitting a formal request.

Some insurers permit you to seek a policy change by checking into your account online or by phoning the firm and interacting with an agent directly. You may be requested to submit proof of the modification. To make changes to a policy, the insurance company or agent must also receive approval from all policyholders.

When you request to remove yourself or your spouse from the homeowner's policy, the adjustment could take some time to take effect. The adjustment will take effect based on the terms and conditions of your policy. Make important to speak with your insurance agent or contact your insurance company directly to determine how the conditions of your policy affect the timeline.

Changing Personal Property Coverage

In addition to removing the departing spouse from the policy, you may need to modify your contents coverage for the belongings the spouse is taking with them. For instance, if your spouse leaves with half of the household's personal property, you may be eligible for a cost reduction because you have fewer personal property items to insure.

When you or your spouse moves out of the home, you must inform your insurance company if the departing spouse takes any belongings. The insurance provider may need to establish a special policy addendum known as a "floater" for previously uninsured pricey personal items or remove a floater for items your spouse is taking with them.

On the declarations page of your home's insurance policy, you can view how much you pay for each coverage. If you eliminate a specific floater for items that your spouse took with them when they divorced, your insurance rate may fall by the amount of the item's charge.

Before making a change, you can obtain a quote from your insurance agent for the cost of adding or deleting items from your homeowner's insurance policy if you are uncertain.