Going through monumental life changes is exciting. In fact, it’s so exciting that you’re usually not thinking about insurance. But when any significant transition occurs, you want to ensure you’re protecting yourself, your family, and your investments with the proper coverage. Here are five major life milestones when you should reconsider your insurance policies.

Buying a New Car or Motorcycle

Buying a new ride? Congratulations! But before you take off on any road trips, you’re going to need the proper auto or motorcycle insurance for your vehicle. If you already have insurance, you might be able to transfer your existing coverage or add the new car to your policy as an additional vehicle. A typical policy will give you a limited period of time after purchase during which your new vehicle will be covered under your existing policy with essentially the same coverages and limits as your other vehicle(s). This time can vary from 7-30 days, so be sure to contact your carrier or agent as soon as possible to officially get your new vehicle covered. No matter what your current insurance status is, you will need to meet your state’s minimum coverage requirements to prove you can take financial responsibility in the event of an accident. It is worth noting liability-only insurance doesn’t help pay for any injuries you suffer or damages to your vehicle, though.

In addition, with a new vehicle, you might want or need to pay for additional protection, like collision and comprehensive insurance, to protect your investment. Collision coverage will help pay to repair or replace your vehicle after a covered accident, regardless of who is at fault. Comprehensive coverage, sometimes called “other than collision coverage,” will help pay to repair or replace your vehicle after a covered, non-accident event. These types of events could include theft, vandalism, natural disaster, contact with an animal, or anything else stated in your policy.

If you took out a loan to purchase your new ride, there’s a good chance your lender will require you to carry these coverages. After all, they have a financial interest in the car until you pay them back.

Getting Married

Once you tie the knot, what’s yours often becomes theirs as well. This can include sharing financial responsibilities and expenses in your new life together, like insurance. Will one of you join the other’s health insurance plan? Should you purchase life insurance? What about auto insurance? Can you save money by consolidating multiple insurers and policies?

With Direct Auto, you sure can! If you’re looking to combine insurance coverage on your household’s vehicles, you could save up to 25% on your car insurance with a multi-car discount.

Turning 55

While 65 is the age most people associate with senior discounts, there are plenty of deals available to slightly younger individuals. Many businesses, including Direct Auto, restaurants, retailers, movie theaters, and other service providers, offer products or services with discounts for people 55 and older. So, if you just hit the big 5-5, call Direct Auto or come in and ask about our senior discount.

Having Kids (or Grandkids)

If you just became a new parent or grandparent, chances are you’re thinking about the future for your little one. After all, your entire world has just changed in the best way possible.

While life insurance is not the most fun subject to talk about, it’s certainly worth considering. A term life policy could help your loved ones financially if something happens to you. It could help pay expenses like funeral costs and medical bills. Plus, a term life insurance policy could even help your child or grandchild pay for future expenses like school or loans.

Buying a Home

Purchasing a home is an exciting process, whether or not it’s your first time. But did you know homeowners are eligible for discounts from some service providers? It’s true! As a Direct customer, you could qualify for a homeowner discount on car insurance if you or your spouse own a house, condominium, or townhome.

Regardless of where you are in life, Direct can help you protect the things you love. Have any other major life milestones made you rethink your insurance coverage? Share with us in the comments section below!