As Doulas we're often asked how parents can prepare for their growing family. Join us on the blog today with Gabrielle Stepaniak, and Cincinnati Insurance Agent, to answer some of your burning questions. Want more of Gabby? Join us for our April Mix + Mingle, a social event for expectant families. Gabby is our featured guest to answer your questions! Space is limited, register now.
With all this new baby stuff coming into my home, do I need to update my homeowners insurance?
Not typically. Check your coverage information in your policy, in the personal property section. It will tell you the limits you get for personal property if there were to be a total loss. If you think you need more, simply call your agent to talk over your options and they can increase your coverages if needed.
Do i need to tell my insurance company that I’m having a baby? What kind of adjustments should I make to my car insurance now that I’ll be transporting a baby? Is my car seat insured?
It is not necessary to tell your insurance company you are having a baby. My suggestion is to talk to your agent about increasing your bodily injury to 250/500 and possibly adding an umbrella policy. Your car seat is covered under property damage if you were to be in an accident. The only other time you would need to make adjustments to your insurance when your baby starts driving, but that’s a ways away.
What if I don’t have life insurance for myself or my spouse?
You want to get that as soon as possible. The younger you are the better the premium rate is going to be. It is also guaranteeing insurability. For example, if you were to get high blood pressure, diabetes, or other conditions you’re at risk of having high insurance rates or even getting denied life insurance.
Do I need to make any changes to my life insurance policy before my baby arrives?
Now that you’re having your first baby (or another baby) it means your expenses are going to increase. You want your family to be able to maintain their lifestyle. Not having adequate coverage may force them to sacrifice or prioritize certain things over others should something happen to you. The general rule of thumb for life insurance is to multiply your income by 10.
Liberty Mutual Insurance
Licensed in Auto, Home, and Life in Ohio, Kentucky, Indiana & West Virginia