What’s Up with January?
January 7th, 2010 by Penny Hagerman
Did you know there are more divorces in January than any other month of the year?
That’s right, apparently the lines can get very long at divorce attorneys’ offices at the beginning of each year, as more and more couples decide to call it quits.
Why does this happen? Experts say the biggest reasons are cheating and finances.
It seems that, along with a new start in a new year, the idea is “out with the old, in with the new”—and that includes relationships.
Along with divorce come other life changes too. For instance, joint homes go to one person or get sold, bank accounts get split up, and vehicles get assigned to one person or another.
All these transactions affect lives—but they also affect finances and insurance policies.
If you move following divorce and change jobs, you could face a lapse in health insurance or wind up paying a lot more for COBRA. If you’ve been driving your spouse’s car and he/she gets it in the divorce, your car insurance costs could increase substantially if your car costs more to insure.
If you’re one of the thousands of married people affected by divorce this month, consider the effect your split could have, not only on your family, but also on your finances and insurance policies.
Then get in touch with your insurance agent, who can help minimize the impact on your wallet. You’ll do what you can where you have control, and make setting out on your own a little bit easier.
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