Skip to Main Content

Start Of Main Content

Insurance needs for major life events

Learn About Insurance Updates You May Need When You Experience Major Life Events

Life event: Marriage

Life Event: New Home

  • Insurance need: Obtain homeowners insurance
  • Why: A new home is a big investment, and 2homeowners insurance will help protect it from things like fire, weather damage, theft, vandalism, accidental damage and more.
  • How: Get a professional to give you an idea of 3how much insurance you'll need. You will want to insure your new home for 100% of its estimated replacement cost - not market value.

Life Event: New Baby

  • Insurance Need: Increase life insurance
  • Why: Having a baby is just the start of a huge financial commitment - increasing your life insurance will help you feel more secure about your baby's future should you or your partner pass away unexpectedly.
  • Did you know? According to the U.S. Department of Agriculture, 4it costs $233,610 to raise a child to age 18.

Life Event: Teen Driver

  • Insurance Need: Increase auto insurance
  • Why: 5No driver should run the risk of being uninsured on the road, teens included - especially since this group is the most at-risk for getting into car accidents.
  • Did you know? Adding a teen driver to your auto policy may raise your rates, but costs may drop gradually as your teen gains more experience behind the wheel.

Life Event: New Business

  • Insurance Need: Obtain business insurance
  • Why: Running any kind of business - from a storefront to a one-person operation - means you can be at risk for a lawsuit. 8Business insurance protects against large costs associated with legal fees, settlements and more.
  • How: Your State Farm® agent will help you determine the kind of coverage your business needs.

Return to original article about moments when you should check your insurance.

State Farm® (including State Farm Mutual Automobile Insurance Company and its subsidiaries and affiliates) is not responsible for, and does not endorse or approve, either implicitly or explicitly, the content of any third party sites hyperlinked from this page. State Farm has no discretion to alter, update, or control the content on the hyperlinked, third party site. Access to third party sites is at the user's own risk, is being provided for informational purposes only and is not a solicitation to buy or sell any of the products which may be referenced on such third party sites.

Select a product to start a quote.


Also Important

How Classic Car Insurance Works

How Classic Car Insurance Works

Unlike new vehicles, antique cars appreciate in value, so their insurance differs.

7 Moments When You Should Check Your Insurance

7 Moments When You Should Check Your Insurance

Insurance protects you, your family, and your property, but it can only do its job if it's up to date.

Related Articles

Recognize tax scams to better protect your information

Recognize tax scams to better protect your information

Common tax scams like telephone scams, phony tax preparers and phishing emails or websites can cost you.

What Is Life Insurance

What Is Life Insurance

From how it works to how much you need, get your life insurance questions answered here.

Medicare supplemental insurance information

Medicare supplemental insurance information

Supplemental Medicare health insurance works  alongside Medicare by helping cover extra expenses. Are medicare supplement plans worth it? Learn more.