I have heard of life insurance costing more following divorce, I presume linked to the health data that has been produced in recent years.
I was however very surprised to read this morning, that a change in marital status can effect your car breakdown insurance! It is unclear why, or what data this is based on, but is important that this additional cost is known.
In many divorces time is spent by clients and lawyers assessing the assets, income and needs of both parties. This includes the income needs and potential claims for spousal maintenance. Knowing such a big rise in car breakdown insurance is a risk, is important when calculating that budgets and affordability for parties following divorce and separation of their assets.
This issues can be discussed at mediation, through solicitors or through a court application if necessary. More information about the options to resolve financial issues can be found at http://www.freethsoxford.co.uk/how_do_i_resolve_financial_issues
If you have any queries or questions, please do not hesitate to get in touch.
When we approached the RAC we received mixed messages. Initially it said all insurers would revise their calculations based on the change in relationship status of the named driver from spouse to additional driver.