Congratulations! You just got married, and things are probably looking pretty great right now. But unfortunately you can’t count on that honeymoon happiness lasting forever. Anything can happen in life, and you need to prepare yourself. We’re talking about sitting down and taking a look at insurance coverage. While many young couples might not see it as a priority, it’s never too early to think about protecting the life you’re building together.

Here’s our guide to the kinds of insurance you should look at once you’ve tied the knot.

Health insurance

It’s always best to ensure you’re covered if one of you falls ill. Doctors, specialists, hospitals and ambulances cost money, and you don’t want to be thousands of dollars out of pocket when one of you may not be able to work. This is where health insurance comes in.

You just need to make sure you find the right cover for your needs. With that in mind, you should tailor your health insurance to get the most from it. Think about your current needs, as well as any future plans. If you’re thinking about having children, then you’ll need some pregnancy coverage in advance.

It’s also important to remember that you’ll pay more for health insurance the older you start. If possible, start your cover under the age of 31 for the lowest base rate under the government’s Lifetime Health Cover program. If your combined income is over $180,000, you’ll also pay lower tax. However, without the right health insurance, you’ll be charged between 1% and 1.5%.

Life insurance

You build a life based on two incomes. What happens if one disappears? Purchasing life insurance to protect the surviving spouse when one passes away is crucial. Keep in mind that the primary goal of life insurance is to provide income for your spouse for about 20 years. You need to consider more cover if you already have children.

If you have any debts left when you die, this will be taken from the value of your estate and assets. That means your spouse will lose out here too. It’s also worth noting that life insurance is cheaper the younger you get it. Like with health cover, the premium increases with age.

Home & contents insurance

Once you’re married and combining households, your assets increase. You’re building a nest with your house and possessions, and they are a vital part of the life you’re creating together. So it’s up to you to make sure you have the home and contents insurance to protect them. If you own your house or have a mortgage, home insurance is essential to protect everything from the building and fixtures to the roof, walls and plumbing. Even if you’re just renting, you should look into contents insurance to protect all your belongings within the house.

Nobody wants to be left without a roof over their heads. Whether it be a flood, a fire or a burglary, home and contents insurance is financial protection for your home and everything you own that lives in it. When the worst happens, you want to know that you can replace or repair stolen and damaged items. Even if just a few of your assets get stolen or are beyond repair, an insurer will offer you a new item for an old one.

If you’d like to discuss insurance cover with a financial planning expert in your region, head on over to the Yellow Pages listings today.