My car is in my name. If my wife and I get a divorce, and she is awarded the vehicle, can I cover that vehicle and her as a driver on my policy?

You're wise to think about the impact of divorce on insurance needs if you think your marriage is in trouble. Financial separation has implications on all types of insurance, including car, home, health and life insurance.

Assuming your wife would no longer be living with you, in the event of divorce, you would not be able to cover her car on your insurance policy. If she were awarded the car, then she would have to register it in her own name and purchase insurance for the vehicle. Car insurance rates are based on many factors, including where cars are garaged.

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If you and your spouse decide to separate you should get individual car insurance policies as soon as one of you moves out, advises the Insurance Information Institute (III). If you decide to buy a new car, get insurance before you register it. Removing your ex-wife from your policy would also protect you from liability if she were involved in an accident and got sued, the III says.

Do you have teen-age children who drive? It's likely that you would have to place teen drivers on both policies if you and your spouse shared joint custody. Be prepared to pay higher premiums in that case.

Consider other insurance needs as well if you think you and your spouse might separate. The home insurance policy, for instance, will need to be under the name of the spouse who continues to live in the marital home after divorce, and the other spouse will need to purchase home insurance or renter's insurance for his or her new residence.

You will also need to consider changes in life insurance and health insurance needs. For more, see how getting a divorce changes your insurance needs.