A new report has highlighted the importance of home insurance for newly weds, citing the cost of ever extravagant wedding gifts as the main reason for needing to get home insurance cover pretty much right away following the wedding.
According to reports wedding gifts are getting more and more extravagant, and with gifts as expensive and luxurious as plasma screen TVs and the like being purchased as wedding gifts in some cases, home insurance cover is more important than ever for newly weds with thousands of pounds worth of presents.
Research was carried out by NFU Mutual, which showed that under ten percent of newlywed couples actually check their insurance policies immediately after the wedding, which means that millions of pounds worth of extravagant wedding gifts could be at risk, as it could be left in the new homes of newlyweds as they jet off to enjoy their honeymoon still caught up in the excitement of the wedding.
Research also showed that many newlyweds couldn’t remember whether they had checked their policies or not following the wedding. Officials reports that millions of pounds are spent on wedding gifts each year in the UK, and those gifts could be at risk from damage or theft – particularly if they are being left in the house whilst the couple go on honeymoon – which could mean huge financial losses for the newlyweds just as they embark upon their married life together.
One official from NFU Mutual stated: “There is a great deal of excitement in the run up to a wedding and naturally, the practicalities of checking your home insurance can sometimes be forgotten.”
Tom Smith
31st May 2007
Related Posts
Newly-weds must update contents coverNewly-married couples in Britain are being warned that they must ensure they have adequate cover for any wedding gifts they receive.We are entering the traditional British wedding season and Churchill Home Insurance is concerned that
Happy couples warned over insurancePeople in the UK are being urged to check their wedding insurance, as gifts they received on their happy day may not be covered after the cover period expires.According to research by Abbey, 13 per
Is wedding insurance cover a good idea?As a nation we Brits love to feel secure and safe with total peace of mind that we have done all we can to protect ourselves and our loved ones from a range of eventualities.
Is wedding insurance cover a good idea?As a nation we Brits love to feel secure and safe with total peace of mind that we have done all we can to protect ourselves and our loved ones from a range of eventualities.
‘Review home insurance after wedding’The British Insurance Brokers' Association (Biba) has today revealed that re-thinking home insurance after a wedding is vital.According to Biba, couples are putting many items at risk by not ensuring that they are properly covered
Holy matrimony - cost of attending wedding revealedAs the British wedding season gets into full swing, the financial implications of attending someone else's ceremony have been exposed.Experian has published research which shows that the average British wedding guest will fork out around
Wedding insurance ‘worth investing in’Wedding insurance is 'competitively priced' and 'well worth investing in', Marks & Spencer said today.The retailer stated that insurance ought to be taken out as soon as any money towards the wedding had been spent
Public liability ‘number one reason’ for wedding insurance purchasesCouples looking to take out wedding cover should try to apply for the policy well before booking venues, M&S Money advised yesterday.The provider said that many marriage venues now demand public liability insurance before they
