Happy couples warned over insurance

People 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 cent of home contents insurance policies will not cover the value of wedding gifts temporarily.

And even if they do, this cover tends to only last a month – so the 28,000 happy couples married last month may need to move fast to ensure they are covered.

The report also revealed that many insurers limit their wedding cover. So, with the average amount spent on a present at £43, inviting more people could mean the limit is quickly exceeded.

“Sadly the amount of cover is often not enough to cover the number of gifts received by couples, and it only lasts for a month on average, potentially leaving newlyweds underinsured,” said Prasad Shastri from Abbey.

According to the study, newlyweds with temporary insurance of up to £1,000 would hit their limit after receiving gifts from on average 23 guests.

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Newly-weds must update contents cover

Newly-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 many couples are not taking precautions.

One in ten married couples estimate that they received around £3,000 or more in gifts on their special day and this has a big impact on the value of their home contents.

However, many people do not take action and, should the worst happen, their home contents insurance does not cover the cost of the goods.

“Newlyweds should consider the insurance implications of receiving such a large number of valuable gifts and the impact this could have on the value of their home contents,” commented Frances Browning from Churchill Home Insurance.

“We urge all newly-married couples to check their home insurance policies to make sure they have adequate cover to suit their needs.”

Churchill calculates that the average wedding gift costs in the region of £60 which means that the total value of gifts can quickly add up.

The most popular wedding gift is money or vouchers, while traditional gifts such as kitchenware and electrical appliances also rank highly.

Make sure that you are adequately insured by regularly updating your contents insurance cover.

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