Wedding couples forgetting to tell their home insurer about their valuable wedding gifts
Published: 14 September 2009
By MoneyHighStreet Staff Leave a Comment
Updated: 14 September 2009
Over 50% of professional couples who got married in the last 5 years or who are planning a wedding in the next year, risk losing valuable wedding gifts by forgetting to let their home insurance provider know about their new belongings.
According to research by Hiscox, the specialist insurer, a newlywed couple’s home contents increases by an average of £12,000 following their wedding.
With nearly 25% saying their gifts are designer goods and nearly 15% that they are family heir looms, fine art and antiques it is vital that home insurance is there to protect them.
Some insurers, such as Hiscox, automatically give customers a percentage increase in the amount insured for a specified period after new items are received into the home.
For some insurers there is specific reference to an event, such as a Wedding or Christmas.
It’s best to check to make sure you know what you are covered for.
You can compare home insurance from different providers using a comparison website such as Confused.com or Gocompare.com.
Whilst it may be the last thing on your mind when planning a wedding or coming down to earth after the big day, making sure you have the right home insurance really is important, giving you the peace of mind that your contents are covered for loss or damage.
Many have also not considered insurance for their engagement or wedding rings and many don’t even know whether or not they are covered.
Worryingly over 15% don’t know what the rings are worth and staggeringly 10% of those who have spent over £5,000 on them simply haven’t got round to getting them insured.
As Austyn Tusler of Hiscox comments ‘Don’t take your wedding and engagement rings for granted. Include them when you tot up your contents to make sure you have enough cover.
Think about when you are outside of the home too as, unlike Hiscox, not all insurers cover items outside of the home as standard.’
You can get a home insurance quote and buy cover on the Hiscox Website.
