Wedding gifts need to be insured
Published: 8 May 2009
By MoneyhighStreet Staff Leave a Comment
Updated: 8 May 2009
With the main wedding season underway, it’s important to ensure that wedding gifts are insured, through home insurance or wedding insurance cover.
As research from Direct Line shows, wedding gifts can add several thousand pounds to the value of contents insurance in a newlyweds home.
On average guests spend just under £80 on wedding gifts. Some 3% though spend over £500, even in these hard hit recession times.
Not only are there the wedding gifts, typically around £4,000 is spent by the wedding couple as they prepare for their wedding, including
- Rings – £630
- Bride & Groom’s outfit – £1,790
- Attendant outfits, including Bridesmaids – £575
- Photos – £905
- Gifts for wedding party – £205
Head of Home Insurance at Direct Line, Andrew Lowe, commented ‘The value of home contents can quickly rise around the time of a wedding.’
He added ‘It will be a shrewd newlywed who checks their insurance policy to make sure that all of their purchases and gifts are protected in the event of loss, damage or theft.’
Direct Line raises its home contents insurance cover automatically for 4 weeks around the wedding date to take account of this rise in contents value.
As well as the wedding gifts, there are other aspects of the wedding arrangements that you may also wish to consider insurance for. For example what happens if
- the wedding has to be cancelled or postponed due to an accident or illness
- the wedding dress gets damaged or
- one of the suppliers goes bankrupt?
There are specific wedding insurance polices available from a range of companies, including such as Debenhams, Marks and Spencer and Greenbee (a trading name of John Lewis).
You can get a wedding insurance quote online from these and other suppliers, often with a discount for buying online.
It is important to take time to assess what wedding insurance cover you need.
Determine what you already have covered, such as through your home insurance, and identify what other cover you need to purchase, through a specific wedding insurance policy for example.
