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Friday, 22 February 2013

Just How Do I Determine If I Want Wedding Insurance?

By Makhi J. Daleus


Individuals purchasing a brand new car do not think twice about insurance coverage. This is because they are used to the belief that and being lawfully required to get it, they accept that it is smart and also wise in any case. On a larger scale, those purchasing a house additionally accept that household insurance is really a necessity, although not always a legal one right now.

So it is a surprise that with a conventional wedding today still costing an average of 15,000, albeit down from the 2010 high of 20,000, a lot of couples are still not acquiring any form of wedding insurance to guard what is almost certainly their third largest financial expenditure of their life-time.

These facts come from lately released statistics from insurers and other wedding oriented bodies. There are also several interesting anomalies, such as the fact that it is more probably to be men instead of women who take out wedding insurance.

There should therefore be a basic reason why people planning to get married are not guarding their own investment. Aside from lack of media interest, there is a general perception that wedding insurance is not really essential. People getting married are sometimes very obsessed with their own organising that they forget that they're spending thousands of pounds without having any type of protection if things fail. And also things can and also do go wrong. When they do, it's a costly exercise.

The current financial climate has meant that hitherto safe businesses are actually going to the wall at a frightening pace. That means that the location that you paid your 4,000 deposit to can easily go bust and you will not get a penny of it back! Similarly, these companies that provide the ancillary services, just like florists, caterers and so on are all subject to exactly the same financial dangers. So doesn't it make sense to pay a comparatively cheap insurance premium and be able to be done with it?

Before acquiring virtually any wedding insurance, there are some things you should consider initially. If you use your own credit card to pay for anything, such as the deposit in your venue for instance, you may find that you already have some protection available as the Section 75 of the Consumer Credit Act. Basically, this covers you for anything termed a breach of contract, including the venue being double booked, and you might be able to get a refund this way.

Lastly, check whether your household insurance already covers you for certain aspects of a wedding, usually a month before and after the event, but check with your own insurer.

Although a credit card or perhaps home insurance might offer a particular degree of protection, neither is a real substitute for a full wedding insurance policy. With the average wedding costing a lot of money, for the sake of a premium starting from around just 20.00, be smart and protect your 'investment' using wedding insurance.




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