Couples underinsure their wedding day by 30 per cent

Thu, 12 Aug 2010

With the wedding season in full swing, the results of a study conducted by compareweddinginsurance.org.uk has revealed that, on average, couples are underinsuring their nuptials by 30 per cent.

Adam Leyton, founder of compareweddinginsurance.org.uk, said: "For many couples their wedding day will be one of the most expensive purchases they will ever make, so while it’s encouraging to see that many couples are purchasing insurance to protect this investment, it’s concerning to discover this level of underinsurance."

There are a number of possible explanations for this insurance deficit. It could be that couples ultimately spend much more than their initial budget and don’t increase their insurance cover accordingly. Or, they simply don’t insure themselves for the full amount, taking a chance that they won’t actually need to claim for full cancellation or postponement.

Wedding insurance offers financial protection if something that is covered by the policy goes wrong before, during or after the big day such as complete cancellation of the wedding due to death or illness, a supplier going bankrupt or something relatively minor like damage to hired suits .
add to favouritesnewsletterlink to this pagesend to friendpost comments

Link to this page

Copy and Paste the following HTML into your page.