Home contents insurance warning for betrothed Brits
British couples planning to tie the knot this summer are being urged to ensure their home insurance is up-to-date following their nuptials.
Rural insurance provider NFU Mutual said that only eight per cent of newlyweds check their home contents insurance after they tie the knot.
And with the gift list market in the UK last year valued at more than £267 million, this means that couples are running a risk of being underinsured.
Commenting on the findings by NFU Mutual, its personal insurance underwriting manager David Oram said it can be expected that the practicalities of checking insurance policies sometimes gets forgotten in the excitement of planning a wedding.
“Although NFU Mutual offers newlyweds the luxury of a temporary automatic increase, once the honeymoon period is over, we urge couples to review their levels of cover,” he added.
In addition to offering an increase in cover for a period after getting wed, NFU Mutual is also offering a home contents insurance calculator on its website.
The tool allows users to type in the value of their home contents in order to establish the level of cover needed.
“It might not be the most romantic way to begin married life, but it should give you peace of mind and guarantee you are covered,” Mr Oram said.
Last year, Alliance & Leicester found that the average wedding in the UK now costs some £17,000. However, the survey suggested British pairs underestimate this cost by 155 per cent.
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